Pacira Pharmaceuticals (PCRX) PT Lowered to $37 at RBC Capital
RBC Capital analyst Daniel Busb lowered the price target on Pacira Pharmaceuticals (NASDAQ: PCRX) to $37.00 (from $42.00) while maintaining a Outperform rating.
The analyst comments "While PCRX continues to execute on delivering positive Exparel numbers through 1H, focus remains squarely on ongoing patent litigation v. eVenus, with court decision likely to come 8/1. Risks of generic disruption continue to drive the narrative for PCRX, though we note key drivers for Exparel as intact; growth in LENB, NOPAIN ahead in 2025, and GPO contracting serve as tailwinds through an important reset year. While mgmt's proactive approach and messaging towards generic risks leaves concerns as somewhat addressed, the proof is in the judge opinion this week, and a series of patent suits likely to follow. We update our model to reflect the balance of pending risk into the decision with the glimmer of growth for Exparel as a key post-surgical, non-opioid pain option, adjusting our PT to $37 (from $42), while maintaining our Outperform rating."