AcelRx Pharmaceuticals Inc. (NASDAQ:ACRX) had its target price increased by equities research analysts at Roth Capital from $11.25 to $15.00 in a research note issued to investors on Thursday. The firm presently has a “buy” rating on the specialty pharmaceutical company’s stock. Roth Capital’s target price indicates a potential upside of 322.54% from the company’s previous close.

Several other brokerages have also recently issued reports on ACRX. Jefferies Group reaffirmed a “buy” rating on shares of AcelRx Pharmaceuticals in a report on Friday, June 10th. RBC Capital Markets reaffirmed a “positive” rating and set a $6.00 price objective on shares of AcelRx Pharmaceuticals in a report on Tuesday, August 16th. Cowen and Company reaffirmed a “hold” rating on shares of AcelRx Pharmaceuticals in a report on Friday, July 29th. HC Wainwright restated a “buy” rating and set a $7.00 price target on shares of AcelRx Pharmaceuticals in a report on Thursday, September 8th. Finally, Stifel Nicolaus lowered AcelRx Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Friday, August 5th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $8.20.

Shares of AcelRx Pharmaceuticals (NASDAQ:ACRX) opened at 3.55 on Thursday. AcelRx Pharmaceuticals has a 12-month low of $2.40 and a 12-month high of $5.88. The company has a 50-day moving average of $3.39 and a 200 day moving average of $3.30. The company’s market cap is $160.86 million.

AcelRx Pharmaceuticals (NASDAQ:ACRX) last issued its quarterly earnings data on Thursday, July 28th. The specialty pharmaceutical company reported ($0.24) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.22) by $0.02. The firm had revenue of $4.53 million for the quarter, compared to analysts’ expectations of $2.17 million. AcelRx Pharmaceuticals had a negative return on equity of 94.98% and a negative net margin of 111.47%. On average, equities research analysts expect that AcelRx Pharmaceuticals will post ($0.91) EPS for the current year.

In other AcelRx Pharmaceuticals news, major shareholder Perceptive Advisors Llc sold 392,850 shares of the company’s stock in a transaction on Thursday, September 15th. The stock was sold at an average price of $3.70, for a total value of $1,453,545.00. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 27.40% of the stock is owned by company insiders.

A number of institutional investors have recently made changes to their positions in the stock. Rhumbline Advisers acquired a new position in shares of AcelRx Pharmaceuticals during the second quarter valued at approximately $103,000. Teachers Advisors Inc. acquired a new position in shares of AcelRx Pharmaceuticals during the second quarter valued at approximately $157,000. BlackRock Institutional Trust Company N.A. increased its position in shares of AcelRx Pharmaceuticals by 73.3% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 962,026 shares of the specialty pharmaceutical company’s stock valued at $2,588,000 after buying an additional 406,974 shares during the period. BlackRock Fund Advisors increased its position in shares of AcelRx Pharmaceuticals by 1,090.6% in the second quarter. BlackRock Fund Advisors now owns 921,567 shares of the specialty pharmaceutical company’s stock valued at $2,479,000 after buying an additional 844,165 shares during the period. Finally, BlackRock Investment Management LLC increased its position in shares of AcelRx Pharmaceuticals by 2,239.6% in the second quarter. BlackRock Investment Management LLC now owns 132,237 shares of the specialty pharmaceutical company’s stock valued at $356,000 after buying an additional 126,585 shares during the period. 35.84% of the stock is currently owned by institutional investors.

AcelRx Pharmaceuticals Company Profile

AcelRx Pharmaceuticals, Inc is a pharmaceutical company focused on the development and commercialization of therapies for the treatment of moderate-to-severe acute pain. The Company operates through the segment, which includes development and commercialization of product candidates for the treatment of pain.

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