AcelRx Pharmaceuticals (NASDAQ:ACRX) Shares Down 5.1%

AcelRx Pharmaceuticals Inc (NASDAQ:ACRX)’s share price dropped 5.1% during trading on Friday . The stock traded as low as $2.29 and last traded at $2.42, approximately 1,397,812 shares traded hands during mid-day trading. A decline of 23% from the average daily volume of 1,813,605 shares. The stock had previously closed at $2.55.

Several brokerages have recently weighed in on ACRX. ValuEngine downgraded AcelRx Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Thursday, May 9th. Credit Suisse Group reaffirmed an “outperform” rating on shares of AcelRx Pharmaceuticals in a research note on Wednesday, July 10th. Zacks Investment Research downgraded AcelRx Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Tuesday, July 9th. B. Riley began coverage on AcelRx Pharmaceuticals in a research note on Wednesday, April 24th. They set a “buy” rating and a $6.50 target price for the company. Finally, LADENBURG THALM/SH SH reaffirmed a “buy” rating and set a $10.00 target price on shares of AcelRx Pharmaceuticals in a research note on Thursday, May 9th. Four analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $7.47.

The business’s 50 day simple moving average is $2.53. The company has a debt-to-equity ratio of 0.79, a current ratio of 5.03 and a quick ratio of 4.91.

AcelRx Pharmaceuticals (NASDAQ:ACRX) last issued its earnings results on Wednesday, May 8th. The specialty pharmaceutical company reported ($0.17) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.23) by $0.06. The company had revenue of $0.27 million during the quarter, compared to analyst estimates of $0.85 million. As a group, research analysts anticipate that AcelRx Pharmaceuticals Inc will post -0.84 EPS for the current year.

Institutional investors and hedge funds have recently modified their holdings of the business. Resources Investment Advisors Inc. acquired a new stake in shares of AcelRx Pharmaceuticals in the 1st quarter worth $34,000. WINTON GROUP Ltd acquired a new stake in shares of AcelRx Pharmaceuticals in the 2nd quarter worth $40,000. Raymond James & Associates increased its stake in shares of AcelRx Pharmaceuticals by 96.7% in the 4th quarter. Raymond James & Associates now owns 29,500 shares of the specialty pharmaceutical company’s stock worth $68,000 after acquiring an additional 14,500 shares during the last quarter. Ahrens Investment Partners LLC acquired a new stake in shares of AcelRx Pharmaceuticals in the 1st quarter worth $108,000. Finally, Weiss Asset Management LP acquired a new stake in shares of AcelRx Pharmaceuticals in the 1st quarter worth $113,000. 15.49% of the stock is owned by institutional investors and hedge funds.

AcelRx Pharmaceuticals Company Profile (NASDAQ:ACRX)

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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