AcelRx Pharmaceuticals’ (ACRX) Buy Rating Reaffirmed at Jefferies Group
Jefferies Group reissued their buy rating on shares of AcelRx Pharmaceuticals Inc. (NASDAQ:ACRX) in a research report report published on Tuesday. The firm currently has a $7.00 price target on the specialty pharmaceutical company’s stock.
Several other equities research analysts have also recently weighed in on the company. RBC Capital Markets reissued a positive rating and set a $6.00 price objective on shares of AcelRx Pharmaceuticals in a research note on Tuesday, August 16th. Cowen and Company reissued a hold rating on shares of AcelRx Pharmaceuticals in a research note on Friday, July 29th. Zacks Investment Research cut AcelRx Pharmaceuticals from a hold rating to a sell rating in a research note on Tuesday, September 27th. Stifel Nicolaus cut AcelRx Pharmaceuticals from a buy rating to a hold rating in a research note on Friday, August 5th. Finally, HC Wainwright reaffirmed a buy rating and set a $7.00 target price on shares of AcelRx Pharmaceuticals in a research note on Thursday, September 8th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the company. The company has an average rating of Hold and an average target price of $8.20.
Shares of AcelRx Pharmaceuticals (NASDAQ:ACRX) opened at 3.83 on Tuesday. The stock’s market capitalization is $173.54 million. AcelRx Pharmaceuticals has a one year low of $2.40 and a one year high of $5.88. The company’s 50-day moving average price is $3.45 and its 200 day moving average price is $3.30.
AcelRx Pharmaceuticals (NASDAQ:ACRX) last issued its quarterly earnings data on Thursday, July 28th. The specialty pharmaceutical company reported ($0.24) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.22) by $0.02. AcelRx Pharmaceuticals had a negative return on equity of 94.98% and a negative net margin of 111.47%. The company had revenue of $4.53 million for the quarter, compared to the consensus estimate of $2.17 million. Analysts anticipate that AcelRx Pharmaceuticals will post ($0.91) EPS for the current year.
In related news, major shareholder Perceptive Advisors Llc sold 216,500 shares of the business’s stock in a transaction that occurred on Thursday, September 29th. The stock was sold at an average price of $3.92, for a total value of $848,680.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 27.40% of the stock is owned by corporate insiders.
Hedge funds have recently made changes to their positions in the stock. BlackRock Fund Advisors raised its stake in shares of AcelRx Pharmaceuticals by 1,090.6% in the second quarter. BlackRock Fund Advisors now owns 921,567 shares of the specialty pharmaceutical company’s stock worth $2,479,000 after buying an additional 844,165 shares during the last quarter. State Street Corp raised its stake in AcelRx Pharmaceuticals by 2,427.4% in the second quarter. State Street Corp now owns 424,598 shares of the specialty pharmaceutical company’s stock worth $1,142,000 after buying an additional 407,798 shares in the last quarter. BlackRock Institutional Trust Company N.A. raised its stake in AcelRx Pharmaceuticals by 73.3% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 962,026 shares of the specialty pharmaceutical company’s stock worth $2,588,000 after buying an additional 406,974 shares in the last quarter. Vanguard Group Inc. raised its stake in AcelRx Pharmaceuticals by 15.1% in the second quarter. Vanguard Group Inc. now owns 1,453,751 shares of the specialty pharmaceutical company’s stock worth $3,911,000 after buying an additional 191,017 shares in the last quarter. Finally, Advisor Group Inc. bought a new stake in AcelRx Pharmaceuticals during the second quarter worth $355,000. Hedge funds and other institutional investors own 35.84% of the company’s stock.
About AcelRx Pharmaceuticals
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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