AcelRx Pharmaceuticals Inc (NASDAQ:ACRX), a specialty pharmaceutical company focused on the development and commercialization of innovative therapies for the treatment of acute pain, today announced that the company has joined the broad-market Russell 3000 and Russell 2000 Indexes according to the final membership lists posted June 24th, 2016.
The Russell 2000® Index measures the performance of the small-cap segment of the U.S. equity market and is a subset of the Russell 3000®, representing approximately 10% of the total market capitalization of that index. Membership in the Russell 3000® Index includes automatic inclusion in the appropriate growth and style indexes. FTSE Russell determines membership for its Russell indexes by objective, market-capitalization rankings and style attributes.
Indexes provided by FTSE Russell, a leading global index provider, are widely used by investment managers and institutional investors for index funds and as benchmarks for active investment strategies. Approximately$6 trillion in assets are benchmarked against the Russell US indexes. (Original Source)
Shares of Acelrx closed last Friday at $2.57, down $0.16 or -5.86%. ACRX has a 1-year high of $5.88 and a 1-year low of $2.56. The stock’s 50-day moving average is $3.19 and its 200-day moving average is $3.47.
On the ratings front, Acelrx has been the subject of a number of recent research reports. In a report issued on June 9, Jefferies Co. analyst Hugo Ong reiterated a Buy rating on ACRX, with a price target of $7, which implies an upside of 172.4% from current levels. Separately, on May 3, H.C. Wainwright’s Ed Arce reiterated a Buy rating on the stock .
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Hugo Ong and Ed Arce have a total average return of -15.6% and 7.7% respectively. Ong has a success rate of 7.7% and is ranked #3568 out of 3980 analysts, while Arce has a success rate of 31.1% and is ranked #565.
AcelRx Pharmaceuticals, Inc. is a specialty pharmaceutical company that focuses on the development and commercialization of therapies for the treatment of actual pain. Its lead product candidate includes ZalvisoTM intended for the management of moderate-to-severe acute pain in hospitalized adult patients. Zalviso consists of sufentanil sublingual tablets delivered by the Zalviso System, a needle-free, handheld, patient-administered, pain management system. It is designed to address the problems associated with post-operative intravenous patient-controlled analgesia, or IV PCA.