Trade Report: The Roth Capital Analysts Give AcelRx Pharmaceuticals Inc. (ACRX) a $15.00 Price Target

The Roth Capital Analysts Give AcelRx Pharmaceuticals Inc. (ACRX) a $15.00 Price Target

AcelRx Pharmaceuticals Inc. (NASDAQ:ACRX) received a $15.00 price target from equities researchers at Roth Capital in a report issued on Wednesday. The brokerage presently has a “buy” rating on the specialty pharmaceutical company’s stock. Roth Capital’s price target would indicate a potential upside of 391.80% from the company’s current price.

A number of other analysts have also recently weighed in on the stock. Jefferies Group reissued a “buy” rating on shares of AcelRx Pharmaceuticals in a report on Wednesday, August 10th. HC Wainwright reaffirmed a “buy” rating on shares of AcelRx Pharmaceuticals in a report on Wednesday, November 2nd. Zacks Investment Research cut shares of AcelRx Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Tuesday, September 27th. RBC Capital Markets reaffirmed a “positive” rating and issued a $6.00 target price on shares of AcelRx Pharmaceuticals in a report on Tuesday, August 16th. Finally, Cowen and Company reaffirmed a “hold” rating on shares of AcelRx Pharmaceuticals in a report on Friday, July 29th. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $8.75.

AcelRx Pharmaceuticals (NASDAQ:ACRX) traded down 3.17% on Wednesday, reaching $3.05. 81,680 shares of the company’s stock traded hands. AcelRx Pharmaceuticals has a 12-month low of $2.40 and a 12-month high of $5.85. The stock’s market cap is $138.27 million. 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 posted its quarterly earnings data on Tuesday, November 1st. The specialty pharmaceutical company reported ($0.25) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.23) by $0.02. The company had revenue of $1.60 million for the quarter, compared to analyst estimates of $2.89 million. AcelRx Pharmaceuticals had a negative return on equity of 232.39% and a negative net margin of 347.94%. Analysts forecast that AcelRx Pharmaceuticals will post ($0.98) EPS for the current year.

In related news, major shareholder Perceptive Advisors Llc sold 216,500 shares of AcelRx Pharmaceuticals stock in a transaction on Thursday, September 29th. The shares were sold at an average price of $3.92, for a total value of $848,680.00. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 27.40% of the stock is currently owned by corporate insiders.

Institutional investors have recently bought and sold shares of the stock. State Street Corp raised its position 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 worth $1,142,000 after buying an additional 407,798 shares during the period. Advisor Group Inc. bought a new stake in shares of AcelRx Pharmaceuticals during the second quarter valued at approximately $355,000. Rhumbline Advisers bought a new stake in shares of AcelRx Pharmaceuticals during the second quarter valued at approximately $103,000. Teachers Advisors Inc. bought a new stake in shares of AcelRx Pharmaceuticals during the second quarter valued at approximately $157,000. Finally, BlackRock Institutional Trust Company N.A. raised its stake in shares of AcelRx Pharmaceuticals by 73.3% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 962,026 shares of the specialty pharmaceutical company’s stock valued at $2,588,000 after buying an additional 406,974 shares during the last quarter. Hedge funds and other institutional investors own 36.15% of the company’s stock.

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