AcelRx Pharmaceuticals Inc (NASDAQ:ACRX) has earned a consensus rating of “Buy” from the eleven research firms that are currently covering the company, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold rating and nine have issued a buy rating on the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $7.84.
ACRX has been the subject of a number of research analyst reports. Zacks Investment Research lowered AcelRx Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Thursday, January 3rd. Cantor Fitzgerald set a $9.00 price objective on AcelRx Pharmaceuticals and gave the stock a “buy” rating in a report on Tuesday, January 29th. Credit Suisse Group initiated coverage on AcelRx Pharmaceuticals in a report on Friday, February 15th. They issued an “outperform” rating and a $7.00 price objective for the company. LADENBURG THALM/SH SH set a $10.00 price objective on AcelRx Pharmaceuticals and gave the stock a “buy” rating in a report on Friday, March 8th. Finally, BidaskClub raised AcelRx Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Monday, April 1st.
NASDAQ:ACRX traded up $0.02 during trading hours on Friday, reaching $3.38. 772,577 shares of the company traded hands, compared to its average volume of 1,283,095. The stock has a market capitalization of $266.20 million, a price-to-earnings ratio of -4.17 and a beta of 2.15. AcelRx Pharmaceuticals has a 1 year low of $1.99 and a 1 year high of $5.05. The company has a current ratio of 6.78, a quick ratio of 6.73 and a debt-to-equity ratio of 0.79.
In other AcelRx Pharmaceuticals news, Director Mark G. Edwards acquired 19,000 shares of the stock in a transaction dated Tuesday, March 12th. The shares were acquired at an average cost of $2.99 per share, for a total transaction of $56,810.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders bought 26,721 shares of company stock worth $78,506 over the last 90 days. Company insiders own 25.50% of the company’s stock.
Several large investors have recently bought and sold shares of the stock. Raymond James & Associates raised its position in AcelRx Pharmaceuticals by 96.7% during the fourth quarter. Raymond James & Associates now owns 29,500 shares of the specialty pharmaceutical company’s stock valued at $68,000 after purchasing an additional 14,500 shares during the period. First National Bank of Mount Dora Trust Investment Services purchased a new stake in AcelRx Pharmaceuticals during the first quarter valued at approximately $70,000. Mercer Global Advisors Inc. ADV purchased a new stake in AcelRx Pharmaceuticals during the first quarter valued at approximately $79,000. Two Sigma Advisers LP purchased a new stake in AcelRx Pharmaceuticals during the fourth quarter valued at approximately $89,000. Finally, Cedar Wealth Management LLC raised its position in AcelRx Pharmaceuticals by 36.9% during the fourth quarter. Cedar Wealth Management LLC now owns 46,395 shares of the specialty pharmaceutical company’s stock valued at $107,000 after purchasing an additional 12,500 shares during the period. Institutional investors own 18.88% of the company’s stock.
AcelRx Pharmaceuticals Company Profile
AcelRx Pharmaceuticals, Inc, a specialty pharmaceutical company, focuses on the development and commercialization of therapies for the treatment of acute pain. Its lead product candidate is DSUVIA, a 30 mcg sufentanil sublingual tablet for the treatment of moderate-to-severe acute pain. The company also develops ZALVISO, a pre-programmed and patient-controlled analgesia system that allows hospital patients with moderate-to-severe acute pain to self-dose with sufentanil sublingual tablets to manage their pain.
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