Armistice Capital LLC recently announced the acquisition of new stake in AcelRx Pharmaceuticals Inc. (NASDAQ:ACRX). This fresh investment now brings its stake to 4.48% valued currently at $0.52 million. In addition, The Vanguard Group, Inc. raised its holdings by 126.0 to 0.23 million shares. And Tang Capital Management LLC has lifted its position by 903.96% or 0.18 million shares – to 0.2 million shares.
With over 2.03 million AcelRx Pharmaceuticals Inc. (ACRX) shares trading Tuesday and a closing price of $0.87 on the day, the dollar volume was approximately $1.77 million. The shares have shown a negative half year performance of -82.73% and its price on 03/14/23 lost nearly -21.05%. Currently, there are 7.38M common shares owned by the public and among those 7.36M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 2 analysts who have offered their price forecasts for ACRX have a consensus price objective of $80.00. The analysts have set the share’s price value over the next 12 months at a high of $80.00 and a low of $80.00. The average price target is 98.91% above its recent price level and an upside to the estimated low will see the stock gain 98.91% over that period. But an upside of 98.91% will see the stock hit the forecast high price target while median target price for the stock is $80.00.
Insiders at the company have transacted a total of 12 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 8 of these insider trades were purchases, accounting for 154,900 shares. Insider sales of the common stock occurred on 4 occasions, with total insider shares sold totaling 3,738 shares.
The top 3 mutual fund holders in AcelRx Pharmaceuticals Inc. are Vanguard Total Stock Market Index, Vanguard Extended Market Index Fu, and Fidelity Extended Market Index Fu. Vanguard Total Stock Market Index owns 0.11 million shares of the company’s stock, all valued at over $0.16 million. Fidelity Extended Market Index Fu now owns shares totaling to 0.37% of the shares outstanding.
Shares of AcelRx Pharmaceuticals Inc. (NASDAQ: ACRX) opened at $1.25, up $0.15 from a prior closing price of $1.10. However, the script later moved the day high at 1.2500, down -21.05%. The company’s stock has a 5-day price change of -28.22% and -58.64% over the past three months. ACRX shares are trading -61.57% year to date (YTD), with the 12-month market performance down to -87.33% lower. It has a 12-month low price of $1.06 and touched a high of $7.68 over the same period. ACRX has an average intraday trading volume of 160.03K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -36.97%, -53.01%, and -75.47% respectively.
Institutional ownership of AcelRx Pharmaceuticals Inc. (NASDAQ: ACRX) shares accounts for 12.40% of the company’s 7.38M shares outstanding. Mutual fund holders own 13.84%, while other institutional holders and individual stakeholders account for 4.01% and 1.81% respectively.
It has a market capitalization of $6.33M and a beta (3y monthly) value of 0.33. The stock’s trailing 12-month PE ratio is 0.14, while the earnings-per-share (ttm) stands at $6.21. Price movements for the stock have been influenced by the stock’s volatility, which stands at 16.78% over the week and 10.61% over the month.
Analysts forecast that AcelRx Pharmaceuticals Inc. (ACRX) will achieve an EPS of -$0.51 for the current quarter, -$1.39 for the next quarter and -$2.93 for 2023. The lowest estimate earnings-per-share for the quarter is -$0.92 while analysts give the company a high EPS estimate of -$0.1. Comparatively, EPS for the current quarter was -$1.2 a year ago. Earnings per share for the fiscal year are expected to increase by 38.20%, and -142.20% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 2 brokerage firm advisors rate AcelRx Pharmaceuticals Inc. (ACRX) as a “Moderate Buy” at a consensus score of 2.50. Specifically, 1 Wall Street analysts polled rate the stock as a buy, while 1 of the 2 advise that investors “hold,” and 0 rated it as a “Sell.”
Credit Suisse coverage for the AcelRx Pharmaceuticals Inc. (ACRX) stock in a research note released on November 11, 2019 offered a Neutral rating with a price target of $2. B. Riley FBR on their part issued Buy rating on April 24, 2019.
