UPDATE: Goldman Sachs Starts Pacira Pharmaceuticals (PCRX) at Neutral

December 1, 2016 6:31 AM EST
Get Alerts PCRX Hot Sheet
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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(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.

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 $31.85 yesterday.

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