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Cantor Fitzgerald Remains a Buy on Acelrx (ACRX)


Cantor Fitzgerald analyst Brandon Folkes reiterated a Buy rating on Acelrx (NASDAQ: ACRX) yesterday and set a price target of $6. The company’s shares closed on Friday at $2.91.

Folkes wrote:

“We reiterate our OW rating on ACRX. Zalviso offer advantages to patients, physicians/nurses and treatment facilities. If approved and priced accordingly, we believe that will drive 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 $6.”

According to TipRanks.com, Folkes is a 1-star analyst with an average return of -2.2% and a 38.3% success rate. Folkes covers the Healthcare sector, focusing on stocks such as Biohaven Pharmaceutical Holding Co Ltd, Opiant Pharmaceuticals Inc, and Eagle Pharmaceuticals Inc.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Acelrx with a $5.75 average price target.

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Based on Acelrx’s latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $10.54 million. In comparison, last year the company had a GAAP net loss of $13.01 million.

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.