Analysts fell to the sidelines weighing in on CRH Medical Corporation (CRHM) and Acelrx (ACRX) with neutral ratings, indicating that the experts are neither bullish nor bearish on the stocks.
CRH Medical Corporation (CRHM)
Cantor Fitzgerald analyst Joseph France reiterated a Hold rating on CRH Medical Corporation today and set a price target of $3.50. The company’s shares opened today at $3.05.
France wrote:
“We are reiterating our Neutral rating, but adjusting our 2018-19 outlook and raising our price target to $3.50 from $3, to reflect recent acquisitions and the company’s 3Q18 performance. CRH completed two acquisitions (worth $9.2 million) during the quarter, bringing the year-to-date total to $25 million and implying $8 million of acquisitions in 4Q18. The company continues to develop its Managed Anesthesia Care (MAC) program and increase synergies between its Anesthesia and O’Regan businesses. We continue to believe that the company’s outlook depends primarily upon on its ability to partner with prominent GI groups in large markets, and acquire and integrate new practices, while enhancing their revenue cycles management (RCM) capabilities.”
According to TipRanks.com, France is a 5-star analyst with an average return of 10.2% and a 56.9% success rate. France covers the Services sector, focusing on stocks such as Cross Country Healthcare, Five Star Quality Care, and Addus Homecare Corp.
Currently, the analyst consensus on CRH Medical Corporation is a Strong Buy with an average price target of $3.50.
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Acelrx (ACRX)
Oppenheimer analyst Leland Gershell reiterated a Hold rating on Acelrx today. The company’s shares opened today at $4.88, close to its 52-week high of $5.05.
Gershell observed:
“Following its announcement on Friday, 11/2, that Dsuvia had received FDA approval, AcelRx provided further detail in a conference call held this morning. The positive regulatory action followed last month’s 10-3 AdComm vote in favor, hence came within expectations despite political dissension highlighted by the media. ACRX will launch Dsuvia next quarter and proceed with its commercialization in staged fashion. The company did not provide sales guidance, and we remain on the sidelines given our tempered outlook on uptake.”
According to TipRanks.com, Gershell is a 1-star analyst with an average return of -1.5% and a 35.3% success rate. Gershell covers the Healthcare sector, focusing on stocks such as Avenue Therapeutics Inc, AzurRx BioPharma Inc, and Urogen Pharma Ltd.
Acelrx has an analyst consensus of Strong Buy, with a price target consensus of $8.50.
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