AcelRx Pharmaceuticals, Inc. (NASDAQ:ACRX) received a $3.00 target price from equities researchers at Piper Jaffray Companies in a research report issued to clients and investors on Tuesday. The brokerage currently has a “hold” rating on the specialty pharmaceutical company’s stock. Piper Jaffray Companies’ target price suggests a potential downside of 18.92% from the company’s previous close.

ACRX has been the subject of a number of other research reports. Zacks Investment Research raised shares of AcelRx Pharmaceuticals from a “hold” rating to a “buy” rating and set a $3.00 target price for the company in a research report on Wednesday, May 3rd. ValuEngine raised shares of AcelRx Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Monday. Finally, Jefferies Group LLC reissued a “buy” rating and set a $7.00 target price on shares of AcelRx Pharmaceuticals in a research report on Friday, July 14th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the company’s stock. AcelRx Pharmaceuticals has an average rating of “Hold” and an average target price of $7.86.

Shares of AcelRx Pharmaceuticals (ACRX) traded down 2.63% on Tuesday, hitting $3.70. 907,373 shares of the company were exchanged. The company has a 50-day moving average price of $2.42 and a 200 day moving average price of $2.72. AcelRx Pharmaceuticals has a 52-week low of $1.95 and a 52-week high of $4.08. The firm’s market cap is $167.91 million.

AcelRx Pharmaceuticals (NASDAQ:ACRX) last posted its earnings results on Monday, May 8th. The specialty pharmaceutical company reported ($0.34) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.28) by $0.06. The business had revenue of $3.11 million for the quarter, compared to analyst estimates of $2.36 million. AcelRx Pharmaceuticals had a negative return on equity of 478.66% and a negative net margin of 273.65%. Analysts predict that AcelRx Pharmaceuticals will post ($1.15) EPS for the current fiscal year.

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In other AcelRx Pharmaceuticals news, major shareholder Life Sciences Maste Perceptive sold 875,000 shares of the stock in a transaction that occurred on Monday, June 19th. The shares were sold at an average price of $2.40, for a total value of $2,100,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 28.10% of the stock is owned by company insiders.

Several hedge funds have recently added to or reduced their stakes in ACRX. ING Groep NV increased its stake in AcelRx Pharmaceuticals by 200.0% in the first quarter. ING Groep NV now owns 39,000 shares of the specialty pharmaceutical company’s stock worth $123,000 after buying an additional 26,000 shares during the last quarter. Acadian Asset Management LLC increased its stake in AcelRx Pharmaceuticals by 326.1% in the first quarter. Acadian Asset Management LLC now owns 41,927 shares of the specialty pharmaceutical company’s stock worth $132,000 after buying an additional 32,087 shares during the last quarter. Teachers Advisors LLC increased its stake in AcelRx Pharmaceuticals by 14.6% in the fourth quarter. Teachers Advisors LLC now owns 66,715 shares of the specialty pharmaceutical company’s stock worth $173,000 after buying an additional 8,475 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its stake in AcelRx Pharmaceuticals by 6.6% in the first quarter. Bank of New York Mellon Corp now owns 112,682 shares of the specialty pharmaceutical company’s stock worth $355,000 after buying an additional 6,942 shares during the last quarter. 30.32% of the stock is owned by institutional investors and hedge funds.

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.

Analyst Recommendations for AcelRx Pharmaceuticals (NASDAQ:ACRX)

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