Wedbush Securities Believes SH Data Bodes Well For Pacira Pharmaceuticals

In a report published Wednesday, Wedbush Securities analyst Liana Moussatos reiterated an Outperform rating and $127.00 price target on

. In the report, Wedbush Securities noted, "SH data suggests to us that there was a 3.6% month-over-month increase in EXPAREL sales--with a volume of more than 57,000 pack units (versus more than 55,000 in January) and estimated sales of more than $17MM (versus just under $17MM in January). By contrast, SH data suggested significant month-over-month drops in volume for February Marcaine and Bupivacaine HCl volumes. "We remain cautious on using the SH data as an accurate representation for true sales as it has historically captured a wide range (68.5%-108%) of EXPAREL sales with monthly fluctuations--due to the manner in which SH data is collected and audited--particularly on a month-to-month basis. We estimate that there were 19 selling days in February." Pacira Pharmaceuticals closed on Tuesday at $93.60.