AcelRx Pharma (ACRX): Emergency Physician Survey Bodes Well For ARX-04 - Jefferies
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Jefferies analyst, Hugo Ong, reiterated his Buy rating for AcelRx Pharmaceuticals (NASDAQ: ACRX), after conducting a proprietary Emergency Dept physician survey on trends for acute pain in the ED to gauge the outlook for ARX-04, which could be available by YE'17. Physicians had a bright outlook citing expected ARX-04 use on par with IV morphine for moderate pain (~19%), and exceeded it in severe pain (~27%) for '18. The analyst believes the results bode well for ARX-04 in 2018.
The majority of ED physicians see ARX-04 as appropriate in a variety of situations. The anlayst asked respondents what situations were most appropriate for ARX-04, and presented them with a variety of injuries/conditions. The top conditions included: physical trauma (i.e. bone fractures, etc.; ~76%), 2nd/3rd-degree burns (~84%), sickle-cell crisis (~88%), endstage cancer pain (~96%), and kidney stones (~76%). Nearly all (~96%) physicians believed that the ED following evaluation or during a procedure was appropriate for ARX-04.
No change to the price target of $7.00
Shares of AcelRx Pharmaceuticals closed at $3.80 yesterday.
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