In a report released today, Ed Arce from H.C. Wainwright maintained a Buy rating on Acelrx (NASDAQ: ACRX), with a price target of $7. The company’s shares opened today at $2.48.
Arce observed:
“We expect U.S. product launch of DSUVIA in 1Q19 (85% POS) with a modest peak sales projection of ~$265M in 2026. For Zalviso, we project product launch in 1H20 (85% POS) with peak sales in 2027 of ~$150M. We apply a 13.5% discount rate to both products. Key risks to the achievement of our target price include: (1) failure to gain regulatory approval; (2) further timeline delays; (3) competition; and (4) dilutive financing.”
According to TipRanks.com, Arce is a 5-star analyst with an average return of 17.0% and a 41.3% 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 Moderate Buy analyst consensus rating for Acelrx with a $5.75 average price target, which is a 131.9% upside from current levels. In a report issued on September 25, Cantor Fitzgerald also maintained a Buy rating on the stock.
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The company has a one-year high of $5.75 and a one-year low of $1.55. Currently, Acelrx has an average volume of 1.04M.
Based on the recent corporate insider activity of 15 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.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
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.
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