Pacira Pharma (PCRX): Cutting Estimates On EXPAREL Data - Wedbush
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Wedbush analyst, Liana Moussatos, cut her price target on Pacira Pharmaceuticals (NASDAQ: PCRX) to $93 from $109 after the Symphony Health Q3 EXPAREL estimate came in ~4% below consensus leading the analyst to cut estimates.
The new 12-month price target is calculated based on sum-of-parts for each drug/indication combination using a 30% annual discount from peak annual revenue projections and 1-10x multiple, depending on stage of development to reflect risk.
No change to the Outperform rating.
Shares of Pacira Pharmaceuticals closed at $34.65 yesterday.
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