H.C. Wainwright analyst Oren Livnat maintained a Buy rating on Pacira Pharmaceuticals (PCRX) today and set a price target of $60. The company’s shares opened today at $42.16.
Livnat noted:
“We are disappointed in the very weak PCRX stock performance today and attribute it to both “selling-the-news” (the stock was also down over 7% in a flat market after a strong 4Q17 preannouncement last January) as investors now see the next event being a likely approval of competing HTX-011 from Heron (HRTX, not rated) pm its April 30, 2019 PDUFA date, plus new HTX-011 “opioid-sparing” data released today. We see this as a buying opportunity for PCRX shares since we expect momentum to continue into 2019 with unbundled reimbursement (ASP+6%) in the ambulatory surgical center (ASC) setting, a unique a new dental CDT code all effective January 1, plus continued nerve-block uptake. Note that consensus’ $374M 2019 Exparel estimate reflects 13% YoY growth, which we don’t think is a stretch given the above tailwinds.”
According to TipRanks.com, Livnat is ranked 0 out of 5 stars with an average return of -8.8% and a 42.9% success rate. Livnat covers the Healthcare sector, focusing on stocks such as Taiwan Liposome Company Ltd, Zynerba Pharmaceuticals, and Jazz Pharmaceuticals.
Currently, the analyst consensus on Pacira Pharmaceuticals is a Moderate Buy with an average price target of $55.38.
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Based on Pacira Pharmaceuticals’ latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of $640K. In comparison, last year the company had a net profit of $4.6 million.
Based on the recent corporate insider activity of 39 insiders, corporate insider sentiment is neutral on the stock. Most recently, in December 2018, David Stack, the CEO & Chairman of PCRX bought 12,000 shares for a total of $42,600.
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Pacira Pharmaceuticals, Inc. is 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.