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. “
ACRX has been the subject of several other research reports. Jefferies Group reaffirmed a buy rating on shares of AcelRx Pharmaceuticals in a research report on Friday, June 10th. Cowen and Company reaffirmed a hold rating on shares of AcelRx Pharmaceuticals in a research report on Friday, July 29th. HC Wainwright reaffirmed a buy rating on shares of AcelRx Pharmaceuticals in a research report on Monday, August 1st. Stifel Nicolaus downgraded AcelRx Pharmaceuticals from a buy rating to a hold rating in a research report on Friday, August 5th. Finally, RBC Capital Markets reaffirmed a positive rating and issued a $6.00 target price on shares of AcelRx Pharmaceuticals in a research report on Tuesday, August 16th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the stock. The stock presently has a consensus rating of Hold and a consensus price target of $8.20.
AcelRx Pharmaceuticals (NASDAQ:ACRX) last announced its quarterly earnings results 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 firm had revenue of $4.53 million for the quarter, compared to analyst estimates of $2.17 million. AcelRx Pharmaceuticals had a negative return on equity of 94.98% and a negative net margin of 111.47%.
In related news, major shareholder Perceptive Advisors Llc sold 392,850 shares of the stock in a transaction dated Thursday, September 15th. The stock was sold at an average price of $3.70, for a total value of $1,453,545.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 27.40% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Rhumbline Advisers purchased a new position in AcelRx Pharmaceuticals during the second quarter worth approximately $103,000. Schwab Charles Investment Management Inc. purchased a new position in AcelRx Pharmaceuticals during the second quarter worth approximately $155,000. Teachers Advisors Inc. purchased a new position in AcelRx Pharmaceuticals during the second quarter worth approximately $157,000. California State Teachers Retirement System purchased a new position in AcelRx Pharmaceuticals during the second quarter worth approximately $200,000. Finally, WealthTrust Axiom LLC increased its position in AcelRx Pharmaceuticals by 738.7% in the second quarter. WealthTrust Axiom LLC now owns 130,000 shares of the specialty pharmaceutical company’s stock worth $349,000 after buying an additional 114,500 shares in the last quarter. 35.84% of the stock is owned by hedge funds and other institutional investors.
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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