AcelRx Pharmaceuticals Inc (NASDAQ:ACRX) shares saw an uptick in trading volume on Monday after Cantor Fitzgerald raised their price target on the stock from $8.00 to $9.00. Cantor Fitzgerald currently has an overweight rating on the stock. 9,511,175 shares were traded during mid-day trading, an increase of 39% from the previous session’s volume of 6,833,616 shares.The stock last traded at $4.38 and had previously closed at $4.80.
A number of other equities research analysts also recently commented on ACRX. ValuEngine upgraded shares of AcelRx Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Friday, November 2nd. LADENBURG THALM/SH SH set a $10.00 price target on shares of AcelRx Pharmaceuticals and gave the company a “buy” rating in a research report on Friday, November 2nd. Oppenheimer reiterated a “hold” rating on shares of AcelRx Pharmaceuticals in a research report on Friday, August 3rd. Zacks Investment Research upgraded shares of AcelRx Pharmaceuticals from a “hold” rating to a “buy” rating and set a $4.00 price target for the company in a research report on Tuesday, July 10th. Finally, HC Wainwright reiterated a “buy” rating on shares of AcelRx Pharmaceuticals in a research report on Tuesday, August 7th. One analyst has rated the stock with a sell rating, one has given a hold rating and seven have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $7.93.
In other news, insider Badri N. Dasu sold 28,351 shares of the business’s stock in a transaction on Monday, October 15th. The shares were sold at an average price of $5.00, for a total transaction of $141,755.00. Following the completion of the sale, the insider now directly owns 54,061 shares of the company’s stock, valued at approximately $270,305. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Lawrence G. Hamel sold 6,953 shares of the company’s stock in a transaction on Monday, September 24th. The stock was sold at an average price of $4.50, for a total transaction of $31,288.50. Following the sale, the insider now directly owns 24,371 shares of the company’s stock, valued at $109,669.50. The disclosure for this sale can be found here. 25.50% of the stock is owned by insiders.
The stock has a market cap of $290.88 million, a price-to-earnings ratio of -3.55 and a beta of 2.03.
AcelRx Pharmaceuticals (NASDAQ:ACRX) last announced its quarterly earnings data on Monday, November 5th. The specialty pharmaceutical company reported ($0.21) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.01). The company had revenue of $0.38 million for the quarter, compared to analyst estimates of $1.10 million. Equities analysts predict that AcelRx Pharmaceuticals Inc will post -0.82 EPS for the current year.
About AcelRx Pharmaceuticals (NASDAQ:ACRX)
AcelRx Pharmaceuticals, Inc, a specialty pharmaceutical company, focuses on the development and commercialization of therapies for the treatment of acute pain. Its lead product candidate is DSUVIA, a 30 mcg sufentanil sublingual tablet for the treatment of moderate-to-severe acute pain. The company also develops ZALVISO, a pre-programmed and patient-controlled analgesia system that allows hospital patients with moderate-to-severe acute pain to self-dose with sufentanil sublingual tablets to manage their pain.
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