AcelRx Pharmaceuticals Inc (ACRX) Given Average Rating of “Buy” by Brokerages
AcelRx Pharmaceuticals Inc (NASDAQ:ACRX) has earned a consensus rating of “Buy” from the ten ratings firms that are covering the stock, Marketbeat reports. One analyst has rated the stock with a hold rating and nine have issued a buy rating on the company. The average 12-month price objective among brokers that have covered the stock in the last year is $7.78.
ACRX has been the subject of several research reports. Zacks Investment Research upgraded shares of AcelRx Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Friday, December 14th. HC Wainwright reaffirmed a “buy” rating and set a $9.00 price objective on shares of AcelRx Pharmaceuticals in a report on Wednesday, December 12th. ValuEngine raised shares of AcelRx Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Friday, November 2nd. Oppenheimer reissued a “hold” rating on shares of AcelRx Pharmaceuticals in a report on Tuesday, December 11th. Finally, Cantor Fitzgerald upped their price objective on shares of AcelRx Pharmaceuticals from $8.00 to $9.00 and gave the stock an “overweight” rating in a research report on Monday, November 5th.
ACRX stock traded up $0.30 during midday trading on Friday, reaching $3.66. 3,941,604 shares of the company’s stock traded hands, compared to its average volume of 1,958,871. The firm has a market capitalization of $198.10 million, a PE ratio of -3.33 and a beta of 1.99. AcelRx Pharmaceuticals has a 52 week low of $1.65 and a 52 week high of $5.05.
A number of hedge funds and other institutional investors have recently bought and sold shares of ACRX. Raymond James & Associates increased its position in shares of AcelRx Pharmaceuticals by 96.7% during the 4th quarter. Raymond James & Associates now owns 29,500 shares of the specialty pharmaceutical company’s stock valued at $68,000 after purchasing an additional 14,500 shares during the last quarter. Two Sigma Advisers LP bought a new position in shares of AcelRx Pharmaceuticals during the 4th quarter worth $89,000. Cedar Wealth Management LLC grew its position in shares of AcelRx Pharmaceuticals by 36.9% during the 4th quarter. Cedar Wealth Management LLC now owns 46,395 shares of the specialty pharmaceutical company’s stock worth $107,000 after buying an additional 12,500 shares in the last quarter. Cornerstone Capital Inc. bought a new position in shares of AcelRx Pharmaceuticals during the 3rd quarter worth $154,000. Finally, Bank of New York Mellon Corp lifted its stake in shares of AcelRx Pharmaceuticals by 55.1% during the 4th quarter. Bank of New York Mellon Corp now owns 67,149 shares of the specialty pharmaceutical company’s stock worth $155,000 after purchasing an additional 23,866 shares during the last quarter. 16.22% of the stock is currently owned by institutional investors.
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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