NEW YORK (TheStreet) -- Shares of AcelRx Pharmaceuticals(ACRX) - Get Report closed up 9.76% to $3.60 on Thursday afternoon after the company announced that ARX-04, its experimental opioid painkiller candidate, was well-tolerated in a phase III clinical trial.
AcelRx said that the drug proved effective in post-operative patients, as well as those who were elderly or who had organ impairment issues, according to a company statement.
The company plans to submit an application with the FDA to market the drug by year's end.
Roth Capital upped its price target on shares of the Redwood City, CA-based biopharmaceutical company to $15 from $11 following the results, the Fly reports.
About 4.2 million of AcelRx shares traded on Thursday vs. the 30-day average volume of about 252,000 shares.
Separately, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.
TheStreet Ratings rated this stock as a "sell" with a ratings score of D.
The company's weaknesses can be seen in multiple areas, such as its unimpressive growth in net income, disappointing return on equity, generally high debt management risk, generally disappointing historical performance in the stock itself and feeble growth in its earnings per share.
You can view the full analysis from the report here: ACRX