H.C. Wainwright Maintains a Buy Rating on Acelrx (ACRX)


H.C. Wainwright analyst Ed Arce maintained a Buy rating on Acelrx (ACRX) on September 15 and set a price target of $7.00. The company’s shares closed last Wednesday at $1.28.

According to TipRanks.com, Arce is a 5-star analyst with an average return of 13.5% and a 42.0% success rate. Arce covers the Healthcare sector, focusing on stocks such as Entasis Therapeutics Holdings, Madrigal Pharmaceuticals, and Aurinia Pharmaceuticals.

Currently, the analyst consensus on Acelrx is a Moderate Buy with an average price target of $4.28, a 242.4% upside from current levels. In a report issued on September 15, 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.

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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.

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