AcelRx Pharmaceuticals (ACRX) Upgraded to “Buy” at Zacks Investment Research

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Zacks Investment Research upgraded shares of AcelRx Pharmaceuticals (NASDAQ:ACRX) from a hold rating to a buy rating in a research note published on Thursday, Zacks.com reports. The brokerage currently has $3.25 target price on the specialty pharmaceutical company’s stock.

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. “

A number of other equities research analysts have also issued reports on ACRX. Cantor Fitzgerald set a $9.00 price objective on shares of AcelRx Pharmaceuticals and gave the company a buy rating in a report on Tuesday, January 29th. Credit Suisse Group began coverage on shares of AcelRx Pharmaceuticals in a research report on Friday, February 15th. They issued an outperform rating and a $7.00 target price on the stock. LADENBURG THALM/SH SH set a $10.00 target price on shares of AcelRx Pharmaceuticals and gave the company a buy rating in a research report on Friday, March 8th. BidaskClub raised shares of AcelRx Pharmaceuticals from a hold rating to a buy rating in a research report on Monday, April 1st. Finally, B. Riley began coverage on shares of AcelRx Pharmaceuticals in a research report on Wednesday, April 24th. They issued a buy rating and a $6.50 target price on the stock. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The stock presently has a consensus rating of Buy and a consensus price target of $7.47.

Shares of ACRX opened at $2.74 on Thursday. The company has a quick ratio of 4.91, a current ratio of 5.03 and a debt-to-equity ratio of 0.79. AcelRx Pharmaceuticals has a 12-month low of $1.99 and a 12-month high of $5.05. The stock has a market capitalization of $216.22 million, a P/E ratio of -3.38 and a beta of 2.16.

AcelRx Pharmaceuticals (NASDAQ:ACRX) last announced its quarterly earnings data on Wednesday, May 8th. The specialty pharmaceutical company reported ($0.17) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.23) by $0.06. The firm had revenue of $0.27 million during the quarter, compared to analysts’ expectations of $0.85 million. Equities research analysts anticipate that AcelRx Pharmaceuticals will post -0.84 EPS for the current year.

In other AcelRx Pharmaceuticals news, Director Mark G. Edwards purchased 19,000 shares of AcelRx Pharmaceuticals stock in a transaction dated Tuesday, March 12th. The shares were acquired at an average price of $2.99 per share, with a total value of $56,810.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders have bought 26,721 shares of company stock worth $78,506 in the last three months. Corporate insiders own 7.50% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of the company. Weiss Asset Management LP acquired a new stake in shares of AcelRx Pharmaceuticals during the first quarter worth about $113,000. Jane Street Group LLC acquired a new stake in shares of AcelRx Pharmaceuticals during the first quarter worth about $91,000. BlueCrest Capital Management Ltd raised its holdings in AcelRx Pharmaceuticals by 38.0% in the first quarter. BlueCrest Capital Management Ltd now owns 83,680 shares of the specialty pharmaceutical company’s stock valued at $291,000 after acquiring an additional 23,045 shares in the last quarter. ExodusPoint Capital Management LP raised its holdings in AcelRx Pharmaceuticals by 140.0% in the first quarter. ExodusPoint Capital Management LP now owns 151,904 shares of the specialty pharmaceutical company’s stock valued at $529,000 after acquiring an additional 88,604 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in AcelRx Pharmaceuticals by 93.5% in the first quarter. Charles Schwab Investment Management Inc. now owns 28,438 shares of the specialty pharmaceutical company’s stock valued at $99,000 after acquiring an additional 13,738 shares in the last quarter. 15.69% of the stock is currently owned by institutional investors and hedge funds.

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.

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