Oppenheimer Initiates a Hold Rating on Acelrx


In a report released today, Leland Gershell from Oppenheimer initiated coverage with a Hold rating on Acelrx (NASDAQ: ACRX). The company’s shares opened today at $2.90.

Gershell wrote:

“We initiate coverage of ACRX with a Perform rating. Through products that incorporate its proprietary under-the-tongue tablet formulation of sufentanil, a powerful opioid-based analgesic, AcelRx’s mission is to provide acute pain management solutions that offer efficacy, safety, and convenience advantages over current standards. However, we lack conviction on Dsuvia and Zalviso’s ability to take meaningful share within the large acute pain/injectable opioid treatment market. Nearest term, we are cautious on Dsuvia’s late-2018 FDA decision in a regulatory and societal atmosphere attuned to opioids’ liabilities.”

According to TipRanks.com, Gershell is currently ranked with no stars on a 0-5 star ranking scale, with an average return of -30.8% and a 0.0% success rate. Gershell covers the Healthcare sector, focusing on stocks such as Avenue Therapeutics Inc, Evofem Biosciences Inc, and Urogen Pharma Ltd.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Acelrx with a $6.50 average price target.

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Based on Acelrx’s latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $11.59 million. In comparison, last year the company had a GAAP net loss of $13.06 million.

Based on the recent corporate insider activity of 12 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.

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