Jefferies Starts Pacira Pharmaceuticals (PCRX) at Buy, Sees a Near Double

Jefferies initiates coverage on Pacira Pharmaceuticals (NASDAQ: PCRX) with a Buy rating and $18 price target.

The firm comments, "Although investors are sour on new launches, we find tremendous value in Exparel: 1) no competition, 2) unlikely generics, 3) low fixed cost infrastructure and 100% economics, 4) not changing the practice of medicine, and 5) experienced commercial management team. Last, expectations are low, valuation is cheap, and $15M in 2012 sales seems beatable."

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 $9.10 yesterday.

---

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

---

You May Also Be Interested In

• Raymond James Starts SpyGlass Pharma (SGP) at Outperform
• BMO Capital Starts Energy Fuels (UUUU) at Outperform
• JPMorgan Resumes SanDisk (SNDK) at Overweight