Wedbush Sticks to Their Buy Rating for Pacira Pharmaceuticals

By Austin Angelo

Wedbush analyst Liana Moussatos reiterated a Buy rating on Pacira Pharmaceuticals (NASDAQ: PCRX) on May 24 and set a price target of $87. The company’s shares closed last Friday at $45.15.

According to TipRanks.com, Moussatos is a 4-star analyst with an average return of 8.2% and a 40.8% success rate. Moussatos covers the Healthcare sector, focusing on stocks such as KalVista Pharmaceuticals Inc, Catabasis Pharmaceuticals, and miRagen Therapeutics Inc.

Currently, the analyst consensus on Pacira Pharmaceuticals is Moderate Buy and the average price target is $57.78, representing a 28.0% upside.

In a report issued on May 9, Jefferies also reiterated a Buy rating on the stock with a $60 price target.

Based on Pacira Pharmaceuticals’ latest earnings report for the quarter ending March 31, the company posted quarterly revenue of $69.28 million and GAAP net loss of $19.87 million. In comparison, last year the company earned revenue of $65.47 million and had a GAAP net loss of $3.85 million.

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Pacira Pharmaceuticals, Inc. is a specialty pharmaceutical company. It develops, commercializes, and manufactures pharmaceutical products for use in hospitals and ambulatory surgery centers. It develops pharmaceutical products based on its proprietary DepoFoam drug delivery technology. The company markets EXPAREL, a liposome injection of bupivacaine, an amide-type local anesthetic, indicated for administration into the surgical site to produce postsurgical analgesia; and DepoCyt(e), a liposomal formulation of the chemotherapeutic agent cytarabine indicated for the intrathecal treatment of lymphomatous meningitis, a cancer of the immune system. Its product pipeline comprise EXPAREL that has completed Phase II clinical trials for postsurgical analgesia-nerve block administration; DepoNSAID, which is in preclinical trials for the relief of that is in preclinical trials acute pain; and DepoTXA is currently in pre-clinical development, which is used to treat or prevent excessive blood loss during surgery by promoting hemostasis. Pacira Pharmaceuticals was founded in December 2006 and is headquartered in Parsippany, NJ.