AcelRx Pharmaceuticals (NASDAQ:ACRX) Lifted to “Strong-Buy” at Zacks Investment Research

AcelRx Pharmaceuticals (NASDAQ:ACRX) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a research note issued on Monday, Zacks.com reports. The firm presently has a $2.25 price objective on the specialty pharmaceutical company’s stock. Zacks Investment Research‘s price objective would indicate a potential upside of 30.06% from the company’s previous close.

According to Zacks, “AcelRx Pharmaceuticals, Inc., is a specialty pharmaceutical company focused on the development and commercialization of therapies for the treatment of pain. The Company product candidates comprises: ARX-01 or the Sufentanil NanoTab PCA System; ARX-02 or the Sufentanil NanoTab BTP Management System; and ARX-03 or the Sufentanil/Triazolam NanoTab which are in their development stage. Its product ARX-01 is focused on acute post-operative pain, ARX-02 is focused on the treatment of cancer breakthrough pain and ARX-03 is focused on providing mild sedation, anxiety reduction, and pain relief to patients undergoing painful procedures in a physician’s office. AcelRx Pharmaceuticals, Inc. is headquartered in Redwood City, California. “

Several other equities research analysts have also recently weighed in on ACRX. HC Wainwright reaffirmed a “buy” rating and issued a $9.00 price target on shares of AcelRx Pharmaceuticals in a research report on Friday, November 8th. Credit Suisse Group cut shares of AcelRx Pharmaceuticals from an “outperform” rating to a “neutral” rating and lowered their price target for the stock from $7.00 to $2.00 in a research report on Monday. Four investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. AcelRx Pharmaceuticals has a consensus rating of “Buy” and an average target price of $6.46.

Shares of ACRX traded down $0.05 during mid-day trading on Monday, hitting $1.73. The company’s stock had a trading volume of 22,072 shares, compared to its average volume of 951,234. The company’s 50-day moving average is $2.13 and its 200-day moving average is $2.50. AcelRx Pharmaceuticals has a 52-week low of $1.70 and a 52-week high of $4.09. The firm has a market capitalization of $141.64 million, a price-to-earnings ratio of -2.14 and a beta of 2.06.

AcelRx Pharmaceuticals (NASDAQ:ACRX) last announced its quarterly earnings results on Wednesday, November 6th. The specialty pharmaceutical company reported ($0.16) earnings per share for the quarter, topping the consensus estimate of ($0.23) by $0.07. The business had revenue of $0.61 million during the quarter, compared to analysts’ expectations of $1.22 million. Research analysts expect that AcelRx Pharmaceuticals will post -0.7 EPS for the current year.

In other news, Director Mark G. Edwards bought 15,000 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The stock was bought at an average price of $2.19 per share, with a total value of $32,850.00. Following the completion of the transaction, the director now directly owns 213,750 shares of the company’s stock, valued at approximately $468,112.50. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Mark G. Edwards bought 25,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 12th. The shares were purchased at an average cost of $1.78 per share, with a total value of $44,500.00. Following the transaction, the director now directly owns 243,750 shares of the company’s stock, valued at $433,875. The disclosure for this purchase can be found here. Insiders have purchased 58,379 shares of company stock valued at $114,348 in the last three months. 7.50% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently modified their holdings of ACRX. BlackRock Inc. increased its stake in AcelRx Pharmaceuticals by 149.8% during the 2nd quarter. BlackRock Inc. now owns 6,047,743 shares of the specialty pharmaceutical company’s stock valued at $15,301,000 after purchasing an additional 3,626,486 shares in the last quarter. D. E. Shaw & Co. Inc. increased its stake in AcelRx Pharmaceuticals by 199.8% during the 2nd quarter. D. E. Shaw & Co. Inc. now owns 859,971 shares of the specialty pharmaceutical company’s stock valued at $2,175,000 after purchasing an additional 573,139 shares in the last quarter. Vanguard Group Inc. increased its stake in AcelRx Pharmaceuticals by 15.5% during the 2nd quarter. Vanguard Group Inc. now owns 3,376,567 shares of the specialty pharmaceutical company’s stock valued at $8,542,000 after purchasing an additional 451,962 shares in the last quarter. Bank of New York Mellon Corp increased its stake in AcelRx Pharmaceuticals by 306.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 253,974 shares of the specialty pharmaceutical company’s stock valued at $643,000 after purchasing an additional 191,432 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in AcelRx Pharmaceuticals by 573.3% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 191,483 shares of the specialty pharmaceutical company’s stock valued at $485,000 after purchasing an additional 163,045 shares in the last quarter. Institutional investors and hedge funds own 21.37% 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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