Stock Update (NASDAQ:ACRX): New Study of AcelRx Pharmaceuticals Inc Reveals Cost of Initial IV Opioid Dose in the Emergency Department for the Treatment of Acute Pain Exceeds $140
AcelRx Pharmaceuticals Inc (NASDAQ:ACRX) reported that the Company will be presenting an evaluation of the cost of delivering IV opioids in the emergency department for the treatment of acute pain. Based on an analysis of over 7 million patients who received IV opioids in 614 US emergency departments, it was found that the cost of administering an initial IV opioid dose ranges from $143 for morphine to $145 for fentanyl. This analysis will be presented at the 21stannual meeting of the International Society for Pharmacoeconomics and Outcomes Research (ISPOR), which is being held May 21-25, 2016 in Washington, DC. The study was sponsored by AcelRx Pharmaceuticals, Inc.
“The cost of materials and labor, excluding the cost of the opioid, to establish an IV line to administer an opioid is almost 95% of the total cost, which is a substantial spend when you consider the number of patients visiting ERs annually,” commented Dr. Pamela Palmer, AcelRx’s chief medical officer and co-founder. “We believe that the development of a rapidly absorbed, non-invasive analgesic for emergency department use could be advantageous from both a cost and patient-benefit standpoint. We are developing ARX-04, our proprietary sufentanil sublingual 30 mcg tablet, for the treatment of moderate-to-severe acute pain designed to help address the time and cost of setting up an IV line as well as the other complications often associated with IV lines. We anticipate completing our clinical program and filing for regulatory approval later this year.” (Original Source)
Shares of Acelrx closed yesterday at $3.31, up $0.10 or 3.12%. ACRX has a 1-year high of $5.88 and a 1-year low of $2.59. The stock’s 50-day moving average is $3.41 and its 200-day moving average is $3.80.
On the ratings front, Acelrx has been the subject of a number of recent research reports. In a report issued on May 3, H.C. Wainwright analyst Ed Arce reiterated a Buy rating on ACRX. Separately, on May 2, Cowen’s Boris Peaker reiterated a Hold 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 Boris Peaker have a total average return of 7.7% and 9.4% respectively. Arce has a success rate of 33.3% and is ranked #544 out of 3842 analysts, while Peaker has a success rate of 41.5% and is ranked #311.