Zacks Investment Research upgraded shares of AcelRx Pharmaceuticals (NASDAQ:ACRX) from a sell rating to a buy rating in a research report released on Wednesday morning, Zacks.com reports. Zacks Investment Research currently has $1.25 target price on the specialty pharmaceutical company’s stock.

According to Zacks, “AcelRx Pharmaceuticals, Inc., is a specialty pharmaceutical company focused on the development and commercialization of therapies for the treatment of pain. The Company product candidates comprises: ARX-01 or the Sufentanil NanoTab PCA System; ARX-02 or the Sufentanil NanoTab BTP Management System; and ARX-03 or the Sufentanil/Triazolam NanoTab which are in their development stage. Its product ARX-01 is focused on acute post-operative pain, ARX-02 is focused on the treatment of cancer breakthrough pain and ARX-03 is focused on providing mild sedation, anxiety reduction, and pain relief to patients undergoing painful procedures in a physician’s office. AcelRx Pharmaceuticals, Inc. is headquartered in Redwood City, California. “

Several other equities research analysts have also recently issued reports on ACRX. LADENBURG THALM/SH SH restated a buy rating and issued a $8.00 target price on shares of AcelRx Pharmaceuticals in a report on Tuesday, May 12th. Credit Suisse Group cut shares of AcelRx Pharmaceuticals from a neutral rating to an underperform rating and dropped their target price for the stock from $1.00 to $0.69 in a report on Monday, July 20th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company’s stock. The company currently has an average rating of Hold and a consensus price target of $4.24.

NASDAQ:ACRX opened at $1.09 on Wednesday. The firm’s 50 day moving average is $1.20 and its 200 day moving average is $1.39. AcelRx Pharmaceuticals has a 12 month low of $0.70 and a 12 month high of $2.80. The stock has a market capitalization of $88.03 million, a PE ratio of -1.56 and a beta of 1.81.

AcelRx Pharmaceuticals (NASDAQ:ACRX) last issued its earnings results on Monday, May 11th. The specialty pharmaceutical company reported ($0.20) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.03). The business had revenue of $0.39 million for the quarter, compared to analyst estimates of $2.65 million. As a group, sell-side analysts anticipate that AcelRx Pharmaceuticals will post -0.52 EPS for the current year.

In other news, Director Adrian Adams purchased 100,000 shares of the company’s stock in a transaction that occurred on Monday, June 15th. The stock was purchased at an average cost of $1.33 per share, with a total value of $133,000.00. 7.50% of the stock is currently owned by insiders.

Hedge funds have recently added to or reduced their stakes in the stock. Meeder Asset Management Inc. increased its stake in AcelRx Pharmaceuticals by 607.3% during the 1st quarter. Meeder Asset Management Inc. now owns 21,112 shares of the specialty pharmaceutical company’s stock valued at $25,000 after purchasing an additional 18,127 shares in the last quarter. SG Americas Securities LLC acquired a new stake in AcelRx Pharmaceuticals during the first quarter worth about $25,000. Citigroup Inc. increased its position in AcelRx Pharmaceuticals by 44.7% during the first quarter. Citigroup Inc. now owns 22,749 shares of the specialty pharmaceutical company’s stock worth $27,000 after purchasing an additional 7,025 shares during the last quarter. BNP Paribas Arbitrage SA increased its position in AcelRx Pharmaceuticals by 49.8% during the first quarter. BNP Paribas Arbitrage SA now owns 24,161 shares of the specialty pharmaceutical company’s stock worth $29,000 after purchasing an additional 8,035 shares during the last quarter. Finally, Edmonds Duncan Registered Investment Advisors LLC acquired a new stake in AcelRx Pharmaceuticals during the second quarter worth about $31,000. 23.11% of the stock is owned by hedge funds and other 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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