AcelRx Pharma (ACRX): Emergency Physician Survey Bodes Well For ARX-04 - Jefferies

October 4, 2016 7:28 AM EDT
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Price: $2.75 --0%

Rating Summary:
    6 Buy, 4 Hold, 0 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 22 | Down: 32 | New: 34
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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

For an analyst ratings summary and ratings history on AcelRx Pharmaceuticals click here. For more ratings news on AcelRx Pharmaceuticals click here.

Shares of AcelRx Pharmaceuticals closed at $3.80 yesterday.

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