Piper Jaffray Has Thoughts On Alexza Pharmaceuticals (ALXA)

Piper Jaffray discusses Alexza Pharmaceuticals, Inc.

, which is going to find out whether AZ-004 will be approved on October 11. It has a $3.50 price target, and a Overweight rating on shares. In the research report, Piper Jaffray writes, "With a U.S. partner and sufficient cash to launch AZ-004 (Staccato loxapine), the main focus for Alexza is next week's October 11th PDUFA date. We do anticipate approval of AZ-004 and see respiratory safety as the primary question mark. Shares of ALXA are approaching our price target and we begin to focus on launch expectations to determine near-term performance." Shares of ALXA closed at $3.15 on Friday, down 2 cents.