UPDATE: JMP Securities Initiates Coverage On Pacira Pharmaceuticals
In a note released Tuesday Morning, JMP analyst Oren Livnat initiated coverage on Pacira Pharmaceuticals (NASDAQ: PCRX) with a Market Perform rating, but has yet to set a price target.
The main focus of Livnat's note was the successful launch of Exparel, a non-opiod, post-surgical pain injection. He noted that Exparel is on the precipice of profitability in the second half of 2014. Moreover, he said all indications point to continued strong growth.
Livnat is optimistic on the future of Exparel and Pacira Pharmaceuticals and is predicting over $600 million and $5 EPS in 2017, but he believes this is adequately reflected in the stocks current price.
Livant concluded, "In our view, meaningful upside will require Exparel trajectory upside, pipeline advancement, or accretive M&A."
Following the release of the JMP note shares of Parcia Pharmaceuticals are trading up about two percent to ~$85.83.
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