Canaccord Genuity Assumes AcelRx Pharmaceuticals (ACRX) at Buy, Catalyst-Heavy

October 10, 2012 9:04 AM EDT
Get Alerts ACRX Hot Sheet
Price: $2.60 -1.89%

Rating Summary:
    6 Buy, 4 Hold, 0 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 24 | Down: 17 | New: 14
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Canaccord Genuity assumes coverage on AcelRx Pharmaceuticals (NASDAQ: ACRX) with a Buy. PT $8.00.

"We’re assuming coverage of AcelRx (ACRX) and setting a price target of $8 ahead of key data that could boost confidence in lead drug ARX-01 for post-operative analgesia using the company’s transmucosal sufentanil-based drug device therapy," analyst Randall Stanicky said. "Market potential is sizable and we like the risk/reward, for those with risk appetite, ahead of important year-end data. Focus on the Phase III data comparator data to IV PCA morphine, the current standard of care, as the key catalyst which we expect over the next month or so."

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 $3.09 yesterday.

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