AcelRx Pharmaceuticals Inc (NASDAQ:ACRX) will announce the results of its multicenter, open-label Phase 3 clinical study of ARX-04, known as SAP303. The study was conducted in patients 40 years and older who have moderate-to-severe acute pain following a surgical procedure. Patients were administered one dose of ARX-04 (sufentanil sublingual tablet, 30 mcg) every 60 minutes, as needed for pain management, for up to 12 hours.
AcelRx will conduct a conference call and webcast tomorrow morning, September 15, at 9:00 a.m. Eastern time (6:00 a.m. Pacific time) to discuss this update and the trial results. (Original Source)
Shares of Acelrx are up nearly 7% in after-hours trading Wednesday ACRX has a 1-year high of $5.88 and a 1-year low of $2.40. The stock’s 50-day moving average is $3.38 and its 200-day moving average is $3.30.
On the ratings front, ACRX stock has been the subject of a number of recent research reports. In a report issued on September 7, H.C. Wainwright analyst Ed Arce reiterated a Buy rating on ACRX, with a price target of $7.00, which implies an upside of 115% from current levels. Separately, on August 24, Jefferies’s Eun Yang reiterated a Buy rating on the stock.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Ed Arce and Eun Yang have a total average return of 4.4% and 1.6% respectively. Arce has a success rate of 37% and is ranked #949 out of 4163 analysts, while Yang has a success rate of 59% and is ranked #1171.
The street is mostly Bullish on ACRX stock. Out of 4 analysts who cover the stock, 3 suggest a Buy rating and one recommends to Hold the stock. The 12-month average price target assigned to the stock is $7.00, which represents a potential upside of 115.4% from where the stock is currently trading.
AcelRx Pharmaceuticals, Inc. is a specialty pharmaceutical company that focuses on the development and commercialization of therapies for the treatment of actual pain. Its lead product candidate includes ZalvisoTM intended for the management of moderate-to-severe acute pain in hospitalized adult patients. Zalviso consists of sufentanil sublingual tablets delivered by the Zalviso System, a needle-free, handheld, patient-administered, pain management system. It is designed to address the problems associated with post-operative intravenous patient-controlled analgesia, or IV PCA.