UPDATE: Goldman Sachs Starts Pacira Pharmaceuticals (PCRX) at Neutral
- Wall Street flat as telecom gains fail to counter oil drop
- Equinix (EQIX) Announces $3.6B Acquisition of Data Center Portfolio from Verzion (VZ)
- Deal Progress Said to Slow as Johnson & Johnson (JNJ) Puts Actelion (ALIOY) Under Microscope - Source
- Trump Wants to Cancel New Air Force One Order with Boeing (BA)
- Roper Industries (ROP) to acquire Deltek in $2.8B Deal
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.
(Updated - December 1, 2016 10:10 AM EST)
Goldman Sachs initiated coverage on Pacira Pharmaceuticals (NASDAQ: PCRX) with a Neutral rating and a price target of $36. Analyst Stephan Stewart sees balanced risk/reward heading into study data.
"While growth for its only drug, Exparel, continues to decelerate post warning letter resolution, our physician/surgeon survey highlights continued penetration opportunity for the drug. That said, any eventual inflection will be dependent on PCRX’s success across a host of drivers, most notably its ongoing Phase 3 study for a nerve block indication. While we are optimistic that this study will yield positive data – based on previous data – consensus estimates already largely reflect the associated inflection, creating relatively balanced risk/reward at these levels in our view," said the analyst.
Shares of Pacira Pharmaceuticals closed at $31.85 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- UPDATE: Stifel Downgrades PennTex Midstream Partners, LP (PTXP) to Hold
- Imperial Capital Raises Price Target on Eldorado Resorts (ERI) Ahead of Acquisition
- Wedbush Downgrades Select Comfort (SCSS) to Neutral
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS View, New Coverage
Related EntitiesGoldman Sachs
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!