Cantor Fitzgerald set a $8.00 target price on AcelRx Pharmaceuticals (NASDAQ:ACRX) in a report published on Thursday morning. The firm currently has a buy rating on the specialty pharmaceutical company’s stock.
Other research analysts have also recently issued reports about the stock. Zacks Investment Research upgraded shares of AcelRx Pharmaceuticals from a hold rating to a buy rating and set a $3.50 price target on the stock in a report on Thursday, August 9th. HC Wainwright reiterated a buy rating on shares of AcelRx Pharmaceuticals in a report on Tuesday, August 7th. Jefferies Financial Group upgraded shares of AcelRx Pharmaceuticals from a hold rating to a buy rating and set a $8.00 target price on the stock in a report on Monday, October 15th. LADENBURG THALM/SH SH reiterated a buy rating and set a $10.00 target price (up from $7.00) on shares of AcelRx Pharmaceuticals in a report on Wednesday, October 10th. Finally, Royal Bank of Canada set a $7.00 target price on shares of AcelRx Pharmaceuticals and gave the stock a buy rating in a report on Monday, October 22nd. One analyst has rated the stock with a sell rating, one has given a hold rating and seven have issued a buy rating to the company. The company currently has a consensus rating of Buy and an average price target of $7.64.
NASDAQ ACRX opened at $4.01 on Thursday. AcelRx Pharmaceuticals has a 12 month low of $1.65 and a 12 month high of $5.03.
In other AcelRx Pharmaceuticals news, insider Pamela P. Palmer bought 37,000 shares of the company’s stock in a transaction on Monday, August 6th. The shares were bought at an average cost of $2.75 per share, for a total transaction of $101,750.00. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Vincent J. Angotti bought 10,000 shares of the company’s stock in a transaction on Tuesday, August 7th. The shares were acquired at an average price of $2.90 per share, for a total transaction of $29,000.00. The disclosure for this purchase can be found here. Over the last quarter, insiders have acquired 57,300 shares of company stock worth $159,552. 25.50% of the stock is owned by company insiders.
A number of institutional investors have recently modified their holdings of ACRX. Northern Trust Corp grew its holdings 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 worth $192,000 after acquiring an additional 34,584 shares in the last quarter. GSA Capital Partners LLP bought a new stake in shares of AcelRx Pharmaceuticals in the 1st quarter valued at about $113,000. Lincoln Capital Corp bought a new stake in shares of AcelRx Pharmaceuticals in the 2nd quarter valued at about $116,000. Granite Investment Partners LLC bought a new stake in shares of AcelRx Pharmaceuticals in the 2nd quarter valued at about $182,000. Finally, BlackRock Inc. boosted its holdings in shares of AcelRx Pharmaceuticals by 2.7% in the 2nd quarter. BlackRock Inc. now owns 673,115 shares of the specialty pharmaceutical company’s stock valued at $2,271,000 after buying an additional 17,737 shares in the last quarter. Institutional investors own 8.58% of the company’s stock.
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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