AcelRx Pharmaceuticals, Inc. (NASDAQ:ACRX) Sees Significant Decrease in Short Interest

AcelRx Pharmaceuticals, Inc. (NASDAQ:ACRXGet Rating) was the target of a large drop in short interest in August. As of August 31st, there was short interest totalling 11,250,000 shares, a drop of 19.9% from the August 15th total of 14,040,000 shares. Based on an average daily trading volume, of 3,150,000 shares, the short-interest ratio is presently 3.6 days.

Hedge Funds Weigh In On AcelRx Pharmaceuticals

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Values First Advisors Inc. raised its position in shares of AcelRx Pharmaceuticals by 19.4% in the 2nd quarter. Values First Advisors Inc. now owns 767,154 shares of the specialty pharmaceutical company’s stock valued at $187,000 after purchasing an additional 124,639 shares during the last quarter. apricus wealth LLC purchased a new position in shares of AcelRx Pharmaceuticals in the 4th quarter valued at approximately $73,000. Finally, Virtu Financial LLC purchased a new position in shares of AcelRx Pharmaceuticals in the 2nd quarter valued at approximately $29,000. 11.61% of the stock is owned by hedge funds and other institutional investors.

AcelRx Pharmaceuticals Stock Performance

NASDAQ:ACRX opened at $0.28 on Friday. AcelRx Pharmaceuticals has a fifty-two week low of $0.16 and a fifty-two week high of $1.08. The stock has a market capitalization of $41.25 million, a P/E ratio of 0.97 and a beta of 0.27. The company’s 50-day simple moving average is $0.27 and its 200-day simple moving average is $0.26.

AcelRx Pharmaceuticals (NASDAQ:ACRXGet Rating) last released its quarterly earnings results on Thursday, August 11th. The specialty pharmaceutical company reported ($0.06) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.06). During the same quarter in the prior year, the firm earned ($0.08) earnings per share. On average, research analysts forecast that AcelRx Pharmaceuticals will post -0.18 EPS for the current year.

Wall Street Analysts Forecast Growth

Separately, started coverage on shares of AcelRx Pharmaceuticals in a report on Saturday, September 10th. They issued a “sell” rating on the stock.

About AcelRx Pharmaceuticals

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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 and DZUVEO, a 30 mcg sufentanil sublingual tablet for the treatment of moderate-to-severe acute pain. The company 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; ARX-02, which is in Phase 2 clinical trial for the treatment of cancer breakthrough pain in opioid-tolerant patients; and 4ARX-03 for mild sedation and pain relief during painful procedures.

Further Reading

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