AcelRx Pharmaceuticals Inc (NASDAQ:ACRX) shot up 11.4% during mid-day trading on Monday . The company traded as high as $3.95 and last traded at $4.40. 40,590 shares traded hands during mid-day trading, a decline of 92% from the average session volume of 530,351 shares. The stock had previously closed at $3.95.

A number of brokerages have recently issued reports on ACRX. Zacks Investment Research cut shares of AcelRx Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Tuesday, July 31st. Cantor Fitzgerald initiated coverage on shares of AcelRx Pharmaceuticals in a report on Monday, June 11th. They issued a “buy” rating and a $6.00 price target on the stock. Oppenheimer initiated coverage on shares of AcelRx Pharmaceuticals in a report on Thursday, July 12th. They issued a “hold” rating on the stock. HC Wainwright reissued a “buy” rating on shares of AcelRx Pharmaceuticals in a report on Tuesday, August 7th. Finally, LADENBURG THALM/SH SH initiated coverage on shares of AcelRx Pharmaceuticals in a report on Thursday, August 16th. They issued a “buy” rating and a $7.00 price target on the stock. Five investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $5.21.

The firm has a market cap of $239.37 million, a price-to-earnings ratio of -3.80 and a beta of 2.09. The company has a current ratio of 4.01, a quick ratio of 3.96 and a debt-to-equity ratio of -0.15.

AcelRx Pharmaceuticals (NASDAQ:ACRX) last released its quarterly earnings results on Thursday, August 2nd. The specialty pharmaceutical company reported ($0.20) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.19) by ($0.01). The business had revenue of $0.82 million for the quarter, compared to analysts’ expectations of $0.93 million. equities analysts anticipate that AcelRx Pharmaceuticals Inc will post -0.83 EPS for the current year.

In related news, CEO Vincent J. Angotti purchased 10,000 shares of the stock in a transaction on Tuesday, August 7th. The shares were purchased at an average cost of $2.90 per share, with a total value of $29,000.00. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Pamela P. Palmer purchased 37,000 shares of the stock in a transaction on Monday, August 6th. The stock was bought at an average cost of $2.75 per share, for a total transaction of $101,750.00. The disclosure for this purchase can be found here. Over the last three months, insiders acquired 57,300 shares of company stock worth $159,552. Insiders own 25.50% of the company’s stock.

Several large investors have recently made changes to their positions in the business. Renaissance Technologies LLC acquired a new position in shares of AcelRx Pharmaceuticals during the 2nd quarter worth approximately $1,676,000. FMR LLC grew its position in shares of AcelRx Pharmaceuticals by 1,094.6% during the 2nd quarter. FMR LLC now owns 298,644 shares of the specialty pharmaceutical company’s stock worth $1,008,000 after purchasing an additional 273,644 shares in the last quarter. BlackRock Inc. grew its position in shares of AcelRx Pharmaceuticals by 2.7% during the 2nd quarter. BlackRock Inc. now owns 673,115 shares of the specialty pharmaceutical company’s stock worth $2,271,000 after purchasing an additional 17,737 shares in the last quarter. Granite Investment Partners LLC acquired a new position in shares of AcelRx Pharmaceuticals during the 2nd quarter worth approximately $182,000. Finally, Lincoln Capital Corp acquired a new position in shares of AcelRx Pharmaceuticals during the 2nd quarter worth approximately $116,000. Hedge funds and other institutional investors own 8.59% of the company’s stock.

About AcelRx Pharmaceuticals (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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