AcelRx Pharmaceuticals (ACRX) Releases Quarterly Earnings Results, Beats Estimates By $0.06 EPS

AcelRx Pharmaceuticals (NASDAQ:ACRX) posted its quarterly earnings data on Wednesday, May 8th. The specialty pharmaceutical company reported ($0.17) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.23) by $0.06, Morningstar.com reports. The company had revenue of $0.27 million for the quarter, compared to analyst estimates of $0.85 million.

AcelRx Pharmaceuticals stock opened at $2.59 on Friday. The company has a debt-to-equity ratio of 0.79, a current ratio of 5.03 and a quick ratio of 4.91. AcelRx Pharmaceuticals has a 52-week low of $1.99 and a 52-week high of $5.05. The firm has a market cap of $204.38 million, a price-to-earnings ratio of -3.20 and a beta of 2.16.

ACRX has been the subject of several recent research reports. LADENBURG THALM/SH SH set a $10.00 price target on AcelRx Pharmaceuticals and gave the company a “buy” rating in a research note on Friday, March 8th. BidaskClub upgraded AcelRx Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Monday, April 1st. Zacks Investment Research upgraded AcelRx Pharmaceuticals from a “hold” rating to a “buy” rating and set a $3.75 price target for the company in a report on Thursday, March 28th. B. Riley started coverage on AcelRx Pharmaceuticals in a report on Wednesday, April 24th. They set a “buy” rating and a $6.50 price target for the company. Finally, ValuEngine upgraded AcelRx Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Wednesday, May 1st. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. AcelRx Pharmaceuticals presently has a consensus rating of “Buy” and an average target price of $7.47.

In related news, Director Mark G. Edwards acquired 19,000 shares of the company’s stock in a transaction on Tuesday, March 12th. The stock was purchased at an average cost of $2.99 per share, for a total transaction of $56,810.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 7.50% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. raised its stake in shares of AcelRx Pharmaceuticals by 16.8% during the third quarter. BlackRock Inc. now owns 786,034 shares of the specialty pharmaceutical company’s stock valued at $3,026,000 after purchasing an additional 112,919 shares during the period. Vanguard Group Inc. raised its stake in shares of AcelRx Pharmaceuticals by 26.3% during the third quarter. Vanguard Group Inc. now owns 2,085,556 shares of the specialty pharmaceutical company’s stock valued at $8,030,000 after purchasing an additional 433,969 shares during the period. Vanguard Group Inc raised its stake in shares of AcelRx Pharmaceuticals by 26.3% during the third quarter. Vanguard Group Inc now owns 2,085,556 shares of the specialty pharmaceutical company’s stock valued at $8,030,000 after purchasing an additional 433,969 shares during the period. Cedar Wealth Management LLC raised its stake in shares of AcelRx Pharmaceuticals by 36.9% during the fourth quarter. Cedar Wealth Management LLC now owns 46,395 shares of the specialty pharmaceutical company’s stock valued at $107,000 after purchasing an additional 12,500 shares during the period. Finally, Bank of New York Mellon Corp raised its stake in shares of AcelRx Pharmaceuticals by 55.1% during the fourth quarter. Bank of New York Mellon Corp now owns 67,149 shares of the specialty pharmaceutical company’s stock valued at $155,000 after purchasing an additional 23,866 shares during the period. Hedge funds and other institutional investors own 15.53% of the company’s stock.

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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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Earnings History for AcelRx Pharmaceuticals (NASDAQ:ACRX)

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