In a report released today, Ed Arce from H.C. Wainwright maintained a Buy rating on Acelrx (ACRX), with a price target of $9. The company’s shares closed yesterday at $4.27.
Arce observed:
“916-3963, Probability of approval Risk-adj value Full value Dsuvia – U.S. 100% $8.06 $8.06 Shares outstanding 61,907 Zalviso – EU 100% $0.15 $0.15 Current share price $4.27 Discount rate 12.5% Zalviso – U.S.”
According to TipRanks.com, Arce is a 5-star analyst with an average return of 15.5% and a 40.0% success rate. Arce covers the Healthcare sector, focusing on stocks such as Madrigal Pharmaceuticals Inc, Melinta Therapeutics Inc, and Collegium Pharmaceutical.
Acelrx has an analyst consensus of Strong Buy, with a price target consensus of $8.50, a 99.1% upside from current levels. In a report issued on October 23, B.Riley FBR also initiated coverage with a Buy rating on the stock with a $9 price target.
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Based on Acelrx’s latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of $12.46 million. In comparison, last year the company had a GAAP net loss of $13.01 million.
Based on the recent corporate insider activity of 17 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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