AcelRx Pharmaceuticals, Inc. (NASDAQ:ACRX) is a stock to watch today. At current price of $1.64, the shares have already lost -0.03 points (-1.5% lower) from its previous close of $1.67. The stock sets an active trading volume day with a reported 237253 contracts so far this session. ACRX shares had a relatively better volume day versus average trading capacity of 867.16 thousand shares, but with a 70.97 million float and a -2.91% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for ACRX stock indicates that the average analyst price target is $6.8 per share. This means the stock has a potential increase of 314.63% from where the ACRX share price has been trading recently.
During the recent trading session for AcelRx Pharmaceuticals, Inc. (NASDAQ:ACRX), the company witnessed their stock drop by $-0.03 over a week and tumble down $-0.34 from the price 20 days ago. When compared to their established 52-week high of $4.09, the high they recorded in their recent session happens to be higher. Their established 52-week high was attained by the company on 05/03/19. The recent low of $1.64 stood for a -59.78% since 02/14/20, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 1.93 is also allocated to the stock. Since the beta is greater than one, it implies that the stock is more volatile than the market, a data that traders are keeping close attention to.
Looking at the current readings for AcelRx Pharmaceuticals, Inc., the two-week RSI stands at 31.64. This figure suggests that ACRX stock, for now, is neutral, meaning that the shares are stable in terms of price movement. The stochastic readings, on the other hand, based on the current ACRX readings is similarly very revealing as it has a stochastic reading of 9.47% at this stage. This figure means that ACRX share price today is being overbought.
Technical chart claims that AcelRx Pharmaceuticals, Inc. (ACRX) would settle between $1.7/share to $1.73/share level. However, if the stock price goes below the $1.65 mark, then the market for AcelRx Pharmaceuticals, Inc. becomes much weaker. If that happens, the stock price might even plunge as low as $1.63 for its downside target. The stock is currently in the red zone of MACD, with the indicator reading -0.01. Traders are always alerted for the move of a stock above or below the zero line due to the fact that the reading is an indicator of the position of the short-term average relative to the long-term average. If the MACD is above the zero line, then the short-term average relative is above that of the long-term average, thus implying an upward momentum. Vice versa is the case if the MACD is below the zero line.
Analysts at Credit Suisse lowered their recommendation on shares of ACRX from Outperform to Neutral in their opinion released on November 11. Credit Suisse, analysts launched coverage of AcelRx Pharmaceuticals, Inc. (NASDAQ:ACRX) stock with a Outperform recommendation, according to their flash note issued to investors on August 05. Analysts at Credit Suisse, made their first call for the equity with a Outperform recommendation, according to a research note that dated back to July 10.
ACRX equity has an average rating of 1.83, with the figure leaning towards a bullish end. 5 analysts who tracked the company were contacted by Reuters. Amongst them, 1 rated the stock as a hold while the remaining 4 were split even though not equally. Some analysts rate the stock as a buy or a strong buy while no rated it as a sell. 4 analysts rated AcelRx Pharmaceuticals, Inc. (NASDAQ:ACRX) as a buy or a strong buy while not a single analyst advised that investors should desist from purchasing the stock or sell them if they already own the company’s stock.
AcelRx Pharmaceuticals, Inc. (ACRX)’s current-quarter revenues are projected to climb by nearly 64.8% to hit $1.01 million, based on current consensus estimate. The firm’s full-year revenues are expected to expand by over 31.1% from $2.15 million to a noteworthy $2.82 million. At the other end of the current quarter income statement, AcelRx Pharmaceuticals, Inc. is expected to see its adjusted earnings surge by roughly -11.1% to hit $-0.2 per share. For the fiscal year, ACRX’s earnings are projected to climb by roughly 14.8% to hit $-0.69 per share.