Brean Murray Carret & Co. Starts Pacira Pharmaceuticals (PCRX) at Buy, Exparel Could Raise Total Revenue Over $1B

Brean Murray Carret & Co. initiates coverage on shares of Pacira Pharmaceuticals (NASDAQ: PCRX) with a Buy rating and $20 price target.

The firm reports that their price target is "underpinned by a DCF analysis," and is primarily based on the revenue generated by Exparel for the in filtration application and their net cash position.

Exparel's market at max will consist of 40 million surgical opportunities annually in the U.S.. The firm believes that it will start off around 21 million and increase 5 million annually. These predictions suggest that PCRX will generate a total revenue of over $1 billion eventually.

Brean Murray Carret & Co. comments that "Exparel offers patients 72 hours of post-operative pain relief with, up to a 91% reduction in adverse events related to opioids, due to a potential 57% reduction in opioid use. The population that is most prone to opioid adverse events makes up at least 50% of the surgical population and includes the elderly, sleep apnics, obese, opioid intolerant, and the opioid tolerant."

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 $6.85 yesterday.

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• ICICI Securities Resumes Oberoi Realty Ltd (OBER:IN) at Buy (1)
• JPMorgan Assumes salesforce.com (CRM) at Overweight, 'Overblown Concerns'
• Raymond James Starts SpyGlass Pharma (SGP) at Outperform