Roth Capital Reiterates Neutral On Acelrx Pharmaceuticals, $6 PT
In a research report issued today, Roth Capital analyst Ed Arce reiterated a Neutral rating on Acelrx Pharmaceuticals (NASDAQ:ACRX) with a price target of $6.00.
Arce noted, “AcelRx continues to secure additional patents covering both its sufentanil NanoTab medication delivery devices and platform technology, as well as Zalviso specifically . Our positive view on AcelRx and Zalviso remain unchanged, however, we continue to rate the shares Neutral until uncertainty on the timelines for NDA resubmission and FDA acceptance are resolved. Since late last year, AcelRx has received 11 issued patents, including both pharmaceutical and device patents with a combination of composition and method claims which expand the scope of protection for both Zalviso and its pipeline programs.”
According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Ed Arce has a total average return of 19.2% and a 47.2% success rate. Arce has a -39.1% average return when recommending ACRX, and is ranked #202 out of 3335 analysts.