Uncovering Institutional Buying In AcelRx Pharmaceuticals Inc. (NASDAQ: ACRX)


    The Vanguard Group, Inc. recently announced the acquisition of new stake in AcelRx Pharmaceuticals Inc. (NASDAQ:ACRX). The institutional investor has increased its shareholding in the Healthcare company by 2.85% to 3.62 million shares with purchase of 0.1 million shares. This fresh investment now brings its stake to 4.01% valued currently at $3.94 million. In addition, Geode Capital Management LLC raised its holdings by 98714.0 to 1.25 million shares. And D. E. Shaw & Co. LP has lifted its position by 39.49% or 0.29 million shares – to 1.03 million shares.

    With over 1.22 million AcelRx Pharmaceuticals Inc. (ACRX) shares trading Monday and a closing price of $1.27 on the day, the dollar volume was approximately $1.55 million. The shares have shown a negative weekly performance of -0.78% and its price on 08/24/20 lost nearly -7.30%. Currently, there are 90.32M common shares owned by the public and among those 88.98M shares have been available to trade.

    An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 5 analysts who have offered their price forecasts for ACRX have a consensus price objective of $4.97. The analysts have set the share’s price value over the next 12 months at a high of $9.00 and a low of $0.84 should the stock experience a downside. Incidentally, analysts’ outlook for the AcelRx Pharmaceuticals Inc. stock is 2.00 for the next 12 months. But an upside of 85.89% will see the stock hit the forecast high price target while mean target price for the stock is $5.00.

    Insiders at the company have transacted a total of 22 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 16 of these insider trades were purchases, accounting for 628,426 shares. Insider sales of the common stock occurred on 6 occasions, with total insider shares sold totaling 150,126 shares.

    The top 3 mutual fund holders in AcelRx Pharmaceuticals Inc. are Vanguard Total Stock Market Index, iShares Russell 2000 ETF, and Vanguard Extended Market Index Fu. Vanguard Total Stock Market Index owns 2.14 million shares of the company’s stock, all valued at over $2.34 million. iShares Russell 2000 ETF sold 72590.0 shares to see its total holdings shrink to 1.55 million shares valued at over $1.69 million and representing 1.72% of the shares outstanding. Vanguard Extended Market Index Fu now owns shares totaling to 1.29% of the shares outstanding.

    Shares of AcelRx Pharmaceuticals Inc. (NASDAQ: ACRX) opened at $1.41, up $0.04 from a prior closing price of $1.37. However, the script later closed the day at $1.27, down -7.30%. The company’s stock has a 5-day price change of -0.78% and -22.56% over the past three months. ACRX shares are trading -39.81% year to date (YTD), with the 12-month market performance down to -42.27% lower. It has a 12-month low price of $0.70 and touched a high of $2.80 over the same period. Currently, 1.22 million shares have been traded, compared to an average intraday trading volume of 1.28 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 2.17%, 4.47%, and -15.53% respectively.

    Institutional ownership of AcelRx Pharmaceuticals Inc. (NASDAQ: ACRX) shares accounts for 20.20% of the company’s 90.32M shares outstanding. Mutual fund holders own 14.03%, while other institutional holders and individual stakeholders account for 8.81% and 10.78% respectively.

    It has a market capitalization of $119.77M and a beta (3y monthly) value of 1.91. The earnings-per-share (ttm) stands at -$0.62. Price movements for the stock have been influenced by the stock’s volatility, which stands at 11.68% over the week and 8.43% over the month.

    Analysts forecast that AcelRx Pharmaceuticals Inc. (ACRX) will achieve an EPS of -$0.08 for the current quarter, -$0.06 for the next quarter and -$0.28 for 2021. The lowest estimate earnings-per-share for the quarter is -$0.1 while analysts give the company a high EPS estimate of -$0.05. Comparatively, EPS for the current quarter was -$0.16 a year ago. Earnings per share for the fiscal year are expected to increase by 16.70%, and 33.30% over the next financial year.

    If you are looking to buy this stock, then you may note that the average analyst recommendation by 5 brokerage firm advisors rate AcelRx Pharmaceuticals Inc. (ACRX) as a “Moderate Buy” at a consensus score of 2.00. Specifically, 4 Wall Street analysts polled rate the stock as a buy, while 0 of the 5 advise that investors “hold,” and 1 rated it as a “Sell.”

    Looking at the support for the ACRX, a number of firms have released research notes about the stock. Credit Suisse stated their Underperform rating for the stock in a research note on July 20, 2020, with the firm’s price target at. 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. Credit Suisse was of a view on August 05, 2019 that the stock is Outperform, while Credit Suisse gave the stock Outperform rating on July 10, 2019, issuing a price target of. B. Riley FBR on their part issued Buy rating on April 24, 2019.


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