Wells Fargo & Company MN increased its stake in AcelRx Pharmaceuticals, Inc. (NASDAQ:ACRX) by 196.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 28,403 shares of the specialty pharmaceutical company’s stock after buying an additional 18,818 shares during the period. Wells Fargo & Company MN owned approximately 0.06% of AcelRx Pharmaceuticals worth $111,000 at the end of the most recent reporting period.
A number of other large investors also recently made changes to their positions in the company. Schwab Charles Investment Management Inc. bought a new stake in shares of AcelRx Pharmaceuticals during the second quarter valued at about $155,000. California State Teachers Retirement System acquired a new position in shares of AcelRx Pharmaceuticals during the second quarter worth about $200,000. Bank of New York Mellon Corp increased its position in shares of AcelRx Pharmaceuticals by 142.4% in the second quarter. Bank of New York Mellon Corp now owns 145,477 shares of the specialty pharmaceutical company’s stock worth $391,000 after buying an additional 85,459 shares during the period. Nippon Life Insurance Co. acquired a new position in shares of AcelRx Pharmaceuticals during the second quarter worth about $2,247,000. Finally, Bridgeway Capital Management Inc. increased its position in shares of 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 worth $758,000 after buying an additional 58,250 shares during the period. Institutional investors and hedge funds own 34.75% of the company’s stock.
Shares of AcelRx Pharmaceuticals, Inc. (NASDAQ:ACRX) remained flat at $2.60 during mid-day trading on Wednesday. The stock had a trading volume of 42,706 shares. The company’s market cap is $117.87 million. AcelRx Pharmaceuticals, Inc. has a 1-year low of $2.40 and a 1-year high of $4.50. The stock’s 50 day moving average is $2.78 and its 200 day moving average is $3.15.
AcelRx Pharmaceuticals (NASDAQ:ACRX) last announced its quarterly earnings data on Tuesday, November 1st. The specialty pharmaceutical company reported ($0.25) earnings per share (EPS) 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 analysts’ expectations of $2.89 million. AcelRx Pharmaceuticals had a negative net margin of 347.94% and a negative return on equity of 232.39%. On average, equities research analysts forecast that AcelRx Pharmaceuticals, Inc. will post ($0.98) earnings per share for the current fiscal year.
ACRX has been the subject of a number of recent analyst reports. Roth Capital set a $15.00 price objective on AcelRx Pharmaceuticals and gave the company a “buy” rating in a research note on Saturday, October 15th. Jefferies Group LLC restated a “buy” rating and issued a $7.00 price objective on shares of AcelRx Pharmaceuticals in a research note on Tuesday, October 4th. HC Wainwright restated a “buy” rating and issued a $7.00 price objective on shares of AcelRx Pharmaceuticals in a research note on Wednesday, September 28th. Cowen and Company restated a “hold” rating on shares of AcelRx Pharmaceuticals in a research note on Thursday, November 3rd. Finally, Zacks Investment Research upgraded AcelRx Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Wednesday, October 19th. One research analyst has rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $8.75.
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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