Paciraa (PCRX) October Exparel Data Suggests Q4 at Risk - BMO Capital

November 23, 2016 11:07 AM EST
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Price: $40.10 -2.08%

Rating Summary:
    11 Buy, 6 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 30 | Down: 30 | New: 23
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BMO Capital analyst Gary Nachman weighed in on Pacira Pharmaceuticals (NASDAQ: PCRX) after Symphony data were released today and October Exparel sales were $20.2mn, down 12% Y/Y and down 9% M/M. On a sales per selling day basis, Exparel declined 8% Y/Y and 5% M/M. PCRX recently reduced Exparel sales guidance to $263-268mn from $270-280mn along with 3Q results (we're at $263mn).

The October Exparel sales indicate meaningful growth is required for the remainder of 4Q to achieve the guidance. "We believe October is not a great start to 4Q and see a potential challenge in PCRX achieving even the low end of its guidance range," the analyst said.

The firm maintained a Market Perform rating and price target of $35.00

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 $34.35 yesterday.

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