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Insider Buying: AcelRx Pharmaceuticals Director Acquires $125,200.00 in Stock (ACRX)
Posted on May 10, 2015 by Matt Cooper in Insider Trades, Investing

AcelRx Pharmaceuticals logoAcelRx Pharmaceuticals (NASDAQ:ACRX) Director Mark G. Edwards bought 40,000 shares of the company’s stock on the open market in a transaction that occurred on Thursday, May 7th. The shares were purchased at an average cost of $3.13 per share, for a total transaction of $125,200.00. Following the purchase, the director now directly owns 100,000 shares in the company, valued at approximately $313,000. The purchase was disclosed in a filing with the SEC, which can be accessed through this link.

Several analysts have recently commented on the stock. Analysts at Mizuho lowered their price target on shares of AcelRx Pharmaceuticals from $5.50 to $3.00 and set a “neutral” rating on the stock in a research note on Wednesday. Analysts at RBC Capital lowered their price target on shares of AcelRx Pharmaceuticals from $8.00 to $7.00 and set an “outperform” rating on the stock in a research note on Tuesday, May 5th. Analysts at Zacks reiterated a “hold” rating on shares of AcelRx Pharmaceuticals in a research note on Friday, May 1st. Finally, analysts at Global Hunter Securities initiated coverage on shares of AcelRx Pharmaceuticals in a research note on Monday, April 27th. They set an “accumulate” rating and a $22.00 price target on the stock. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the company. The company has an average rating of “Hold” and an average target price of $8.99.

AcelRx Pharmaceuticals (NASDAQ:ACRX) opened at 3.24 on Friday. AcelRx Pharmaceuticals has a 1-year low of $2.96 and a 1-year high of $11.65. The stock’s 50-day moving average is $4. and its 200-day moving average is $6.. The company’s market cap is $141.63 million.

AcelRx Pharmaceuticals (NASDAQ:ACRX) last announced its earnings results on Monday, May 4th. The company reported ($0.27) earnings per share for the quarter, beating the analysts’ consensus estimate of ($0.28) by $0.01. On average, analysts predict that AcelRx Pharmaceuticals will post $-0.94 earnings per share for the current fiscal year.

AcelRx Pharmaceuticals, Inc is a development-stage company. It is a specialty pharmaceutical company focused on the development and commercialization of therapies for the treatment of acute and breakthrough pain. The Company’s lead product candidate, Zalviso, formerly Sufentanil NanoTab PCA System (NASDAQ:ACRX), is under review by the Food and Drug Administration (FDA) for marketing approval, and is designed to improve the management of moderate-to-severe acute pain in patients in the hospital setting.

http://sleekmoney.com/insider-buying-acelrx-pharmaceuticals-director-acquires-125200-00-in-stock-acrx/249877/