AcelRx Pharmaceuticals (ACRX) Downgraded to Hold at Zacks Investment Research

Zacks Investment Research downgraded shares of AcelRx Pharmaceuticals (NASDAQ:ACRX) from a buy rating to a hold rating in a research note published on Monday morning.

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 brokerages have also recently issued reports on ACRX. ValuEngine cut AcelRx Pharmaceuticals from a sell rating to a strong sell rating in a report on Thursday, October 12th. HC Wainwright reissued a buy rating and set a $10.00 price objective on shares of AcelRx Pharmaceuticals in a report on Tuesday, October 3rd. Piper Jaffray Companies reissued a hold rating and set a $2.00 price objective on shares of AcelRx Pharmaceuticals in a report on Friday, October 13th. Roth Capital set a $8.00 price objective on AcelRx Pharmaceuticals and gave the company a buy rating in a report on Thursday, October 12th. Finally, Jefferies Group cut AcelRx Pharmaceuticals from a buy rating to a hold rating in a report on Friday, October 13th. One analyst has rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the company. The stock presently has an average rating of Hold and a consensus price target of $6.21.

Shares of AcelRx Pharmaceuticals (ACRX) remained flat at $$2.15 during midday trading on Monday. 270,800 shares of the company’s stock traded hands, compared to its average volume of 443,856. The company has a market capitalization of $103.19, a P/E ratio of -1.92 and a beta of 2.96. AcelRx Pharmaceuticals has a 12 month low of $1.55 and a 12 month high of $5.75. The company has a quick ratio of 4.71, a current ratio of 4.78 and a debt-to-equity ratio of -0.43.

AcelRx Pharmaceuticals (NASDAQ:ACRX) last issued its quarterly earnings data on Thursday, November 9th. The specialty pharmaceutical company reported ($0.28) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.26) by ($0.02). analysts predict that AcelRx Pharmaceuticals will post -1.06 earnings per share for the current fiscal year.

In other AcelRx Pharmaceuticals news, Director Mark G. Edwards purchased 30,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 14th. The stock was acquired at an average cost of $1.90 per share, with a total value of $57,000.00. Following the completion of the acquisition, the director now directly owns 150,000 shares of the company’s stock, valued at approximately $285,000. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 28.10% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in the stock. Geller Family Office Services LLC bought a new position in shares of AcelRx Pharmaceuticals in the third quarter valued at about $460,000. Perennial Advisors LLC acquired a new stake in AcelRx Pharmaceuticals in the third quarter worth about $138,000. Goldman Sachs Group Inc. acquired a new stake in AcelRx Pharmaceuticals in the second quarter worth about $530,000. Finally, Virtu KCG Holdings LLC increased its position in AcelRx Pharmaceuticals by 600.9% in the second quarter. Virtu KCG Holdings LLC now owns 118,675 shares of the specialty pharmaceutical company’s stock worth $255,000 after purchasing an additional 101,742 shares during the period. 13.70% of the stock is 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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