ACRX: AcelRx Pharmaceuticals Up Over 6% in Early Trading

by Karl Utermohlen | March 4, 2014 12:31 pm

ACRX: AcelRx Pharmaceuticals Up Over 6% in Early Trading

AcelRx Pharmaceuticals (ACRX[1]) saw its shares soar following Monday’s quarterly earnings report released after closing.

The company’s revenue for the quarter[2] 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[3] 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.

Endnotes:
  1. ACRX: http://studio-5.financialcontent.com/investplace/quote?Symbol=ACRX
  2. revenue for the quarter: http://tickerreport.com/banking-finance/152592/acelrx-pharmaceuticals-acrx-announces-quarterly-results/
  3. consensus estimate: http://seekingalpha.com/news/1605813-acelrx-pharma-up-more-than-8-percent-in-early-trading

Source URL: http://investorplace.com/2014/03/acrx-acelrx/
Short URL: http://invstplc.com/1mSRvES