AcelRx Pharmaceuticals, Inc. (ACRX) Stock Rating Lowered by ValuEngine
AcelRx Pharmaceuticals, Inc. (NASDAQ:ACRX) was downgraded by stock analysts at ValuEngine from a “sell” rating to a “strong sell” rating in a research report issued to clients and investors on Friday.
A number of other research firms have also recently commented on ACRX. Piper Jaffray Companies set a $3.00 target price on shares of AcelRx Pharmaceuticals and gave the company a “hold” rating in a research report on Tuesday, July 25th. Roth Capital set a $13.00 target price on shares of AcelRx Pharmaceuticals and gave the company a “buy” rating in a research report on Wednesday, August 2nd. Cowen and Company reissued a “hold” rating on shares of AcelRx Pharmaceuticals in a research report on Tuesday, August 1st. Royal Bank Of Canada set a $6.00 target price on shares of AcelRx Pharmaceuticals and gave the company a “buy” rating in a research report on Friday, August 25th. Finally, Stifel Nicolaus raised shares of AcelRx Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Wednesday, August 9th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the company’s stock. AcelRx Pharmaceuticals presently has an average rating of “Hold” and a consensus target price of $7.50.
AcelRx Pharmaceuticals (NASDAQ:ACRX) opened at 3.10 on Friday. AcelRx Pharmaceuticals has a one year low of $1.95 and a one year high of $4.08. The stock’s market capitalization is $140.68 million. The company has a 50-day moving average of $3.12 and a 200-day moving average of $2.81.
AcelRx Pharmaceuticals (NASDAQ:ACRX) last posted its earnings results on Tuesday, August 1st. The specialty pharmaceutical company reported ($0.29) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.28) by ($0.01). AcelRx Pharmaceuticals had a negative net margin of 319.19% and a negative return on equity of 478.66%. The firm had revenue of $2.66 million for the quarter, compared to analysts’ expectations of $2.63 million. On average, equities analysts forecast that AcelRx Pharmaceuticals will post ($1.13) EPS for the current fiscal year.
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In related news, CEO Vincent J. Angotti purchased 15,000 shares of the firm’s stock in a transaction on Thursday, August 24th. The stock was acquired at an average price of $3.00 per share, with a total value of $45,000.00. Following the completion of the acquisition, the chief executive officer now owns 15,000 shares in the company, valued at approximately $45,000. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Pamela P. Palmer purchased 10,000 shares of the firm’s stock in a transaction on Tuesday, August 22nd. The stock was bought 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. In the last ninety days, insiders acquired 37,000 shares of company stock valued at $112,280. Corporate insiders own 28.10% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of ACRX. Goldman Sachs Group Inc. purchased a new position in shares of AcelRx Pharmaceuticals in the second quarter worth $530,000. LMR Partners LLP purchased a new position in shares of AcelRx Pharmaceuticals during the second quarter worth $319,000. Virtu KCG Holdings LLC raised its holdings in shares of AcelRx Pharmaceuticals by 600.9% during the second quarter. Virtu KCG Holdings LLC now owns 118,675 shares of the specialty pharmaceutical company’s stock worth $255,000 after purchasing an additional 101,742 shares during the last quarter. WealthTrust Axiom LLC raised its holdings in shares of AcelRx Pharmaceuticals by 50.0% during the second quarter. WealthTrust Axiom LLC now owns 210,000 shares of the specialty pharmaceutical company’s stock worth $451,000 after purchasing an additional 70,000 shares during the last quarter. Finally, Acadian Asset Management LLC raised its holdings in shares of AcelRx Pharmaceuticals by 326.1% during the first quarter. Acadian Asset Management LLC now owns 41,927 shares of the specialty pharmaceutical company’s stock worth $132,000 after purchasing an additional 32,087 shares during the last quarter. 23.32% 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.
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