AcelRx Pharmaceuticals Inc (NASDAQ:ACRX) was the target of a significant decline in short interest in the month of November. As of November 29th, there was short interest totalling 12,730,000 shares, a decline of 9.7% from the November 14th total of 14,100,000 shares. Based on an average daily volume of 868,900 shares, the short-interest ratio is currently 14.7 days. Approximately 18.1% of the shares of the company are short sold.
Shares of ACRX stock opened at $2.31 on Friday. The stock’s fifty day simple moving average is $1.91 and its 200 day simple moving average is $2.28. AcelRx Pharmaceuticals has a one year low of $1.64 and a one year high of $4.09.
AcelRx Pharmaceuticals (NASDAQ:ACRX) last posted its quarterly earnings data on Wednesday, November 6th. The specialty pharmaceutical company reported ($0.16) EPS for the quarter, topping analysts’ consensus estimates of ($0.23) by $0.07. The business had revenue of $0.61 million during the quarter, compared to analyst estimates of $1.22 million. Research analysts expect that AcelRx Pharmaceuticals will post -0.7 earnings per share for the current fiscal year.
A number of institutional investors have recently bought and sold shares of the business. State Street Corp boosted its stake in AcelRx Pharmaceuticals by 10.4% in the third quarter. State Street Corp now owns 1,403,576 shares of the specialty pharmaceutical company’s stock worth $3,088,000 after purchasing an additional 132,409 shares in the last quarter. Rhumbline Advisers boosted its stake in AcelRx Pharmaceuticals by 9.1% in the third quarter. Rhumbline Advisers now owns 109,675 shares of the specialty pharmaceutical company’s stock worth $241,000 after purchasing an additional 9,174 shares in the last quarter. Royal Bank of Canada boosted its stake in AcelRx Pharmaceuticals by 14.6% in the second quarter. Royal Bank of Canada now owns 92,441 shares of the specialty pharmaceutical company’s stock worth $234,000 after purchasing an additional 11,811 shares in the last quarter. Walleye Trading Advisors LLC acquired a new position in AcelRx Pharmaceuticals in the second quarter worth $231,000. Finally, Walleye Trading LLC acquired a new position in AcelRx Pharmaceuticals in the second quarter worth $244,000. 23.19% of the stock is currently owned by institutional investors.
Several analysts recently commented on the company. Zacks Investment Research raised AcelRx Pharmaceuticals from a “hold” rating to a “strong-buy” rating and set a $2.25 price target on the stock in a research note on Monday, November 11th. HC Wainwright reaffirmed a “buy” rating and issued a $9.00 price target on shares of AcelRx Pharmaceuticals in a research note on Friday, November 8th. Finally, Credit Suisse Group lowered 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, November 11th. Three research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $6.46.
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.
See Also: Return on Investment (ROI)
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