AcelRx Pharmaceuticals (NASDAQ:ACRX) Earns Buy Rating from Cantor Fitzgerald
Cantor Fitzgerald reissued their buy rating on shares of AcelRx Pharmaceuticals (NASDAQ:ACRX) in a research note issued to investors on Thursday, September 20th. The firm currently has a $6.00 price objective on the specialty pharmaceutical company’s stock.
“Zalviso offer advantages to the patient, physician/nurse and the treatment facility, that if approved and priced accordingly, we believe will drive uptake of both products beyond the Street’s current estimates which should drive the stock higher. Valuation Summary We use a blend of DCF and multiples (EV/EBITDA) analysis to get to our 12-month price target of $6.”,” the firm’s analyst wrote.
Other analysts have also recently issued reports about the company. LADENBURG THALM/SH SH began coverage on AcelRx Pharmaceuticals in a report on Thursday, August 16th. They issued a buy rating and a $7.00 target price on the stock. ValuEngine upgraded AcelRx Pharmaceuticals from a sell rating to a hold rating in a report on Friday, June 1st. Oppenheimer restated a hold rating on shares of AcelRx Pharmaceuticals in a report on Friday, August 3rd. Zacks Investment Research upgraded 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. Finally, HC Wainwright restated a buy rating on shares of AcelRx Pharmaceuticals in a report on Tuesday, August 7th. Five research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and an average price target of $5.25.
AcelRx Pharmaceuticals (NASDAQ:ACRX) last announced its earnings results on Thursday, August 2nd. The specialty pharmaceutical company reported ($0.20) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.19) by ($0.01). The company had revenue of $0.82 million during the quarter, compared to analyst estimates of $0.93 million. Sell-side analysts predict that AcelRx Pharmaceuticals will post -0.83 earnings per share for the current year.
In other news, CEO Vincent J. Angotti bought 10,000 shares of the stock in a transaction dated Tuesday, August 7th. The shares were bought at an average cost of $2.90 per share, with a total value of $29,000.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Lawrence G. Hamel sold 6,953 shares of the company’s stock in a transaction that occurred on Monday, September 24th. The stock was sold at an average price of $4.50, for a total value of $31,288.50. Following the transaction, the insider now directly owns 24,371 shares in the company, valued at $109,669.50. The disclosure for this sale can be found here. Insiders have acquired a total of 57,300 shares of company stock worth $159,552 over the last 90 days. Company insiders own 25.50% of the company’s stock.
Several large investors have recently modified their holdings of ACRX. Renaissance Technologies LLC acquired a new position in shares of AcelRx Pharmaceuticals during the second quarter worth approximately $1,676,000. FMR LLC raised its position in shares of AcelRx Pharmaceuticals by 1,094.6% during the second quarter. FMR LLC now owns 298,644 shares of the specialty pharmaceutical company’s stock worth $1,008,000 after purchasing an additional 273,644 shares during the period. Granite Investment Partners LLC acquired a new position in shares of AcelRx Pharmaceuticals during the second quarter worth approximately $182,000. GSA Capital Partners LLP acquired a new position in shares of AcelRx Pharmaceuticals during the first quarter worth approximately $113,000. Finally, Northern Trust Corp raised its position in shares of AcelRx Pharmaceuticals by 60.8% during the first quarter. Northern Trust Corp now owns 91,481 shares of the specialty pharmaceutical company’s stock worth $192,000 after purchasing an additional 34,584 shares during the period. 8.57% of the stock is currently owned by institutional investors.
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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