AcelRx Pharmaceuticals Inc. (ACRX) Sees Large Volume Increase
AcelRx Pharmaceuticals Inc. (NASDAQ:ACRX) shares saw unusually-high trading volume on Friday . Approximately 651,802 shares traded hands during mid-day trading, an increase of 185% from the previous session’s volume of 228,542 shares.The stock last traded at $3.47 and had previously closed at $3.08.
ACRX has been the topic of several research reports. Janney Montgomery Scott initiated coverage on AcelRx Pharmaceuticals in a report on Thursday, April 14th. They issued a “neutral” rating on the stock. HC Wainwright reissued a “buy” rating and issued a $7.00 target price (down previously from $9.00) on shares of AcelRx Pharmaceuticals in a report on Tuesday, May 3rd. Cowen and Company reaffirmed a “hold” rating on shares of AcelRx Pharmaceuticals in a research note on Monday, May 2nd. Seaport Global Securities raised AcelRx Pharmaceuticals from an “accumulate” rating to a “buy” rating in a research note on Friday, May 6th. Finally, Jefferies Group reaffirmed a “buy” rating on shares of AcelRx Pharmaceuticals in a research note on Friday, June 10th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $7.63.
The firm’s market cap is $164.48 million. The stock has a 50 day moving average price of $2.92 and a 200 day moving average price of $3.31.
AcelRx Pharmaceuticals (NASDAQ:ACRX) last announced its earnings results on Thursday, July 28th. The specialty pharmaceutical company reported ($0.24) earnings per share for the quarter, missing the consensus estimate of ($0.22) by $0.02. The business earned $4.53 million during the quarter, compared to analysts’ expectations of $2.17 million. On average, equities research analysts predict that AcelRx Pharmaceuticals Inc. will post ($0.89) earnings per share for the current year.
In other news, Director Mark G. Edwards acquired 15,000 shares of the company’s stock in a transaction dated Thursday, May 12th. The shares were bought at an average price of $3.15 per share, with a total value of $47,250.00. Following the purchase, the director now owns 105,000 shares of the company’s stock, valued at $330,750. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Howard B. Rosen acquired 10,206 shares of the company’s stock in a transaction dated Friday, May 13th. The stock was purchased at an average cost of $3.26 per share, for a total transaction of $33,271.56. Following the purchase, the chief executive officer now directly owns 50,000 shares in the company, valued at approximately $163,000. 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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