In a report released today, Leland Gershell from Oppenheimer maintained a Hold rating on Acelrx (ACRX). The company’s shares closed yesterday at $3.76.
Gershell commented:
“4Q18 net loss was $12.6M vs our $16.3M. ACRX has executed contracts on Dsuvia with GPOs covering ~80% of commercial launch targets, and began shipping product to wholesalers last month. While we are encouraged by increased YE19 guidance on formulary approvals, we remain on the sidelines given lukewarm enthusiasm from our recent physician checks. ACRX plans to provide formulary win updates on a quarterly basis, and we look forward to seeing incremental data from these and other launch indicators as Dsuvia advances into the marketplace.”
According to TipRanks.com, Gershell is a 1-star analyst with an average return of -4.8% and a 28.6% success rate. Gershell covers the Healthcare sector, focusing on stocks such as Evofem Biosciences Inc, AzurRx BioPharma Inc, and Urogen Pharma Ltd.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Acelrx with a $8 average price target.
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Based on Acelrx’s latest earnings release for the quarter ending December 31, the company reported a quarterly GAAP net loss of $12.56 million. In comparison, last year the company had a GAAP net loss of $9.89 million.
Based on the recent corporate insider activity of 31 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.
