Acelrx (ACRX) Receives a Buy from Ladenburg Thalmann & Co.
Ladenburg Thalmann & Co. analyst Michael Higgins maintained a Buy rating on Acelrx (ACRX) today and set a price target of $5.00. The company’s shares closed last Monday at $1.26.
According to TipRanks.com, Higgins is currently ranked with 0 stars on a 0-5 stars ranking scale, with an average return of -5.1% and a 32.5% success rate. Higgins covers the Healthcare sector, focusing on stocks such as Eiger Biopharmaceuticals, Zynerba Pharmaceuticals, and Armata Pharmaceuticals.
Currently, the analyst consensus on Acelrx is a Moderate Buy with an average price target of $4.28.
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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.
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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.