AcelRx Pharmaceuticals Inc (NASDAQ:ACRX) announced that the Company and investigators will be presenting two e-posters at the European Congress on Emergency Medicine (ECEM), which is being held October 1-5, 2016 in Vienna, Austria.
The first presentation summarizes the safety and efficacy findings from the Phase 3 SAP302 study of ARX-04 (sufentanil sublingual tablet, 30 mcg) in patients who were admitted to the emergency department with an injury or trauma associated with moderate-to-severe acute pain. Results from this trial showed substantial reductions in pain intensity (mean 2.9 out of 10 on a validated pain scale) within the first hour among the 76 patients treated with ARX-04. The second e-poster provides insights into the direct and indirect (labor, pharmacy, etc.) costs associated with the administration of intravenous (IV) opioids. Based on an analysis of over 600 hospitals, AcelRx has determined that an initial IV dose of an opioid, such as morphine, hydromorphone and fentanyl, ranges from $143 to $145 in U.S. emergency departments. (Original Source)
Shares of Acelrx Pharmaceuticals closed yesterday at $3.85, up $0.23 or 6.35%. 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 $3.41 and its 200-day moving average is $3.28.
On the ratings front, ACRX has been the subject of a number of recent research reports. In a report issued on September 15, Roth Capital analyst Michael Higgins reiterated a Buy rating on ACRX, with a price target of $15.00, which implies an upside of 290% from current levels. Separately, on the same day, H.C. Wainwright’s Ed Arce reiterated a Buy rating on the stock and has a price target of $7.00.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Michael Higgins and Ed Arce have a total average return of -8.6% and 35.5% respectively. Higgins has a success rate of 44% and is ranked #3869 out of 4185 analysts, while Arce has a success rate of 51% and is ranked #37.
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 81.8% 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.