Cantor Fitzgerald analyst Brandon Folkes maintained a Buy rating on Acelrx (ACRX) today and set a price target of $9. The company’s shares opened today at $2.43.
“Zalviso offer advantages to the patient, physician/nurse and the treatment facility, in our opinion. In addition to Dsuvia approval, if Zalviso is also approved and both are priced accordingly, we believe it will drive the uptake of both products beyond the Street’s current estimates, which should drive the stock higher. Valuation Summary We use a blend of DCF and multiples (EV/EBITDA) analysis to get to our 12-month price target of $9.”
According to TipRanks.com, Folkes is a 1-star analyst with an average return of -4.7% and a 29.6% success rate. Folkes covers the Healthcare sector, focusing on stocks such as Opiant Pharmaceuticals Inc, Eagle Pharmaceuticals Inc, and Collegium Pharmaceutical.
Currently, the analyst consensus on Acelrx is a Strong Buy with an average price target of $9.25, implying a 280.7% upside from current levels. In a report issued on January 15, H.C. Wainwright also maintained a Buy rating on the stock with a $9 price target.
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Based on Acelrx’s latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of $12.46 million. In comparison, last year the company had a GAAP net loss of $9.89 million.
Based on the recent corporate insider activity of 21 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of ACRX in relation to earlier this year.
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AcelRx Pharmaceuticals, Inc. is a specialty pharmaceutical company, which engages in the development and commercialization of therapies for the treatment of acute pain. Its products include DSUVIA and ZALVISO. The company was founded by Thomas A. Schreck and Pamela Pierce Palmer on July 13, 2005 and is headquartered in Redwood City, CA.