AcelRx Pharmaceuticals, Inc. (ACRX) PT Set at $8.00 by Roth Capital
Roth Capital set a $8.00 price target on AcelRx Pharmaceuticals, Inc. (NASDAQ:ACRX) in a report issued on Thursday. The firm currently has a buy rating on the specialty pharmaceutical company’s stock.
A number of other brokerages also recently commented on ACRX. Zacks Investment Research downgraded shares of AcelRx Pharmaceuticals from a hold rating to a sell rating in a research note on Tuesday, July 11th. ValuEngine downgraded shares of AcelRx Pharmaceuticals from a hold rating to a sell rating in a research note on Tuesday, August 1st. HC Wainwright reaffirmed a buy rating and set a $7.00 target price on shares of AcelRx Pharmaceuticals in a research note on Friday, August 4th. Jefferies Group LLC reaffirmed a buy rating and set a $7.00 target price on shares of AcelRx Pharmaceuticals in a research note on Friday, July 14th. Finally, Piper Jaffray Companies set a $3.00 target price on shares of AcelRx Pharmaceuticals and gave the stock a hold rating in a research note on Tuesday, July 25th. One analyst has rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the company’s stock. AcelRx Pharmaceuticals presently has a consensus rating of Hold and a consensus price target of $7.67.
AcelRx Pharmaceuticals (ACRX) opened at 2.125 on Thursday. The company’s market capitalization is $96.43 million. AcelRx Pharmaceuticals has a one year low of $1.95 and a one year high of $5.75. The company’s 50-day moving average is $3.80 and its 200 day moving average is $2.97.
AcelRx Pharmaceuticals (NASDAQ:ACRX) last issued its earnings results on Tuesday, August 1st. The specialty pharmaceutical company reported ($0.29) EPS for the quarter, missing analysts’ consensus estimates of ($0.28) by ($0.01). The business had revenue of $2.66 million for the quarter, compared to the consensus estimate of $2.63 million. On average, equities analysts anticipate that AcelRx Pharmaceuticals will post ($1.13) earnings per share for the current year.
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In related news, CEO Vincent J. Angotti purchased 15,000 shares of AcelRx Pharmaceuticals stock in a transaction dated Thursday, August 24th. The shares were acquired 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 owns 15,000 shares of the company’s stock, valued at $45,000. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Pamela P. Palmer purchased 10,000 shares of AcelRx Pharmaceuticals stock in a transaction dated Tuesday, August 22nd. The stock was bought at an average cost of $2.95 per share, for a total transaction of $29,500.00. The disclosure for this purchase can be found here. Insiders bought a total of 37,000 shares of company stock worth $112,280 over the last three months. Insiders own 28.10% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the company. LMR Partners LLP purchased a new stake in shares of AcelRx Pharmaceuticals in the 2nd quarter valued at approximately $319,000. Teachers Advisors LLC raised its stake in shares of AcelRx Pharmaceuticals by 14.6% in the 4th quarter. Teachers Advisors LLC now owns 66,715 shares of the specialty pharmaceutical company’s stock valued at $173,000 after acquiring an additional 8,475 shares during the period. WealthTrust Axiom LLC raised its stake in shares of AcelRx Pharmaceuticals by 50.0% in the 2nd quarter. WealthTrust Axiom LLC now owns 210,000 shares of the specialty pharmaceutical company’s stock valued at $451,000 after acquiring an additional 70,000 shares during the period. Bank of New York Mellon Corp raised its stake in shares of AcelRx Pharmaceuticals by 6.6% in the 1st quarter. Bank of New York Mellon Corp now owns 112,682 shares of the specialty pharmaceutical company’s stock valued at $355,000 after acquiring an additional 6,942 shares during the period. Finally, Goldman Sachs Group Inc. purchased a new stake in shares of AcelRx Pharmaceuticals in the 2nd quarter valued at approximately $530,000. 23.32% of the stock is currently 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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