Perennial Advisors LLC purchased a new stake in shares of AcelRx Pharmaceuticals, Inc. (NASDAQ:ACRX) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 30,000 shares of the specialty pharmaceutical company’s stock, valued at approximately $138,000. Perennial Advisors LLC owned approximately 0.07% of AcelRx Pharmaceuticals as of its most recent SEC filing.
A number of other institutional investors have also added to or reduced their stakes in ACRX. Goldman Sachs Group Inc. purchased a new stake in shares of AcelRx Pharmaceuticals in the second quarter valued at $530,000. Virtu KCG Holdings LLC raised its stake in shares of AcelRx Pharmaceuticals by 600.9% in the second quarter. Virtu KCG Holdings LLC now owns 118,675 shares of the specialty pharmaceutical company’s stock valued at $255,000 after acquiring an additional 101,742 shares during the period. LMR Partners LLP purchased a new stake in shares of AcelRx Pharmaceuticals in the second quarter valued at $319,000. WealthTrust Axiom LLC raised its stake in shares of AcelRx Pharmaceuticals by 50.0% in the second quarter. WealthTrust Axiom LLC now owns 210,000 shares of the specialty pharmaceutical company’s stock valued at $451,000 after acquiring an additional 70,000 shares during the period. Finally, Bank of New York Mellon Corp raised its stake in shares of AcelRx Pharmaceuticals by 6.6% in the first quarter. Bank of New York Mellon Corp now owns 112,682 shares of the specialty pharmaceutical company’s stock valued at $355,000 after acquiring an additional 6,942 shares during the period. 23.34% of the stock is currently owned by institutional investors.
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Several equities research analysts have recently weighed in on the stock. Zacks Investment Research downgraded shares of AcelRx Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Tuesday, July 11th. ValuEngine downgraded shares of AcelRx Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research note on Thursday, October 12th. Jefferies Group LLC downgraded shares of AcelRx Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Friday, October 13th. Royal Bank Of Canada reduced their target price on shares of AcelRx Pharmaceuticals from $6.00 to $5.00 and set an “outperform” rating on the stock in a research note on Friday, October 13th. Finally, Roth Capital reissued a “buy” rating and issued a $12.50 target price on shares of AcelRx Pharmaceuticals in a research note on Thursday, August 10th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $6.83.
AcelRx Pharmaceuticals (NASDAQ:ACRX) last issued its quarterly earnings data on Tuesday, August 1st. The specialty pharmaceutical company reported ($0.29) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.28) by ($0.01). The company had revenue of $2.66 million for the quarter, compared to analysts’ expectations of $2.63 million.
In related news, CEO Vincent J. Angotti acquired 15,000 shares of AcelRx Pharmaceuticals stock in a transaction that occurred on Thursday, August 24th. The shares were purchased at an average cost of $3.00 per share, for a total transaction of $45,000.00. Following the acquisition, the chief executive officer now owns 15,000 shares in the company, valued at $45,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Pamela P. Palmer acquired 10,000 shares of AcelRx Pharmaceuticals stock in a transaction that occurred on Tuesday, August 22nd. The stock was bought at an average price of $2.95 per share, for a total transaction of $29,500.00. The disclosure for this purchase can be found here. Over the last 90 days, insiders purchased 37,000 shares of company stock worth $112,280. 28.10% of the stock is owned by insiders.
AcelRx Pharmaceuticals Company Profile
AcelRx Pharmaceuticals, Inc is a pharmaceutical company focused on the development and commercialization of therapies for the treatment of moderate-to-severe acute pain. The Company operates through the segment, which includes development and commercialization of product candidates for the treatment of pain.
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