AcelRx Pharmaceuticals (NASDAQ:ACRX) had its price target lifted by equities researchers at HC Wainwright from $7.00 to $8.00 in a research report issued to clients and investors on Monday, The Fly reports. The firm currently has a “buy” rating on the specialty pharmaceutical company’s stock. HC Wainwright’s price target would suggest a potential upside of 98.02% from the stock’s current price.

A number of other research firms also recently issued reports on ACRX. Jefferies Financial Group raised AcelRx Pharmaceuticals from a “hold” rating to a “buy” rating and set a $8.00 target price for the company in a research report on Monday. Cantor Fitzgerald set a $8.00 target price on AcelRx Pharmaceuticals and gave the stock a “buy” rating in a research report on Monday. Oppenheimer reissued a “hold” rating on shares of AcelRx Pharmaceuticals in a research report on Monday. Zacks Investment Research downgraded AcelRx Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Tuesday, June 26th. Finally, LADENBURG THALM/SH SH reissued a “buy” rating and issued a $10.00 target price (up from $7.00) on shares of AcelRx Pharmaceuticals in a research report on Wednesday, October 10th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $7.50.

NASDAQ:ACRX traded up $0.06 during trading hours on Monday, reaching $4.04. The stock had a trading volume of 772,281 shares, compared to its average volume of 915,758. The company has a debt-to-equity ratio of -0.15, a current ratio of 4.01 and a quick ratio of 3.96. AcelRx Pharmaceuticals has a 12-month low of $1.55 and a 12-month high of $4.70. The company has a market capitalization of $233.31 million, a P/E ratio of -3.81 and a beta of 2.04.

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

In related news, insider Pamela P. Palmer purchased 37,000 shares of AcelRx Pharmaceuticals stock in a transaction dated 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 acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Lawrence G. Hamel sold 6,953 shares of AcelRx Pharmaceuticals stock in a transaction on Monday, September 24th. The shares were sold at an average price of $4.50, for a total value of $31,288.50. Following the completion of the transaction, the insider now owns 24,371 shares of the company’s stock, valued at $109,669.50. The disclosure for this sale can be found here. Over the last quarter, insiders bought 57,300 shares of company stock valued at $159,552. 25.50% of the stock is owned by company insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. BlackRock Inc. grew its position in shares of AcelRx Pharmaceuticals by 2.7% in the second quarter. BlackRock Inc. now owns 673,115 shares of the specialty pharmaceutical company’s stock valued at $2,271,000 after purchasing an additional 17,737 shares in the last quarter. Lincoln Capital Corp grew its position in shares of AcelRx Pharmaceuticals by 83.3% in the third quarter. Lincoln Capital Corp now owns 62,775 shares of the specialty pharmaceutical company’s stock valued at $242,000 after purchasing an additional 28,525 shares in the last quarter. Northern Trust Corp grew its position in shares of AcelRx Pharmaceuticals by 60.8% in the first quarter. Northern Trust Corp now owns 91,481 shares of the specialty pharmaceutical company’s stock valued at $192,000 after purchasing an additional 34,584 shares in the last quarter. GSA Capital Partners LLP purchased a new position in shares of AcelRx Pharmaceuticals in the first quarter valued at $113,000. Finally, Granite Investment Partners LLC purchased a new position in shares of AcelRx Pharmaceuticals in the second quarter valued at $182,000. Institutional investors own 8.57% of the company’s stock.

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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