Wedbush Starts Pacira Pharmaceuticals (PCRX) at Outperform, Believes Exparel Will Be Key Driver For Growth
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Price: $23.30 +1.30%
Rating Summary:
12 Buy, 15 Hold, 2 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 12 | Down: 21 | New: 20
Rating Summary:
12 Buy, 15 Hold, 2 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 12 | Down: 21 | New: 20
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Wedbush initiates coverage on shares of Pacira Pharmaceuticals (NASDAQ: PCRX) with an Outperform rating and $19 fair value estimate.
The firm predicts that the main driver for the company will be Exparel, which they anticipate will be launched in the 4Q11. Wedbush estimates that Exparel will experience gross peak sales of $576 million worldwide and $362 million in the U.S.. They comment that, "We believe Exparel’s longacting analgesic effect, which results in decreased opioid consumption, addresses a clinical need in the approximately 24 million infiltration procedures performed annually in the US."
With CEO David Stack already having the experience of releasing a drug into the market, the firm states that they are a lot more comfortable with the release of Exparel. He was formerly CEO of The Medicines Company when they successfully launched the commercialization of Angiomax.
Wedbush set their 2011 EPS and revenue estimates at ($1.98) and $21 million and at ($1.92) and $44.4 million for 2012.
For more ratings news on Pacira Pharmaceuticals click here and for the rating history of Pacira Pharmaceuticals click here.
Shares of Pacira Pharmaceuticals closed at $6.87 yesterday.
The firm predicts that the main driver for the company will be Exparel, which they anticipate will be launched in the 4Q11. Wedbush estimates that Exparel will experience gross peak sales of $576 million worldwide and $362 million in the U.S.. They comment that, "We believe Exparel’s longacting analgesic effect, which results in decreased opioid consumption, addresses a clinical need in the approximately 24 million infiltration procedures performed annually in the US."
With CEO David Stack already having the experience of releasing a drug into the market, the firm states that they are a lot more comfortable with the release of Exparel. He was formerly CEO of The Medicines Company when they successfully launched the commercialization of Angiomax.
Wedbush set their 2011 EPS and revenue estimates at ($1.98) and $21 million and at ($1.92) and $44.4 million for 2012.
For more ratings news on Pacira Pharmaceuticals click here and for the rating history of Pacira Pharmaceuticals click here.
Shares of Pacira Pharmaceuticals closed at $6.87 yesterday.
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