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 $2.90.
Arce commented:
“916-3963, Probability of approval Risk-adj value Full value Dsuvia – U.S. 85% $5.62 $6.61 Shares outstanding 53,327 Zalviso – EU 100% $0.13 $0.13 Current share price $2.80 Discount rate 13.5% Zalviso – U.S.”
According to TipRanks.com, Arce is a 5-star analyst with an average return of 22.7% and a 41.3% success rate. Arce covers the Healthcare sector, focusing on stocks such as Madrigal Pharmaceuticals Inc, Conatus Pharmaceuticals, and Paratek Pharmaceuticals.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Acelrx with a $5.33 average price target, an 83.8% upside from current levels. In a report issued on August 2, Cantor Fitzgerald also reiterated a Buy rating on the stock with a $6 price target.
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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 767.3K.
Based on the recent corporate insider activity of 14 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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