Jefferies Assumes AcelRx Pharmaceuticals (ACRX) at Buy

Jefferies assumes coverage on AcelRx Pharmaceuticals (NASDAQ: ACRX) with a Buy rating and a price target of $17.00 (from $15.00).

Analyst Biren Amin said, "We expect FDA approval of Zalviso, a treatment for moderate to severe pain in post-surgical patients, on its PDUFA Jul 27 based on a comprehensive PIII data package. Zalviso has clear advantages over standard-of-care IV PCA, which we believe will drive adoption. Based on conservative assumptions, we estimate U.S. peak sales of $506M (risk-adjusted)."

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 $11.32 yesterday.

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