ACRX (Mcap $54 M) 3x DRUGS IN PHASE 3 // RESULTS THIS MONTH =5 BAGGER EASILY !!!
BUY RATING WITH $8 PRICE TARGET
AcelRx Pharmaceuticals (ACRX) had its coverage initiated by Canaccord Genuity, who rated the company a Buy at current levels and set an $8.00/share price target. The Redwood City, California-based company is "a development stage specialty pharmaceutical company, focuses on the development and commercialization of therapies for the treatment of acute and breakthrough pain. The company is developing its lead product candidate, ARX-01, which is a Sufentanil NanoTab PCA system that is in Phase III clinical trials for acute post-operative pain".
Analysts at Canaccord recently noted ""We're assuming coverage of AcelRx 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." If the company can present positive year-end data in terms of both earnings and clinical data we could see some very significant upside.