Stifel Nicolaus analyst Derek Archila upgraded Pacira Pharmaceuticals (PCRX) to Hold today and set a price target of $45. The company’s shares opened today at $44.80.
Archila said:
“We are upgrading shares of PCRX to Hold as we believe the near-term competitive threat from HRTX’s HTX-011 will be less of a factor over the next 12 months and the recent strength in the stock indicates to us that the stock is fairly valued at these levels. While PCRX’s Exparel revenues came in a little shy of 1Q19 consensus, we believe the recent price increase on Exparel, the lack of a competitive entry from HRTX and the favorable reimbursement scheme in the ASC setting should allow PCRX to achieve its 2019 Exparel guidance, in our view. Our revised 2019 Exparel estimates are now at the midpoint of management’s guidance of ~$400-$410 million (vs. consensus of ~$403 million). Additionally, we incorporate PCRX’s recent acquisition, Iovera, into our model and raise our target price to $45 a share.”
According to TipRanks.com, Archila has 0 stars on 0-5 star ranking scale with an average return of -9.6% and a 31.7% success rate. Archila covers the Healthcare sector, focusing on stocks such as DBV Technologies SA – American, Rhythm Pharmaceuticals Inc, and Principia Biopharma Inc.
Currently, the analyst consensus on Pacira Pharmaceuticals is a Hold with an average price target of $49.43.
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The company has a one-year high of $55 and a one-year low of $30. Currently, Pacira Pharmaceuticals has an average volume of 586.5K.
Based on the recent corporate insider activity of 39 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of PCRX in relation to earlier this year.
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Pacira Biosciences, Inc. operates as a holding company, which engages in the development, commercialization, and manufacture of pharmaceutical products for use in postsurgical outcomes for acute care practitioners and their patients.
