In a research report released Wednesday, Wedbush analyst Liana Moussatos reiterated an Outperform rating on shares of Pacira Pharmaceuticals Inc (NASDAQ:PCRX) with a price target of $106, as Symphony Health’s EXPAREL volume and sales estimates for July increased month-over-month.
Moussatos noted, “July’s EXPAREL volume was more than 64,700 pack units or 2,944 units per selling day which increased about 1.8% over June. Symphony Health’s estimated WAC$ sales was more than $20.4 million—up from about $20.1 million estimated for June. The July sales estimate is within historical capture rate ranges to be on-track with our Q3 EXPAREL estimate of $57.7 million.”
However, “We remain cautious on using the SH data as an accurate representation for true sales as it has historically captured a wide range (68.5%-108%) of EXPAREL sales–due to the manner in which SH data is collected and audited–particularly on a month-tomonth basis. We estimate that there were 22 selling days in July.”
According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Liana Moussatos has a total average return of 24.8% and a 46.8% success rate. Moussatos has a -8.4% average return when recommending PCRX, and is ranked #52 out of 3740 analysts.
Out of the 9 analysts polled by TipRanks, 7 rate Pacira stock a Buy, 1 rates the stock a Hold and 1 recommends Sell. With a return potential of 60.2%, the stock’s consensus target price stands at $100.63.