AcelRx Pharmaceuticals Inc (NASDAQ:ACRX) announced that Dr. Shankar Lakshman, a board-certified plastic surgeon and AcelRx clinical investigator, will present a subgroup analysis from the SAP301 study at the annual meeting of the American Society of Plastic Surgeons (ASPS). SAP301 was a Phase 3 trial comparing placebo to ARX-04 (sufentanil sublingual tablet, 30 mcg) in 161 patients with moderate-to-severe acute pain following ambulatory abdominal surgery. Dr. Lakshman’s presentation will focus on the reported activity of ARX-04 observed in the 80 patients who underwent abdominoplasty surgery. This cohort demonstrated statistical significance vs placebo (31.8 vs 17.6; p=0.001) for the primary efficacy endpoint of the summed pain intensity difference to baseline over the 12-hour study period (SPID-12). Nausea, headache and dizziness were the most commonly reported adverse events in patients undergoing abdominoplasty and the rates of occurrence were similar between active and placebo treatment arms. (Original Source)
Shares of Acelrx Pharmaceuticals are up nearly 6% to $3.80 in after-hours trading. 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 $3.29.
On the ratings front, ACRX stock 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 309% 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 1.6% and 32.5% respectively. Higgins has a success rate of 49% and is ranked #1742 out of 4175 analysts, while Arce has a success rate of 45% and is ranked #55.
Overall, one research analyst has assigned a Hold rating and 3 research analysts have given a Buy rating to the stock. When considering if perhaps the stock is under or overvalued, the average price target is $7.00 which is 91% above where the stock opened today.
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.