AcelRx Pharmaceuticals (NASDAQ:ACRX) Issues Earnings Results, Beats Expectations By $0.07 EPS

AcelRx Pharmaceuticals (NASDAQ:ACRX) announced its quarterly earnings data on Wednesday. The specialty pharmaceutical company reported ($0.16) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.23) by $0.07, Fidelity Earnings reports. The firm had revenue of $0.61 million during the quarter, compared to the consensus estimate of $1.22 million.

AcelRx Pharmaceuticals stock traded down $0.06 during midday trading on Friday, reaching $1.94. The stock had a trading volume of 1,142,700 shares, compared to its average volume of 1,497,888. The firm has a market capitalization of $161.25 million, a PE ratio of -2.40 and a beta of 2.06. The firm’s 50-day moving average price is $2.18 and its 200 day moving average price is $2.53. AcelRx Pharmaceuticals has a 12 month low of $1.85 and a 12 month high of $4.09.

In other news, Director Mark G. Edwards bought 15,000 shares of the business’s stock in a transaction on Monday, August 26th. The stock was acquired at an average price of $2.19 per share, with a total value of $32,850.00. Following the completion of the purchase, the director now directly owns 213,750 shares in the company, valued at $468,112.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 7.50% of the stock is owned by corporate insiders.

ACRX has been the topic of a number of research reports. Credit Suisse Group initiated coverage on AcelRx Pharmaceuticals in a research note on Monday, August 5th. They issued an “outperform” rating and a $7.00 price objective on the stock. HC Wainwright restated a “buy” rating and issued a $9.00 price objective on shares of AcelRx Pharmaceuticals in a research note on Friday. Finally, Zacks Investment Research cut AcelRx Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Thursday, October 24th. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $7.33.

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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