Pacira Pharma (PCRX): Cutting Estimates - Jefferies
- Wall St. set to rise ahead of Trump inauguration
- General Electric (GE) Reports In-Line Q4 EPS
- Procter & Gamble (PG) Tops Q2 EPS by 2c
- Bristol-Myers Squibb (BMY) Says It Won't Pursue Accelerated U.S. Regulatory Pathway for Opdivo Plus Yervoy in Lung Cancer
- Dollar recoups losses, caution sets in ahead of Trump inauguration
Find out which companies are about to raise their dividend well before the news hits the Street with StreetInsider.com's Dividend Insider Elite. Sign-up for a FREE trial here.
Jefferies analyst, David Steinberg, reiterated Buy rating on shares of Pacira Pharmaceuticals (NASDAQ: PCRX) but cut his price target to $60.00 from $74.00. He attended the AAOMS meeting late last week and came away encouraged about the outlook for the use of Exparel in the oral surgery market but based on the monthly Symphony health data, Exparel's near term growth is slower than expected.
Exparel was recently launched into the oral surgery market (35M annual procedures) representing a large opportunity. Presenting KOLs highlighted the key attributes of reducing severe post-op pain, pre-op anxiety, and postop narcotics, particularly in teenagers.
Q3 & Q4 Exparel revs drop by $3M each to $63M and $72M. For FY17 Exparel revs drop by 9% to $328M, still a significant reacceleration in growth of 24% Y/Y.
Shares of Pacira Pharmaceuticals closed at $36.86 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- J.B. Hunt Transport Services (JBHT) PT Lowered to $99 at UBS Following 4Q EPS Miss
- UPDATE: SunTrust Robinson Humphrey Downgrades Pennsylvania Real Estate Investment Trust (PEI) to Hold
- J.B. Hunt Transport Services (JBHT) PT Raised to $102 at Credit Suisse After Adjusting Estimates
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst PT Change
Related EntitiesJefferies & Co
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!