UPDATE: Jefferies Raises PT on AcelRx Pharmaceuticals on Numerous Potential Catalysts Ahead

In a report published Tuesday, Jefferies analyst Oren G. Livnat reiterated a Buy rating on AcelRx Pharmaceuticals ACRX, and raised the price target from $13.00 to $14.00.

In the report, Jefferies noted, “All previously laid out timelines hold and numerous potential catalysts lie ahead with (1) anticipated NDA submission in the current quarter, (2) data presentations throughout 2H'13, (3) a potential ex-US partnership, (4) EU filing, and (5) pipeline advancement of ARX-04. While we raise pricing/utilization forecasts, our valuation work is still pinned on conservative assumptions. Reiterate Buy; Raise PT to $14.”

AcelRx Pharmaceuticals closed on Monday at $10.82.