Trading Report: Today, Analysts gives Consensus Recommendation of “Buy” to AcelRx Pharmaceuticals Inc. (ACRX)

Today, Analysts gives Consensus Recommendation of “Buy” to AcelRx Pharmaceuticals Inc. (ACRX)

AcelRx Pharmaceuticals Inc. (NASDAQ:ACRX) has earned a consensus rating of “Buy” from the nine research firms that are covering the firm. Four analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $9.33.

A number of research analysts recently issued reports on the company. HC Wainwright restated a “buy” rating and set a $7.00 price target on shares of AcelRx Pharmaceuticals in a report on Wednesday, September 28th. Jefferies Group restated a “buy” rating and set a $7.00 price target on shares of AcelRx Pharmaceuticals in a report on Tuesday, October 4th. RBC Capital Markets restated a “positive” rating and set a $6.00 price target on shares of AcelRx Pharmaceuticals in a report on Tuesday, August 16th. Cowen and Company restated a “hold” rating on shares of AcelRx Pharmaceuticals in a report on Friday, July 29th. Finally, Zacks Investment Research downgraded AcelRx Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Tuesday, September 27th.

In other AcelRx Pharmaceuticals news, major shareholder Perceptive Advisors Llc sold 392,850 shares of AcelRx Pharmaceuticals stock in a transaction that occurred on Thursday, September 15th. The stock was sold at an average price of $3.70, for a total transaction of $1,453,545.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 27.40% of the company’s stock.

Hedge funds have recently bought and sold shares of the stock. Bridgeway Capital Management Inc. boosted its stake in AcelRx Pharmaceuticals by 26.1% in the second quarter. Bridgeway Capital Management Inc. now owns 281,650 shares of the specialty pharmaceutical company’s stock valued at $758,000 after buying an additional 58,250 shares during the last quarter. State Street Corp boosted its stake in AcelRx Pharmaceuticals by 2,427.4% in the second quarter. State Street Corp now owns 424,598 shares of the specialty pharmaceutical company’s stock valued at $1,142,000 after buying an additional 407,798 shares during the last quarter. Advisor Group Inc. purchased a new stake in AcelRx Pharmaceuticals during the second quarter valued at $355,000. Rhumbline Advisers purchased a new stake in AcelRx Pharmaceuticals during the second quarter valued at $103,000. Finally, Teachers Advisors Inc. purchased a new stake in AcelRx Pharmaceuticals during the second quarter valued at $157,000. 36.15% of the stock is currently owned by institutional investors and hedge funds.

Shares of AcelRx Pharmaceuticals (NASDAQ:ACRX) opened at 3.05 on Monday. The stock’s market capitalization is $138.27 million. AcelRx Pharmaceuticals has a 52 week low of $2.40 and a 52 week high of $5.85. The stock has a 50 day moving average price of $3.12 and a 200 day moving average price of $3.23.

AcelRx Pharmaceuticals (NASDAQ:ACRX) last announced its quarterly earnings results on Tuesday, November 1st. The specialty pharmaceutical company reported ($0.25) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.23) by $0.02. AcelRx Pharmaceuticals had a negative net margin of 347.94% and a negative return on equity of 232.39%. The business had revenue of $1.60 million for the quarter, compared to analysts’ expectations of $2.89 million. On average, equities research analysts expect that AcelRx Pharmaceuticals will post ($0.98) EPS for the current year.

Related posts

Leave a Comment