Palo Alto Investors LLC Has $2,220,000 Stake in AcelRx Pharmaceuticals, Inc. (ACRX)
Palo Alto Investors LLC held its position in shares of AcelRx Pharmaceuticals, Inc. (NASDAQ:ACRX) during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,032,715 shares of the specialty pharmaceutical company’s stock at the end of the second quarter. AcelRx Pharmaceuticals comprises approximately 0.1% of Palo Alto Investors LLC’s holdings, making the stock its 28th biggest position. Palo Alto Investors LLC owned about 2.28% of AcelRx Pharmaceuticals worth $2,220,000 as of its most recent SEC filing.
Several other large investors have also bought and sold shares of the business. Goldman Sachs Group Inc. acquired a new position in shares of AcelRx Pharmaceuticals in the second quarter worth $530,000. WealthTrust Axiom LLC grew its stake in shares of AcelRx Pharmaceuticals by 50.0% in the second quarter. WealthTrust Axiom LLC now owns 210,000 shares of the specialty pharmaceutical company’s stock worth $451,000 after acquiring an additional 70,000 shares in the last quarter. LMR Partners LLP acquired a new position in shares of AcelRx Pharmaceuticals in the second quarter worth $319,000. Virtu KCG Holdings LLC grew its stake in shares of AcelRx Pharmaceuticals by 600.9% in the second quarter. Virtu KCG Holdings LLC now owns 118,675 shares of the specialty pharmaceutical company’s stock worth $255,000 after acquiring an additional 101,742 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its stake in shares of AcelRx Pharmaceuticals by 6.6% in the first quarter. Bank of New York Mellon Corp now owns 112,682 shares of the specialty pharmaceutical company’s stock worth $355,000 after acquiring an additional 6,942 shares in the last quarter. Institutional investors and hedge funds own 23.32% of the company’s stock.
AcelRx Pharmaceuticals, Inc. (NASDAQ ACRX) traded down 2.39% during midday trading on Thursday, hitting $5.10. 875,962 shares of the stock traded hands. The company’s market cap is $231.44 million. AcelRx Pharmaceuticals, Inc. has a one year low of $1.95 and a one year high of $5.75. The company’s 50-day moving average is $3.50 and its 200-day moving average is $2.90.
AcelRx Pharmaceuticals (NASDAQ:ACRX) last released its quarterly earnings results on Tuesday, August 1st. The specialty pharmaceutical company reported ($0.29) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.28) by ($0.01). The company had revenue of $2.66 million for the quarter, compared to analyst estimates of $2.63 million. Equities research analysts expect that AcelRx Pharmaceuticals, Inc. will post ($1.13) EPS for the current fiscal year.
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Several equities analysts have commented on the stock. Cowen and Company restated a “hold” rating on shares of AcelRx Pharmaceuticals in a research note on Tuesday, August 1st. Royal Bank Of Canada set a $6.00 price target on shares of AcelRx Pharmaceuticals and gave the stock a “buy” rating in a research note on Friday, August 25th. Stifel Nicolaus upgraded shares of AcelRx Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Wednesday, August 9th. ValuEngine upgraded shares of AcelRx Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research note on Tuesday, September 26th. Finally, Piper Jaffray Companies set a $3.00 price objective on shares of AcelRx Pharmaceuticals and gave the stock a “hold” rating in a research report on Tuesday, July 25th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $8.75.
In other news, CEO Vincent J. Angotti purchased 15,000 shares of the stock in a transaction that occurred on Thursday, August 24th. The stock was acquired at an average cost of $3.00 per share, with a total value of $45,000.00. Following the acquisition, the chief executive officer now owns 15,000 shares in the company, valued at $45,000. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Lawrence G. Hamel sold 10,161 shares of the firm’s stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $5.29, for a total transaction of $53,751.69. Following the sale, the insider now directly owns 16,379 shares of the company’s stock, valued at $86,644.91. The disclosure for this sale can be found here. Over the last ninety days, insiders have purchased 37,000 shares of company stock valued at $112,280. Company insiders own 28.10% of the company’s stock.
About AcelRx Pharmaceuticals
AcelRx Pharmaceuticals, Inc is a pharmaceutical company focused on the development and commercialization of therapies for the treatment of moderate-to-severe acute pain. The Company operates through the segment, which includes development and commercialization of product candidates for the treatment of pain.
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