BofA/Merrill Lynch downgraded Pacira Pharmaceuticals (NASDAQ: PCRX) from Neutral to Underperform with a price target of $110.00 (from $112.00).

Analyst Steve Byrne said high expectations are priced in, with more potential to miss than to exceed views.

The firm lowered FY 2015 EPS from $2.53 to $2.14 and FY 2016 EPS from $6.43 to $5.70.

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 $119.27 yesterday.