H.C. Wainwright Remains a Buy on Pacira Pharmaceuticals (PCRX)


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.

See today’s analyst top recommended stocks >>

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.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

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.

Stay Ahead of Everyone Else

Get The Latest Stock News Alerts