In a report released yesterday, Leland Gershell from Oppenheimer maintained a Hold rating on Acelrx (ACRX). The company’s shares closed yesterday at $3.15.
Gershell observed:
“ACRX’s event earlier today focused on Dsuvia as we approach its expected February 2019 launch. Company leadership provided incremental detail on the commercial buildout plan, manufacturing, and reimbursement mechanics, and also set expectations around initial launch metrics. While a panel discussion held with several members of the acute pain management community expressed collective enthusiasm for sublingual sufentanil due to its unique attributes vs. injectable opioids, they cautioned around gradual uptake due to anticipated educational and formulary hurdles. We maintain our Perform rating and believe ACRX may struggle to achieve Street revenue expectations, particularly in the out-years.”
According to TipRanks.com, Gershell ‘s ranking currently consits of no stars on a 0-5 ranking scale, with an average return of -10.4% and a 26.1% success rate. Gershell covers the Healthcare sector, focusing on stocks such as Avenue Therapeutics Inc, Evofem Biosciences Inc, and AzurRx BioPharma Inc.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Acelrx with a $8.67 average price target.
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The company has a one-year high of $5.05 and a one-year low of $1.65. Currently, Acelrx has an average volume of 3.93M.
Based on the recent corporate insider activity of 18 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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