AcelRx Pharmaceuticals Inc. (ACRX) has been one of the best performers amongst all NYSE and NASDAQ listed stocks in the health care sector during morning trading on September 23. At the lunch break, shares of ACRX have clocked gains of 4.06% to $3.73 after closing the day prior at $3.58. In the first two and a half hours of trading, the stock has gone as high as $3.73 and as low as $3.62. Today’s rise has come with about 133,854 shares changing hands, compared to an average 30-day volume of 408,005 for AcelRx Pharmaceuticals Inc.. The price is currently below the 30-day volume weighted average price of $3.69 for ACRX.
The share appreciation gives the company a market capitalization of $162.22 million based upon 45.31 million shares outstanding. It also means that ACRX has a price-to-book ratio of 12.02:1.
In the past 52 weeks, shares of ACRX have traded as low as $2.4 and as high as $5.88. Technical traders will take note that at $3.73, shares of ACRX are trading above their 200-day MA at $3.41 and above their 50-day MA at $3.33. Technical analysts pay close attention to these key moving averages because they often serve as technical support and resistance levels and because a move through or holding above them is typically regarded as bullish.
Who is ACRX?
AcelRx Pharmaceuticals Inc is a specialty pharmaceutical company. The Company is engaged in the development and commercialization of therapies for the treatment of acute pain. The company’s 39 employees are led by CEO Howard Rosen from the corporate headquarters at 351 Galveston Drive in Redwood City, CA.
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