H.C. Wainwright analyst Ed Arce maintained a Buy rating on Acelrx (ACRX) yesterday and set a price target of $7.00. The company’s shares closed last Monday at $1.27.
According to TipRanks.com, Arce is a 5-star analyst with an average return of 17.5% and a 45.2% success rate. Arce covers the Healthcare sector, focusing on stocks such as Entasis Therapeutics Holdings, Madrigal Pharmaceuticals, and Aurinia Pharmaceuticals.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Acelrx with a $4.28 average price target, a 203.5% upside from current levels. In a report issued on August 11, Ladenburg Thalmann & Co. also maintained a Buy rating on the stock with a $5.00 price target.
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Based on Acelrx’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $2.92 million and GAAP net loss of $6.61 million. In comparison, last year the company earned revenue of $941K and had a GAAP net loss of $12.41 million.
Based on the recent corporate insider activity of 21 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of ACRX in relation to earlier this year.
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AcelRx Pharmaceuticals, Inc. engages in the development and commercialization of therapies use in medically supervised settings. Its products include sufentanil, DZUVEO, DSUVIA ZALVISO US and ZALVISO EU. The company was founded by Thomas A. Schreck and Pamela Pierce Palmer on July 13, 2005 and is headquartered in Redwood City, CA.
