Brean Capital Assigns Buy On Pacira Following 3Q14 Results


Brean Capital analyst Jonathan Aschoff assigned a Buy rating on Pacira (NASDAQ:PCRX) with a price target of $111, following the company’s third quarter update.

Aschoff wrote, “The number of orthopedic surgeries may have decreased in 3Q14, but they are usually elective in nature and therefore tend to be more seasonally impacted, and Pacira still met revenue consensus. Exparel infiltration still represents only 2% of the addressable market of about 40 million procedures, still leaving much room for growth. As for the FDA warning letter received in September, Pacira has seen no change in surgeons’ perception of Exparel. Negative reports came almost entirely from pharmacies but were inaccurate, claiming for example that Exparel has a black box warning or some other misleading safety-related issue. While US approval can lead to a shortened regulatory pathway in territories such as Latin America and Canada, Europe and Japan are more difficult markets to penetrate due to reimbursement and additional clinical requirements, respectively, and thus any ex-US activity would likely target outside of Europe and Japan.”

According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Jonathan Aschoff has a total average return of 12.2% and a 62.1% success rate. Aschoff has a 44.3% average return when recommending PCRX, and is ranked #188 out of 3354 analysts.

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