Pacira Pharmaceuticals (PCRX) PT Raised to $84 at Needham & Company

Needham & Company analyst Serge Belanger raised the price target on Pacira Pharmaceuticals (NASDAQ: PCRX) to $84.00 (from $80.00) while maintaining a Buy rating.

The analyst commented, "Last week, PCRX announced the acquisition of Flexion Therapeutics, which adds a highly complementary asset in Zilretta, reported 3Q21 prelim sales and hosted an Investor Day to highlight the important role Exparel is currently playing in changing the post-op pain management paradigm and the significant growth opportunities for both Exparel and iovera. The addition of Zilretta diversifies PCRX's revenue base with an OA knee pain product that has the same call point (orthopedic surgeons) as iovera. Once the transaction closes in late-4Q21, Zilretta will add a growth revenue stream (2021 sales of $100MM-$120MM) making the FLXN transaction accretive to earnings as soon as 2022. We maintain our Buy rating, and adjust our PT to $84 (from $80) to reflect the inclusion of Zilretta in our model."

You May Also Be Interested In

• Morgan Stanley Starts Amplifon SpA (AMP:IM) (AMFPF) at Overweight
• Dell (DELL) PT Raised to $575 at Evercore ISI
• Goldman Sachs Downgrades Societe Generale SA (GLE:FP) (SCGLY) to Neutral