AcelRx Pharmaceuticals Inc (ACRX) Director Buys $56,810.00 in Stock

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AcelRx Pharmaceuticals Inc (NASDAQ:ACRX) Director Mark G. Edwards purchased 19,000 shares of the stock in a transaction on Tuesday, March 12th. The shares were bought at an average price of $2.99 per share, for a total transaction of $56,810.00. The purchase was disclosed in a document filed with the SEC, which is accessible through this link.

Shares of AcelRx Pharmaceuticals stock traded up $0.09 during midday trading on Friday, hitting $3.12. The company had a trading volume of 737,224 shares, compared to its average volume of 2,349,850. The company has a market cap of $187.58 million, a price-to-earnings ratio of -3.85 and a beta of 2.15. The company has a current ratio of 6.78, a quick ratio of 6.73 and a debt-to-equity ratio of 0.79. AcelRx Pharmaceuticals Inc has a 1-year low of $1.99 and a 1-year high of $5.05.

AcelRx Pharmaceuticals (NASDAQ:ACRX) last issued its earnings results on Thursday, March 7th. The specialty pharmaceutical company reported ($0.18) EPS for the quarter, topping the consensus estimate of ($0.20) by $0.02. The firm had revenue of $0.61 million during the quarter, compared to the consensus estimate of $3.10 million. As a group, research analysts forecast that AcelRx Pharmaceuticals Inc will post -0.91 earnings per share for the current fiscal year.

Several equities analysts have commented on ACRX shares. Cantor Fitzgerald set a $9.00 price target on AcelRx Pharmaceuticals and gave the company a “buy” rating in a report on Tuesday, January 29th. Zacks Investment Research upgraded shares of AcelRx Pharmaceuticals from a “hold” rating to a “buy” rating and set a $3.25 price objective on the stock in a research note on Tuesday, January 8th. Credit Suisse Group started coverage on shares of AcelRx Pharmaceuticals in a research note on Friday, February 15th. They issued an “outperform” rating and a $7.00 price objective on the stock. Oppenheimer restated a “hold” rating on shares of AcelRx Pharmaceuticals in a research note on Tuesday, December 11th. Finally, LADENBURG THALM/SH SH set a $10.00 price objective on shares of AcelRx Pharmaceuticals and gave the stock a “buy” rating in a research note on Friday, March 8th. One analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. AcelRx Pharmaceuticals currently has an average rating of “Buy” and an average price target of $7.78.

A number of hedge funds have recently modified their holdings of ACRX. Monashee Investment Management LLC lifted its position in AcelRx Pharmaceuticals by 1,516.8% in the fourth quarter. Monashee Investment Management LLC now owns 1,652,190 shares of the specialty pharmaceutical company’s stock worth $3,817,000 after purchasing an additional 1,550,000 shares during the period. BlackRock Inc. lifted its position in AcelRx Pharmaceuticals by 196.6% in the fourth quarter. BlackRock Inc. now owns 2,331,736 shares of the specialty pharmaceutical company’s stock worth $5,386,000 after purchasing an additional 1,545,702 shares during the period. Two Sigma Investments LP lifted its position in AcelRx Pharmaceuticals by 820.9% in the fourth quarter. Two Sigma Investments LP now owns 559,408 shares of the specialty pharmaceutical company’s stock worth $1,292,000 after purchasing an additional 498,664 shares during the period. Fosun International Ltd bought a new position in AcelRx Pharmaceuticals in the third quarter worth $1,940,000. Finally, Vanguard Group Inc lifted its position in AcelRx Pharmaceuticals by 26.3% in the third quarter. Vanguard Group Inc now owns 2,085,556 shares of the specialty pharmaceutical company’s stock worth $8,030,000 after purchasing an additional 433,969 shares during the period. 23.34% of the stock is owned by hedge funds and other institutional investors.

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About AcelRx Pharmaceuticals

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.

See Also: Liquidity

Insider Buying and Selling by Quarter for AcelRx Pharmaceuticals (NASDAQ:ACRX)

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