AcelRx Pharmaceuticals, Inc. (ACRX) Sees Significant Growth in Short Interest
AcelRx Pharmaceuticals, Inc. (NASDAQ:ACRX) was the recipient of a significant growth in short interest in October. As of October 31st, there was short interest totalling 7,094,582 shares, a growth of 22.4% from the October 13th total of 5,796,138 shares. Currently, 20.2% of the shares of the stock are short sold. Based on an average trading volume of 1,976,982 shares, the days-to-cover ratio is presently 3.6 days.
Shares of AcelRx Pharmaceuticals (ACRX) opened at $1.90 on Thursday. The company has a current ratio of 4.78, a quick ratio of 4.71 and a debt-to-equity ratio of -0.43. AcelRx Pharmaceuticals has a 52 week low of $1.55 and a 52 week high of $5.75.
In other AcelRx Pharmaceuticals news, insider Pamela P. Palmer acquired 10,000 shares of the business’s stock in a transaction on Tuesday, August 22nd. The stock was purchased at an average price of $2.95 per share, for a total transaction of $29,500.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Vincent J. Angotti acquired 15,000 shares of the business’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 transaction, the chief executive officer now directly owns 15,000 shares of the company’s stock, valued at approximately $45,000. The disclosure for this purchase can be found here. Insiders acquired 72,000 shares of company stock valued at $178,980 in the last quarter. 28.10% of the stock is currently owned by company insiders.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Perennial Advisors LLC acquired a new stake in shares of AcelRx Pharmaceuticals during the third quarter valued at $138,000. Virtu KCG Holdings LLC boosted its stake 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 valued at $255,000 after acquiring an additional 101,742 shares during the last quarter. LMR Partners LLP acquired a new stake in shares of AcelRx Pharmaceuticals during the second quarter valued at $319,000. Bank of New York Mellon Corp boosted its stake in shares of AcelRx Pharmaceuticals by 6.6% during the first 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 last quarter. Finally, WealthTrust Axiom LLC boosted its stake 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 valued at $451,000 after acquiring an additional 70,000 shares during the last quarter. 23.09% of the stock is currently owned by institutional investors and hedge funds.
ACRX has been the topic of several research reports. Royal Bank Of Canada set a $6.00 target price on AcelRx Pharmaceuticals and gave the company a “buy” rating in a report on Friday, August 25th. ValuEngine lowered AcelRx Pharmaceuticals from a “sell” rating to a “strong sell” rating in a report on Friday, September 15th. HC Wainwright reissued a “buy” rating and issued a $10.00 target price on shares of AcelRx Pharmaceuticals in a report on Tuesday, October 3rd. Piper Jaffray Companies reissued a “hold” rating and issued a $2.00 target price on shares of AcelRx Pharmaceuticals in a report on Friday, October 13th. Finally, Roth Capital set a $13.00 target price on AcelRx Pharmaceuticals and gave the company a “buy” rating in a report on Wednesday, August 2nd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the stock. AcelRx Pharmaceuticals currently has a consensus rating of “Hold” and a consensus price target of $6.83.
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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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