AcelRx Pharmaceuticals Inc. (NASDAQ: ACRX) Price Target Increased at Roth Capital

AcelRx Pharmaceuticals Inc. (NASDAQ: ACRX) had its price target raised by equities researchers at Roth Capital from $11.25 to $15.00.Roth Capital currently has a rating of Buy on the shares. A number of other analysts have spoken on the stock recently, and the company has earned a consensus one-year price target of $6.85, higher than the opening price of $3.66, a difference of 19.03 percent. AcelRx Pharmaceuticals Inc. stock has a 52-week high of $5.88.

U.S. stocks finished higher Thursday, near their intra-day highs.

The Dow Jones Industrial Average DJIA, +0.99% closed up 177.71 points, or 1%, at 18,212.48, led by a 3.4% surge in shares of Apple Inc. AAPL, +3.40%

All 30 of the Dow components finished in the green.

The S&P 500 index SPX, +1.01% wrapped up 21.49 points, or 1%, to 2,147.26, and all the large-cap gauge’s sectors ended higher, topped by a 1.7% rise in the tech sector and a 1.1% gain in health-care shares

Share prices sometimes get a bounce to the upside when analysts inititate coverage.

Shares of AcelRx Pharmaceuticals Inc. (NASDAQ: ACRX) opened at $3.66 yesterday and traded in a range between, $3.52 and $3.83, and last traded at $3.60, which represents a change of $ 0.32 over the previous closing price.

AcelRx Pharmaceuticals Inc. (NASDAQ: ACRX) now has a market cap of 163.12M

The stocks average daily volume is 414,659 shares out of a total float 26,081,000 and some 4,335,330 shares crossed the trading desk yesterday, 58 percent higher than normal. Significant increases in trading volume and price appreciation together could signal heavy volume accumulation by institutional investors.

While increased trading for one day will not mean much, conversely, a trend of heavy trading volume on the buy side over a period of days or weeks sends a positive signal to market traders that institutions may be moving in, so institutional sponsorship is very important.

Institutional sponsorship is defined by ownership of a stock by mutual funds, banks, pension funds and other large institutions.

These professional investors have teams of analysts researching thousands of stocks, so it is good confirmation to see them buying a stock you are considering.

By tracking the activity of these professional investors—and the moving averages they affect—it allows for traders to make more effective decisions on trades.

With that in mind AcelRx Pharmaceuticals Inc. (NASDAQ: ACRX) now has a 50-day MA is $3.41 and 200-day MA is $3.30, and it has traded in a 52-week range between $2.40 – 5.88 and today’s last price is -38.78 percent off the 52 week high of $5.88.

Indeed, earnings growth is among the most important things to look in regards to stock investing and, accordingly, investors seek companies who have been successful at growing their earnings by at least 25 percent over a 3 year period.

DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of The Woodbridge Citizen. Readers should not consider statements made by the author as formal recommendations and should consult their financial adviser before making any investment decisions. To read our full disclosure, please see our terms and conditions page.

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