- AcelRx Pharmaceuticals Inc (NASDAQ: ACRX) shares are down 33 percent year-to-date after having peaked at $9.32 on March 2.
- HC Wainwright analyst Ed Arce initiated coverage of the company with a Buy rating and a price target of $8.50.
- Three critical milestones within the next two months are expected to drive the company’s share price performance, Arce said.
Analyst Ed Arce pointed out that AcelRx is a specialty pharmaceutical company focused on acute pain and its lead candidate Zalviso is a “drug device combination that offers patient-controlled analgesia (PCA) via oral transmucosal delivery of Sufentanil.”
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
ENTER TO WIN $500 IN STOCK OR CRYPTO
Enter your email and you'll also get Benzinga's ultimate morning update AND a free $30 gift card and more!
The company’s second candidate ARX-04 has double the dose of Zalviso and is intended to be administered by a healthcare professional.
Arce outlined three important catalysts to watch out for over the next two months: the company’s general advice meeting with the FDA for seeking a regulatory path for Zalviso, formal approval for the marketing of Zalviso in Europe and top line results of ARX-04 pivotal phase 3 trial.
In the report HC Wainwright noted, “[W]e model (85% probability) Zalviso approval in the U.S. in 4Q17, following positive results from another full (~700 patients) Phase 3 trial, and peak U.S. sales of $422M in 2027; commercial launch of Zalviso in the EU beginning in 2Q16 with peak sales of $134M; and U.S. approval (60% probability) of ARX-04 in 3Q17 with peak sales of $131M.”
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.