ACRX: AcelRx Pharmaceuticals Up Over 6% in Early Trading

The company's earning reports hiked up its stock value

   

ACRX: AcelRx Pharmaceuticals Up Over 6% in Early Trading

AcelRx Pharmaceuticals (ACRX) saw its shares soar following Monday’s quarterly earnings report released after closing.

The company’s revenue for the quarter was $27.60 million which was significantly higher than the consensus estimate of $4.93 million. Six investment analysts have rated ACRX stock with a buy rating and a consensus target price of $15.21.

The consensus estimate for AcelRx’s 2014 revenue is $3.6 million. However, the company expects to make a $5 million milestone fee in Q3 from Grunenthal GmbH when it submits its marketing application to European regulators for Zalviso by mid-year.

Mutual fund ownership has grown from 25 to 123 over the past four quarters.

ACRX stock is up about 6.6% in early trading Tuesday.


Article printed from InvestorPlace Media, http://investorplace.com/2014/03/acrx-acelrx/.

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