AcelRx Pharmaceuticals, Inc. (ACRX) Sees Large Volume Increase
AcelRx Pharmaceuticals, Inc. (NASDAQ:ACRX) saw unusually-strong trading volume on Friday . Approximately 2,395,779 shares traded hands during mid-day trading, an increase of 102% from the previous session’s volume of 1,187,550 shares.The stock last traded at $3.30 and had previously closed at $3.25.
A number of equities research analysts have recently commented on ACRX shares. Stifel Nicolaus raised shares of AcelRx Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Wednesday, August 9th. Royal Bank Of Canada set a $6.00 target price on shares of AcelRx Pharmaceuticals and gave the company a “buy” rating in a report on Friday, August 25th. Zacks Investment Research cut shares of AcelRx Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Tuesday, July 11th. HC Wainwright reaffirmed a “buy” rating and issued a $7.00 target price on shares of AcelRx Pharmaceuticals in a report on Friday, August 4th. Finally, Piper Jaffray Companies set a $3.00 target price on shares of AcelRx Pharmaceuticals and gave the company a “hold” rating in a report on Tuesday, July 25th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $7.50.
The stock has a 50-day moving average of $3.17 and a 200-day moving average of $2.81. The stock’s market capitalization is $149.75 million.
AcelRx Pharmaceuticals (NASDAQ:ACRX) last posted its earnings results on Tuesday, August 1st. The specialty pharmaceutical company reported ($0.29) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.28) by $0.01. The firm had revenue of $2.66 million for the quarter, compared to analyst estimates of $2.63 million. AcelRx Pharmaceuticals had a negative net margin of 319.19% and a negative return on equity of 478.66%. Equities analysts predict that AcelRx Pharmaceuticals, Inc. will post ($1.13) EPS for the current fiscal year.
In other news, CEO Vincent J. Angotti bought 15,000 shares of AcelRx Pharmaceuticals stock in a transaction on Thursday, August 24th. The stock was purchased at an average cost of $3.00 per share, with a total value of $45,000.00. Following the purchase, the chief executive officer now directly owns 15,000 shares of the company’s stock, valued at approximately $45,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Pamela P. Palmer bought 10,000 shares of AcelRx Pharmaceuticals stock in a transaction on Tuesday, August 22nd. The shares were purchased at an average cost of $2.95 per share, with a total value of $29,500.00. The disclosure for this purchase can be found here. Insiders have acquired a total of 30,000 shares of company stock valued at $89,600 over the last three months. 28.10% of the stock is currently owned by company insiders.
A number of institutional investors have recently bought and sold shares of the business. Goldman Sachs Group Inc. acquired a new position in AcelRx Pharmaceuticals during the 2nd quarter valued at about $530,000. WealthTrust Axiom LLC raised its position in shares of AcelRx Pharmaceuticals by 50.0% during the 2nd quarter. WealthTrust Axiom LLC now owns 210,000 shares of the specialty pharmaceutical company’s stock worth $451,000 after buying an additional 70,000 shares in the last quarter. LMR Partners LLP bought a new stake in shares of AcelRx Pharmaceuticals during the 2nd quarter worth about $319,000. Virtu KCG Holdings LLC raised its position in shares of AcelRx Pharmaceuticals by 600.9% during the 2nd quarter. Virtu KCG Holdings LLC now owns 118,675 shares of the specialty pharmaceutical company’s stock worth $255,000 after buying an additional 101,742 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its position in shares of AcelRx Pharmaceuticals by 6.6% during the 1st 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 in the last quarter. 23.32% of the stock is owned by hedge funds and other institutional investors.
AcelRx Pharmaceuticals Company Profile
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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