H.C. Wainwright analyst Ed Arce maintained a Buy rating on Acelrx (ACRX) today and set a price target of $9. The company’s shares closed yesterday at $2.44.
Arce said:
“We believe these findings support a comparatively benign overall safety profile for DSUVIA that is well tolerated, with most AEs either mild or moderate in severity. However, aside from safety, we highlight and discuss below three important conclusions from this paper: (1) one dose of DSUVIA is bioequivalent to a standard 5 mg dose of IV morphine; (2) the analgesic effect of Zalviso is five times more rapid than IV morphine with morphine, treatment with DSUVIA has demonstrated no evidence of cognitive impairment in patients. Affirm Buy. One DSUVIA tablet is bioequivalent to 5 mg IV morphine. First, the morphine equivalent per SST dosage strength was determined utilizing dosing data from 357 patients in an active-comparator study.”
According to TipRanks.com, Arce is a 4-star analyst with an average return of 7.0% and a 36.3% success rate. Arce covers the Healthcare sector, focusing on stocks such as Madrigal Pharmaceuticals Inc, Melinta Therapeutics Inc, and Collegium Pharmaceutical.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Acelrx with a $8.80 average 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.
