Truist Securities Upgrades Pacira Pharmaceuticals (PCRX) to Buy

Truist Securities analyst Les Sulewski upgraded Pacira Pharmaceuticals (NASDAQ: PCRX) from Hold to Buy with a price target of $25.00 (from $8.00).

The analyst comments "Post meeting with mgmt + investors, we're now more comfortable around defensibility of Exparel's new patent family. We are now inclined to make a call that mgmt is more likely to settle with eVenus to end its litigation woes and move on. We foresee an exclusivity agreement of ~8 years earmarked to the new LOE of 2044. Thus, we now model generic entry ~2036 (previously 2025). However, mixed KOL commentary from Weill Cornell anesthesiologist around the value proposition of Exparel coupled with diminishing expectations of generic entry that are largely baked into the shares, puts us at HOLD-rated on PCRX. New PT is $25, up from $8.'

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 $26.03 yesterday.

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