AcelRx Pharmaceuticals (NASDAQ:ACRX) shares were up 8.6% during trading on Wednesday . The company traded as high as $3.15 and last traded at $3.15. Approximately 820,741 shares were traded during mid-day trading, an increase of 79% from the average daily volume of 457,370 shares. The stock had previously closed at $2.90.
A number of research analysts have recently commented on ACRX shares. Zacks Investment Research upgraded AcelRx Pharmaceuticals from a “hold” rating to a “buy” rating and set a $2.75 target price for the company in a research note on Tuesday, May 15th. ValuEngine upgraded AcelRx Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research note on Wednesday, May 2nd. One research analyst has rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $4.96.
The company has a market cap of $161.66 million, a P/E ratio of -2.93 and a beta of 2.38. The company has a debt-to-equity ratio of -0.20, a current ratio of 4.05 and a quick ratio of 4.00.
Hedge funds have recently bought and sold shares of the stock. Geller Family Office Services LLC increased its position in AcelRx Pharmaceuticals by 175.0% during the 4th quarter. Geller Family Office Services LLC now owns 275,000 shares of the specialty pharmaceutical company’s stock valued at $557,000 after buying an additional 175,000 shares in the last quarter. Virtu Financial LLC bought a new position in AcelRx Pharmaceuticals during the 4th quarter valued at approximately $120,000. Northern Trust Corp increased its position in AcelRx Pharmaceuticals by 60.8% during the 1st quarter. Northern Trust Corp now owns 91,481 shares of the specialty pharmaceutical company’s stock valued at $192,000 after buying an additional 34,584 shares in the last quarter. Finally, GSA Capital Partners LLP bought a new position in AcelRx Pharmaceuticals during the 1st quarter valued at approximately $113,000. 8.94% of the stock is owned by institutional investors.
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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