Wedbush Remains Bullish on Pacira Pharma (PCRX) as Symphony Health's EXPAREL Estimates Track In-Line

Wedbush reiterated an Outperform rating and $113.00 price target on Pacira Pharmaceuticals (NASDAQ: PCRX) as Symphony Health's February EXPAREL estimates are tracking in line with Q1 consensus.

Analyst Liana Moussatos commented, "The Symphony Health (SH) estimate for EXPAREL in February increased 10% month-over-month and together with January is tracking in line with Q1 consensus. Management previously guided that Q1 EXPAREL sales are likely to be flat to slightly down compared to Q4:15 ($67.2 million preannounced) versus $64.6 million consensus for Q1. Symphony Health sales and volume estimates for February were more than $21 million (WAC$) and over 68 thousand pack units. The January and February sales estimates for EXPAREL are tracking within historical capture rates of 97%-100% versus our consensus equivalents ($20.1 million for January and $21.18 million for February). Other pain drugs we track increased between 1% and 8% month-over-month in February versus an increase of 10% for EXPAREL. We count 19 selling days in January and 20 in February."

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 $50.09 yesterday.

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