Insider Buying: AcelRx Pharmaceuticals Inc (NASDAQ:ACRX) CEO Purchases 8,379 Shares of Stock

AcelRx Pharmaceuticals Inc (NASDAQ:ACRX) CEO Vincent J. Angotti bought 8,379 shares of the stock in a transaction that occurred on Monday, November 11th. The shares were purchased at an average cost of $1.79 per share, with a total value of $14,998.41. Following the purchase, the chief executive officer now directly owns 275,944 shares of the company’s stock, valued at $493,939.76. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

ACRX traded down $0.16 during midday trading on Tuesday, hitting $1.78. The company had a trading volume of 2,391,700 shares, compared to its average volume of 844,080. The company has a market capitalization of $154.37 million, a price-to-earnings ratio of -2.20 and a beta of 2.06. The stock’s 50 day moving average price is $2.16 and its 200 day moving average price is $2.52. AcelRx Pharmaceuticals Inc has a 52 week low of $1.74 and a 52 week high of $4.09.

AcelRx Pharmaceuticals (NASDAQ:ACRX) last announced its quarterly earnings results on Wednesday, November 6th. The specialty pharmaceutical company reported ($0.16) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.23) by $0.07. The business had revenue of $0.61 million for the quarter, compared to analysts’ expectations of $1.22 million. Sell-side analysts forecast that AcelRx Pharmaceuticals Inc will post -0.72 EPS for the current fiscal year.

A number of equities analysts recently weighed in on ACRX shares. HC Wainwright reissued a “buy” rating and set a $9.00 target price on shares of AcelRx Pharmaceuticals in a research note on Friday. Credit Suisse Group downgraded shares of AcelRx Pharmaceuticals from an “outperform” rating to a “neutral” rating and decreased their price target for the company from $7.00 to $2.00 in a research note on Monday. Finally, Zacks Investment Research raised shares of AcelRx Pharmaceuticals from a “hold” rating to a “strong-buy” rating and set a $2.25 price target for the company in a research note on Monday. Four equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $6.46.

Hedge funds have recently made changes to their positions in the stock. Parametric Portfolio Associates LLC purchased a new stake in shares of AcelRx Pharmaceuticals during the 2nd quarter valued at approximately $26,000. WINTON GROUP Ltd purchased a new stake in shares of AcelRx Pharmaceuticals during the 2nd quarter valued at approximately $40,000. Cubist Systematic Strategies LLC purchased a new stake in shares of AcelRx Pharmaceuticals during the 2nd quarter valued at approximately $95,000. STA Wealth Management LLC purchased a new stake in shares of AcelRx Pharmaceuticals during the 2nd quarter valued at approximately $159,000. Finally, Lincoln Capital Corp lifted its stake in shares of AcelRx Pharmaceuticals by 8.1% during the 2nd quarter. Lincoln Capital Corp now owns 67,000 shares of the specialty pharmaceutical company’s stock valued at $170,000 after buying an additional 5,000 shares in the last quarter. Institutional investors own 21.37% of the company’s stock.

AcelRx Pharmaceuticals Company Profile

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

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