AcelRx Pharmaceuticals Inc (NASDAQ:ACRX) announced that a presentation will be made at the 2015 Annual Meeting of the American Society of Anesthesiologists (Anesthesiology 2015) to be held October 24th to October 28th at the San Diego Convention Centerin San Diego, CA. For nearly 70 years, the ASA annual meeting has been the most comprehensive anesthesia educational event in the world, bringing together top influential and notable professionals in anesthesiology, pain medicine and critical care medicine. The ANESTHESIOLOGY™ 2015 annual meeting is expected to welcome more than 13,000 healthcare professionals.
The presentation marks the first time top-line results from the phase 3 study using sublingual sufentanil 30 mcg tablets being studied for the management of moderate-to-severe acute pain in outpatient abdominal surgery patients, or SAP301, will be revealed to an academic and scientific community within the U.S.
“These positive results from SAP301 support the potential benefits of sublingual sufentanil for physicians and their patients,” states Harold Minkowitz, MD, lead investigator in the study. “The onset of action, non-invasive route of administration and favorable tolerability could offer a new alternative for patients suffering from moderate-to-severe acute pain while transitioning off of IV analgesics, such as in outpatient surgery centers, or with limited IV access, such as in emergency rooms or field-based trauma settings.” (Original Source)
Shares of Acelrx Pharmaceuticals closed yesterday at $3.26. ACRX has a 1-year high of $9.32 and a 1-year low of $2.92. The stock’s 50-day moving average is $3.65 and its 200-day moving average is $3.95.
On the ratings front, Acelrx has been the subject of a number of recent research reports. In a report issued on October 8, Cowen analyst Boris Peaker reiterated a Hold rating on ACRX. Separately, on the same day, Roth Capital’s Michael Higgins maintained a Buy rating on the stock and has a price target of $10.50.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Boris Peaker and Michael Higgins have a total average return of 19.5% and 1.9% respectively. Peaker has a success rate of 44.1% and is ranked #144 out of 3801 analysts, while Higgins has a success rate of 46.2% and is ranked #1855.
AcelRx Pharmaceuticals Inc is a specialty pharmaceutical company. The Company is engaged in the development and commercialization of therapies for the treatment of acute pain.