Acelrx (ACRX) Gets a Buy Rating from H.C. Wainwright

By Austin Angelo

In a report released today, Ed Arce from H.C. Wainwright maintained a Buy rating on Acelrx (ACRXResearch Report), with a price target of $9.00. The company’s shares closed last Monday at $2.00, close to its 52-week low of $1.85.

According to TipRanks.com, Arce is a 4-star analyst with an average return of 6.4% and a 34.3% success rate. Arce covers the Healthcare sector, focusing on stocks such as Entasis Therapeutics Holdings, Madrigal Pharmaceuticals, and Conatus Pharmaceuticals.

Currently, the analyst consensus on Acelrx is a Moderate Buy with an average price target of $10.00, implying a 390.2% upside from current levels. In a report released yesterday, Ladenburg Thalmann & Co. also maintained a Buy rating on the stock with a $10.00 price target.

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Based on Acelrx’s latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $12.41 million. In comparison, last year the company had a GAAP net loss of $12.46 million.

Based on the recent corporate insider activity of 25 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.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

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.