Fly News Breaks for November 11, 2019
ACRX
Nov 11, 2019 | 06:41 EDT
Credit Suisse analyst Evan Seigerman downgraded AcelRx Pharmaceuticals to Neutral from Outperform with a price target of $2, down from $7. While the analyst is positive on the drug and market opportunity, he believes Dsuvia will continue to face headwinds in commercialization given the "slower-than-expected uptake." Since receiving FDA approval in November 2018, sales of Dsuvia have underperformed expectations, Seigerman tells investors in a research note. Further, the time to gain formulary access in hospital systems to eventual physician adoption "will be considerable," adds the analyst.
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