AcelRx Pharmaceuticals Inc. (NASDAQ:ACRX) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Tuesday.
According to Zacks, “AcelRx Pharmaceuticals, Inc., is a specialty pharmaceutical company focused on the development and commercialization of therapies for the treatment of pain. The Company product candidates comprises: ARX-01 or the Sufentanil NanoTab PCA System; ARX-02 or the Sufentanil NanoTab BTP Management System; and ARX-03 or the Sufentanil/Triazolam NanoTab which are in their development stage. Its product ARX-01 is focused on acute post-operative pain, ARX-02 is focused on the treatment of cancer breakthrough pain and ARX-03 is focused on providing mild sedation, anxiety reduction, and pain relief to patients undergoing painful procedures in a physician’s office. AcelRx Pharmaceuticals, Inc. is headquartered in Redwood City, California. “
Several other equities analysts have also recently issued reports on ACRX. Jefferies Group reiterated a “buy” rating on shares of AcelRx Pharmaceuticals in a research report on Friday, June 10th. Cowen and Company reiterated a “hold” rating on shares of AcelRx Pharmaceuticals in a research report on Friday, July 29th. HC Wainwright reiterated a “buy” rating on shares of AcelRx Pharmaceuticals in a research report on Monday, August 1st. Stifel Nicolaus cut AcelRx Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Friday, August 5th. Finally, RBC Capital Markets reiterated a “positive” rating and set a $6.00 target price on shares of AcelRx Pharmaceuticals in a research report on Tuesday, August 16th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $8.20.
Shares of AcelRx Pharmaceuticals (NASDAQ:ACRX) traded up 6.35% during trading on Tuesday, reaching $3.85. The company had a trading volume of 501,830 shares. The firm’s market capitalization is $174.45 million. AcelRx Pharmaceuticals has a 12 month low of $2.40 and a 12 month high of $5.88. The firm’s 50 day moving average price is $3.41 and its 200 day moving average price is $3.28.
AcelRx Pharmaceuticals (NASDAQ:ACRX) last posted its quarterly earnings data on Thursday, July 28th. The specialty pharmaceutical company reported ($0.24) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.22) by $0.02. The company had revenue of $4.53 million for the quarter, compared to analysts’ expectations of $2.17 million. AcelRx Pharmaceuticals had a negative net margin of 111.47% and a negative return on equity of 94.98%. Equities analysts predict that AcelRx Pharmaceuticals will post ($0.91) EPS for the current year.
In related news, major shareholder Perceptive Advisors Llc sold 392,850 shares of the company’s stock in a transaction that occurred on Thursday, September 15th. The stock was sold at an average price of $3.70, for a total value of $1,453,545.00. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 27.40% of the stock is owned by corporate insiders.
Several large investors have recently added to or reduced their stakes in ACRX. State Street Corp boosted its stake in shares of 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 worth approximately $355,000. Rhumbline Advisers bought a new stake in shares of AcelRx Pharmaceuticals during the second quarter worth approximately $103,000. Teachers Advisors Inc. bought a new stake in shares of AcelRx Pharmaceuticals during the second quarter worth approximately $157,000. Finally, BlackRock Institutional Trust Company N.A. boosted 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 worth $2,588,000 after buying an additional 406,974 shares during the period. Institutional investors and hedge funds own 35.84% of the company’s stock.
AcelRx Pharmaceuticals Company Profile
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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