AcelRx Pharmaceuticals (NASDAQ:ACRX) Trading Down 8.7%

Shares of AcelRx Pharmaceuticals, Inc. (NASDAQ:ACRX) traded down 8.7% on Wednesday . The stock traded as low as $1.81 and last traded at $1.99. 17,075,264 shares were traded during trading, an increase of 113% from the average session volume of 8,014,595 shares. The stock had previously closed at $2.18.

Separately, Zacks Investment Research lowered shares of AcelRx Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Thursday, November 12th. Two analysts have rated the stock with a sell rating and three have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $4.52.

The firm’s 50-day simple moving average is $1.37 and its 200 day simple moving average is $1.38. The stock has a market capitalization of $180.05 million, a P/E ratio of -3.55 and a beta of 1.16.

AcelRx Pharmaceuticals (NASDAQ:ACRX) last posted its quarterly earnings data on Tuesday, November 10th. The specialty pharmaceutical company reported ($0.10) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.08) by ($0.02). The business had revenue of $1.37 million during the quarter, compared to analysts’ expectations of $6.15 million. Equities research analysts expect that AcelRx Pharmaceuticals, Inc. will post -0.48 EPS for the current fiscal year.

A number of institutional investors have recently made changes to their positions in the business. Lincoln Capital Corp boosted its position in shares of AcelRx Pharmaceuticals by 11.1% in the third quarter. Lincoln Capital Corp now owns 55,555 shares of the specialty pharmaceutical company’s stock valued at $79,000 after acquiring an additional 5,555 shares during the period. Cambridge Investment Research Advisors Inc. boosted its holdings in AcelRx Pharmaceuticals by 39.3% during the third quarter. Cambridge Investment Research Advisors Inc. now owns 21,283 shares of the specialty pharmaceutical company’s stock worth $30,000 after buying an additional 6,000 shares during the last quarter. Edmonds Duncan Registered Investment Advisors LLC boosted its holdings in AcelRx Pharmaceuticals by 38.5% during the third quarter. Edmonds Duncan Registered Investment Advisors LLC now owns 36,000 shares of the specialty pharmaceutical company’s stock worth $51,000 after buying an additional 10,000 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in AcelRx Pharmaceuticals by 7.4% during the second quarter. Charles Schwab Investment Management Inc. now owns 205,616 shares of the specialty pharmaceutical company’s stock worth $249,000 after buying an additional 14,133 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in AcelRx Pharmaceuticals by 6.2% during the second quarter. Bank of New York Mellon Corp now owns 247,090 shares of the specialty pharmaceutical company’s stock worth $299,000 after buying an additional 14,504 shares during the last quarter. 24.45% of the stock is owned by hedge funds and other institutional investors.

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. The company's lead product candidate is DSUVIA, a 30 mcg sufentanil sublingual tablet for the treatment of moderate-to-severe acute pain.

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