AcelRx (ACRX) Target Lifted at Jefferies
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Price: $0.86 --0%
Rating Summary:
10 Buy, 5 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 6 | New: 26
Rating Summary:
10 Buy, 5 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 6 | New: 26
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AcelRx Pharmaceuticals (NASDAQ: ACRX) is lower Tuesday despite a bullish call at Jefferies.
The firm made numerous model adjustments and raised its price target from $8 to $13 as a results.
Corey Davis comments, "We are making numerous model adjustments as we move closer to an NDA filing for ARX-01 (3Q'13). We raise initial pricing expectations, but temper uptake in the early years. We also increase our terminal value assumptions. Net, net, our peak utilization rate is unchanged (10%), our peak sales estimates in 2025 rise (to $478M from $398M), and our DCF now yields a $13 PT (prior $8)."
FY 2013 EPS estimate goes from ($1.09) to ($1.11) and FY 2014 EPS estiamtes goes from ($0.74) to ($0.87).
The firm notes the 27th analyst day is the next catalyst.
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 are down 3.8 percent to $9.54.
The firm made numerous model adjustments and raised its price target from $8 to $13 as a results.
Corey Davis comments, "We are making numerous model adjustments as we move closer to an NDA filing for ARX-01 (3Q'13). We raise initial pricing expectations, but temper uptake in the early years. We also increase our terminal value assumptions. Net, net, our peak utilization rate is unchanged (10%), our peak sales estimates in 2025 rise (to $478M from $398M), and our DCF now yields a $13 PT (prior $8)."
FY 2013 EPS estimate goes from ($1.09) to ($1.11) and FY 2014 EPS estiamtes goes from ($0.74) to ($0.87).
The firm notes the 27th analyst day is the next catalyst.
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 are down 3.8 percent to $9.54.
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