AcelRx Pharmaceuticals Inc (ACRX) Given Average Rating of “Buy” by Brokerages
AcelRx Pharmaceuticals Inc (NASDAQ:ACRX) has received a consensus recommendation of “Buy” from the nine research firms that are presently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average 1-year target price among brokerages that have covered the stock in the last year is $7.89.
Several research analysts recently weighed in on the stock. Zacks Investment Research upgraded shares of AcelRx Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Friday, December 14th. Oppenheimer reissued a “hold” rating on shares of AcelRx Pharmaceuticals in a research report on Monday, October 15th. Cantor Fitzgerald set a $8.00 price objective on AcelRx Pharmaceuticals and gave the stock a “buy” rating in a research report on Thursday, October 25th. Finally, HC Wainwright restated a “buy” rating and issued a $9.00 target price on shares of AcelRx Pharmaceuticals in a research note on Wednesday, December 12th.
In other AcelRx Pharmaceuticals news, insider Badri N. Dasu sold 28,351 shares of the company’s stock in a transaction dated Monday, October 15th. The stock was sold at an average price of $5.00, for a total value of $141,755.00. Following the transaction, the insider now directly owns 54,061 shares in the company, valued at approximately $270,305. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Vincent J. Angotti bought 10,000 shares of the firm’s stock in a transaction on Wednesday, December 12th. The stock was acquired at an average price of $2.99 per share, for a total transaction of $29,900.00. Following the completion of the purchase, the chief executive officer now directly owns 51,040 shares in the company, valued at $152,609.60. The disclosure for this purchase can be found here. Over the last quarter, insiders have purchased 60,310 shares of company stock worth $176,980. 25.50% of the stock is currently owned by corporate insiders.
Shares of ACRX stock traded down $0.08 during trading hours on Friday, hitting $2.63. The stock had a trading volume of 36,506 shares, compared to its average volume of 1,644,405. AcelRx Pharmaceuticals has a one year low of $1.65 and a one year high of $5.05. The stock has a market capitalization of $170.24 million, a price-to-earnings ratio of -2.41 and a beta of 2.02.
AcelRx Pharmaceuticals (NASDAQ:ACRX) last issued its earnings results on Monday, November 5th. The specialty pharmaceutical company reported ($0.21) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.20) by ($0.01). The firm had revenue of $0.38 million during the quarter, compared to analysts’ expectations of $1.10 million. As a group, research analysts forecast that AcelRx Pharmaceuticals will post -0.85 EPS for the current fiscal year.
About AcelRx Pharmaceuticals
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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