AcelRx Pharmaceuticals Inc (NASDAQ:ACRX) has been assigned an average rating of “Buy” from the seven brokerages that are currently covering the stock, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 1-year price target among brokers that have covered the stock in the last year is $9.80.
Several equities research analysts have recently weighed in on the company. Roth Capital set a $15.00 price objective on AcelRx Pharmaceuticals and gave the stock a “buy” rating in a research note on Monday, March 6th. Cowen and Company reissued a “hold” rating on shares of AcelRx Pharmaceuticals in a research note on Monday, March 6th. Royal Bank of Canada reissued an “outperform” rating and set a $6.00 price objective on shares of AcelRx Pharmaceuticals in a research note on Friday, March 3rd. Zacks Investment Research lowered AcelRx Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Thursday, May 11th. Finally, Stifel Nicolaus reduced their price objective on AcelRx Pharmaceuticals from $15.00 to $14.00 and set a “hold” rating for the company in a research note on Tuesday, March 14th.
Hedge funds have recently added to or reduced their stakes in the stock. State Street Corp raised its stake in AcelRx Pharmaceuticals by 2.4% in the fourth quarter. State Street Corp now owns 487,777 shares of the specialty pharmaceutical company’s stock worth $1,268,000 after buying an additional 11,639 shares during the last quarter. Oxford Asset Management raised its stake in shares of AcelRx Pharmaceuticals by 48.7% in the fourth quarter. Oxford Asset Management now owns 103,420 shares of the specialty pharmaceutical company’s stock valued at $269,000 after buying an additional 33,866 shares in the last quarter. Perceptive Advisors LLC purchased a new stake in shares of AcelRx Pharmaceuticals during the fourth quarter valued at about $14,063,000. Teachers Advisors LLC raised its stake in shares of AcelRx Pharmaceuticals by 14.6% in the fourth quarter. Teachers Advisors LLC now owns 66,715 shares of the specialty pharmaceutical company’s stock valued at $173,000 after buying an additional 8,475 shares in the last quarter. Finally, Acadian Asset Management LLC raised its stake in shares of AcelRx Pharmaceuticals by 326.1% in the first quarter. Acadian Asset Management LLC now owns 41,927 shares of the specialty pharmaceutical company’s stock valued at $132,000 after buying an additional 32,087 shares in the last quarter. Institutional investors own 30.28% of the company’s stock.
AcelRx Pharmaceuticals (NASDAQ ACRX) traded up 4.35% during trading on Tuesday, hitting $2.40. The stock had a trading volume of 297,061 shares. AcelRx Pharmaceuticals has a 1-year low of $1.95 and a 1-year high of $4.08. The stock’s market cap is $108.91 million. The firm’s 50-day moving average price is $2.52 and its 200-day moving average price is $2.80.
AcelRx Pharmaceuticals (NASDAQ:ACRX) last released its quarterly earnings data on Monday, May 8th. The specialty pharmaceutical company reported ($0.34) earnings per share for the quarter, missing the consensus estimate of ($0.28) by $0.06. The firm had revenue of $3.11 million during the quarter, compared to analyst estimates of $2.36 million. On average, equities research analysts predict that AcelRx Pharmaceuticals will post ($1.10) earnings per share for the current fiscal year.
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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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