Shares of AcelRx Pharmaceuticals Inc (NASDAQ:ACRX) have been assigned an average rating of “Buy” from the ten ratings firms that are currently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $7.84.
ACRX has been the topic of a number of research reports. Cantor Fitzgerald set a $9.00 price target on AcelRx Pharmaceuticals and gave the stock a “buy” rating in a report on Tuesday, January 29th. Zacks Investment Research upgraded AcelRx Pharmaceuticals from a “hold” rating to a “buy” rating and set a $3.25 price target on the stock in a report on Tuesday, January 8th. 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 target on the stock. Oppenheimer restated a “hold” rating on shares of AcelRx Pharmaceuticals in a report on Tuesday, December 11th. Finally, LADENBURG THALM/SH SH set a $10.00 price target on AcelRx Pharmaceuticals and gave the stock a “buy” rating in a report on Friday, March 8th.
NASDAQ ACRX opened at $3.48 on Wednesday. The company has a debt-to-equity ratio of 0.79, a quick ratio of 6.73 and a current ratio of 6.78. AcelRx Pharmaceuticals has a 12-month low of $1.99 and a 12-month high of $5.05. The company has a market cap of $274.09 million, a price-to-earnings ratio of -4.30 and a beta of 2.15.
In related news, Director Mark G. Edwards bought 19,000 shares of the stock in a transaction on Tuesday, March 12th. The shares were purchased at an average price of $2.99 per share, for a total transaction of $56,810.00. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. In the last quarter, insiders have acquired 26,721 shares of company stock worth $78,506. 25.50% of the stock is owned by insiders.
Large investors have recently made changes to their positions in the business. Raymond James & Associates grew its holdings in AcelRx Pharmaceuticals by 96.7% during the 4th quarter. Raymond James & Associates now owns 29,500 shares of the specialty pharmaceutical company’s stock valued at $68,000 after buying an additional 14,500 shares during the last quarter. Two Sigma Advisers LP acquired a new stake in AcelRx Pharmaceuticals during the 4th quarter valued at $89,000. Cedar Wealth Management LLC grew its holdings in AcelRx Pharmaceuticals by 36.9% during the 4th quarter. Cedar Wealth Management LLC now owns 46,395 shares of the specialty pharmaceutical company’s stock valued at $107,000 after buying an additional 12,500 shares during the last quarter. Cornerstone Capital Inc. acquired a new stake in AcelRx Pharmaceuticals during the 3rd quarter valued at $154,000. Finally, Bank of New York Mellon Corp grew its holdings in AcelRx Pharmaceuticals by 55.1% during the 4th quarter. Bank of New York Mellon Corp now owns 67,149 shares of the specialty pharmaceutical company’s stock valued at $155,000 after buying an additional 23,866 shares during the last quarter. Hedge funds and other institutional investors own 18.66% 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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