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.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Cedar Wealth Management LLC grew its position in AcelRx Pharmaceuticals by 182.5% in the third quarter. Cedar Wealth Management LLC now owns 33,895 shares of the specialty pharmaceutical company’s stock worth $130,000 after acquiring an additional 21,895 shares in the last quarter. Cornerstone Capital Inc. purchased a new position in AcelRx Pharmaceuticals in the third quarter worth about $154,000. Creative Planning grew its position in AcelRx Pharmaceuticals by 256.1% in the third quarter. Creative Planning now owns 45,222 shares of the specialty pharmaceutical company’s stock worth $174,000 after acquiring an additional 32,522 shares in the last quarter. Lincoln Capital Corp grew its position in AcelRx Pharmaceuticals by 83.3% in the third quarter. Lincoln Capital Corp now owns 62,775 shares of the specialty pharmaceutical company’s stock worth $242,000 after acquiring an additional 28,525 shares in the last quarter. Finally, Monashee Investment Management LLC purchased a new position in shares of AcelRx Pharmaceuticals during the third quarter valued at approximately $393,000. Institutional investors and hedge funds own 10.66% of the company’s stock.

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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Analyst Recommendations for AcelRx Pharmaceuticals (NASDAQ:ACRX)

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