Pacira (PRCX) Bullish Stance Reiterated at Piper Jaffray on Surgeon Feedback

Piper Jaffray analyst David Amsellem reiterated an Overweight rating and $88 price target on Pacira Pharmaceuticals (NASDAQ: PCRX) as surgeon feedback points to continued strong visibility and exparel growth.

Amsellem comments, "We recently conducted a poll of surgeons with the goal of gauging perceptions surrounding Pacira’s Exparel. The feedback on the product remains favorable in our view, and suggests that there is ample room for continued volume growth. Please ask your PJC salesperson for a copy of a spreadsheet with the full results by surgeon. We continue to believe that visibility on Exparel sales potentially approaching $300M in 2015 (with peak sales well north of $500M in our view) is high, pointing to compelling long-term earnings power (diluted EPS of $4.35 in 2016 on Exparel sales of $438M). That dynamic coupled with the complexities associated with manufacturing the product (i.e., a long asset duration) translates into an attractive risk/reward at a current P/E of 18x our 2016 estimate."

For an analyst ratings summary and ratings history on Pacira Pharmaceuticals click here. For more ratings news on Pacira Pharmaceuticals click here.

Shares of Pacira Pharmaceuticals closed at $77.61 yesterday.

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