AcelRx Pharmaceuticals (ACRX) Stock Price Up -2.4%

AcelRx Pharmaceuticals Inc (NASDAQ:ACRX)’s share price rose 2.4% during mid-day trading on Friday . The stock traded as high as $2.20 and last traded at $2.05. Approximately 327,600 shares traded hands during mid-day trading, a decline of 25% from the average daily volume of 435,133 shares. The stock had previously closed at $2.10.

ACRX has been the topic of several recent research reports. ValuEngine cut shares of AcelRx Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research note on Friday, September 15th. HC Wainwright reissued a “buy” rating and issued a $10.00 price objective on shares of AcelRx Pharmaceuticals in a research note on Tuesday, October 3rd. Piper Jaffray Companies reissued a “hold” rating and issued a $2.00 price objective on shares of AcelRx Pharmaceuticals in a research note on Friday, October 13th. Zacks Investment Research raised shares of AcelRx Pharmaceuticals from a “hold” rating to a “buy” rating and set a $2.25 price target on the stock in a research note on Wednesday, December 27th. Finally, Roth Capital set a $8.00 price target on shares of AcelRx Pharmaceuticals and gave the stock a “buy” rating in a research note on Thursday, October 12th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $6.18.

The company has a quick ratio of 4.71, a current ratio of 4.78 and a debt-to-equity ratio of -0.43.

In related news, Director Mark G. Edwards purchased 30,000 shares of the stock in a transaction dated Tuesday, November 14th. The shares were acquired at an average cost of $1.90 per share, with a total value of $57,000.00. Following the purchase, the director now directly owns 150,000 shares in the company, valued at approximately $285,000. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 28.10% of the company’s stock.

Several large investors have recently bought and sold shares of the company. Geller Family Office Services LLC acquired a new position in shares of AcelRx Pharmaceuticals during the 3rd quarter worth $460,000. Perennial Advisors LLC purchased a new stake in shares of AcelRx Pharmaceuticals in the 3rd quarter worth about $138,000. Goldman Sachs Group Inc. purchased a new stake in shares of AcelRx Pharmaceuticals in the 2nd quarter worth about $530,000. Finally, Virtu KCG Holdings LLC boosted its position in shares of AcelRx Pharmaceuticals by 600.9% in the 2nd quarter. Virtu KCG Holdings LLC now owns 118,675 shares of the specialty pharmaceutical company’s stock worth $255,000 after buying an additional 101,742 shares in the last quarter. 13.70% of the stock is currently owned by institutional investors and hedge funds.

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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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