AcelRx Pharmaceuticals Inc. (ACRX) Trading Up 2.8%
AcelRx Pharmaceuticals Inc. (NASDAQ:ACRX)’s share price was up 2.8% during trading on Wednesday . The stock traded as high as $3.71 and last traded at $3.66, with a volume of 180,633 shares changing hands. The stock had previously closed at $3.56.
Several equities analysts have commented on ACRX shares. Jefferies Group reaffirmed a “buy” rating on shares of AcelRx Pharmaceuticals in a report on Friday, June 10th. Cowen and Company reaffirmed a “hold” rating on shares of AcelRx Pharmaceuticals in a report on Monday, May 2nd. HC Wainwright reaffirmed a “buy” rating and issued a $7.00 price target (down previously from $9.00) on shares of AcelRx Pharmaceuticals in a report on Tuesday, May 3rd. Seaport Global Securities raised AcelRx Pharmaceuticals from an “accumulate” rating to a “buy” rating in a report on Friday, May 6th. Finally, Stifel Nicolaus cut AcelRx Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Friday, August 5th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $7.63.
The stock has a 50-day moving average price of $3.03 and a 200 day moving average price of $3.34. The company’s market capitalization is $162.67 million.
AcelRx Pharmaceuticals (NASDAQ:ACRX) last released its earnings results on Thursday, July 28th. The specialty pharmaceutical company reported ($0.24) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.22) by $0.02. The company earned $4.53 million during the quarter, compared to analyst estimates of $2.17 million. Equities analysts predict that AcelRx Pharmaceuticals Inc. will post ($0.90) earnings per share for the current year.
In other AcelRx Pharmaceuticals news, CEO Howard B. Rosen purchased 10,206 shares of AcelRx Pharmaceuticals stock in a transaction that occurred on Friday, May 13th. The stock was acquired at an average price of $3.26 per share, for a total transaction of $33,271.56. Following the completion of the acquisition, the chief executive officer now owns 50,000 shares of the company’s stock, valued at approximately $163,000. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Mark G. Edwards purchased 15,000 shares of AcelRx Pharmaceuticals stock in a transaction that occurred on Thursday, May 12th. The shares were acquired at an average price of $3.15 per share, with a total value of $47,250.00. Following the acquisition, the director now directly owns 105,000 shares of the company’s stock, valued at approximately $330,750. The disclosure for this purchase can be found here.
AcelRx Pharmaceuticals, Inc is a pharmaceutical company focused on the development and commercialization of therapies for the treatment of moderate-to-severe acute pain. The Company operates through the segment, which includes development and commercialization of product candidates for the treatment of pain.
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