UPDATE: Jefferies Initiates AcelRx Pharmaceuticals with Buy on Expected FDA Approval for ARX-01
In a report published Monday, Jefferies analyst Corey Davis initiated coverage on AcelRx Pharmaceuticals (NASDAQ: ACRX) with a Buy rating and $8.00 price target.
In the report, Davis noted, “We expect FDA approval of ACRX's lead product candidate, ARX-01 (a novel sufentanil nanotab PCA system), in 2014 given the solid body of data from Ph2/initial Ph3 success. We see a clear market opportunity for ARX-01 given the current standard of care for post-op pain control is fraught with drawbacks. We forecast $400M peak potential and little threat of generics. Pipeline and partnerships represent upside to our numbers/valuation.”
AcelRx Pharmaceuticals closed on Friday at $4.90.
Latest Ratings for ACRX
|Sep 2015||H.C. Wainwright||Initiates Coverage on||Buy|
|Apr 2015||Global Hunter||Initiates Coverage on||Accumulate|
© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.