Strong October for Pacira Pharmaceuticals (PCRX) EXPAREL Brings Targets Back to Guidance - Wedbush

Wedbush analyst, Liana Moussatos, noted that the Symphony Health estimate for Pacira Pharmaceuticals' (NASDAQ: PCRX) EXPAREL sales in October jumped 22% month-over-month. This is in-line with Management’s expectations that Q4 EXPAREL sales are likely to be higher than Q2 ($56.9 million) or Q3 ($59.7 million).

Symphony Health estimates for EXPAREL sales has historically captured a wide range (68.5%-108%) of EXPAREL sales--due to the manner in which SH data is collected and audited--particularly on a month-to-month basis. Symphony Health estimates for EXPAREL sales has historically captured a wide range (68.5%-108%) of EXPAREL sales--due to the manner in which SH data is collected and audited--particularly on a month-to-month basis.

On September 8, 2015 Pacira announced a lawsuit against the FDA for inappropriately restricting promotion of EXPAREL. On October 19th it was reported in the media that the original warning letter had been removed from the fda.gov website and with the deadline for the FDA to provide a formal response to the lawsuit extended to November 16th from October 26th (and another extension is likely to December 24th), investors have been speculating that a positive outcome may occur soon.

No change to Outperform rating and $113 twelve-month price target.

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 $61.14 yesterday.

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