Pacira Pharmaceuticals Inc (NASDAQ:PCRX) announced the appointment of Robert Weiland to the position of Chief Commercial Officer. Mr. Weiland will be responsible for oversight of the commercial activities for EXPAREL® (bupivacaine liposome injectable suspension), which include marketing, sales, national accounts, training and commercial operations and analytics. Mr. Weiland will report to Jim Scibetta, President and Chief Financial Officer.
“Bob has demonstrated success in building and leading organizations in both biotech and large pharmaceutical firms, and is a powerful addition to the company’s management team,” said Mr. Scibetta. “He has a proven track record of commercializing pharmaceutical products into successful brands, and has significant commercial experience in the surgical suite.”
Prior to joining Pacira, Mr. Weiland held several management roles during a six-year period at Baxter International. Most recently, he was Vice President, Strategy, responsible for leading a multifunctional, global team to rebuild and launch the commercial go-to-market strategy and business model. During his tenure at Baxter, Mr. Weiland also served as Vice President, Corporate Development, responsible for identifying acquisitions or external licensing growth opportunities, and he served as Vice President, Strategy and Portfolio Planning. Prior to Baxter, Mr. Weiland served as Vice President, Commercial Operations and Strategic Analytics, at Takeda Pharmaceuticals. He also spent 14 years atAbbott Laboratories, where he directed marketing and business development strategies to support the Diabetes and Metabolics Franchise, Cardiovascular Business Unit and theGlobal Pharmaceutical Products Group. He has an MBA from The Wharton School of theUniversity of Pennsylvania.
“I am pleased to join the Pacira management team, which not only has established a strong foundation for the continued commercial success of EXPAREL, but is also developing robust pipeline opportunities leveraging the company’s proprietary DepoFoam® platform,” said Mr. Weiland. “I look forward to contributing to the corporate vision of providing a non-opioid option like EXPAREL to as many patients as appropriate, and to advancing patient care through the development and commercialization of innovative products for the acute care and hospital environment.” (Original Source)
Shares of Pacira closed yesterday at $55.51, up $1.17 or 2.15%. PCRX has a 1-year high of $93.22 and a 1-year low of $35.78. The stock’s 50-day moving average is $53.40 and its 200-day moving average is $57.15.
On the ratings front, Pacira has been the subject of a number of recent research reports. In a report issued on March 23, Wedbush analyst Liana Moussatos reiterated a Buy rating on PCRX, with a price target of $113, which represents a potential upside of 103.6% from where the stock is currently trading. Separately, on February 29, Canaccord Genuity’s Corey Davis maintained a Buy rating on the stock and has a price target of $75.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Liana Moussatos and Corey Davis have a total average return of 5.4% and -3.6% respectively. Moussatos has a success rate of 36.9% and is ranked #522 out of 3777 analysts, while Davis has a success rate of 37.0% and is ranked #3357.
Overall, one research analyst has assigned a Hold rating and 6 research analysts have given a Buy rating to the stock. When considering if perhaps the stock is under or overvalued, the average price target is $94.00 which is 69.3% above where the stock closed yesterday.
Pacira Pharmaceuticals, Inc. is a specialty pharmaceutical company. It develops, commercializes, and manufactures pharmaceutical products for use in hospitals and ambulatory surgery centers. It develops pharmaceutical products based on its proprietary DepoFoam drug delivery technology.