Pacira price target raised to $47 from $40 at BMO Capital

BMO Capital analyst Gary Nachman raised his price target on Pacira to $47 after its Q3 results topped consensus thanks to “solid Exparel growth and stronger gross margins”. The analyst also notes that the company raised its Exparel sales and gross margin guidance for 2018 along with some positive management commentary regarding its outlook heading into 2019. Nachman keeps his Market Perform rating on Pacira citing his sensitivity to the company’s valuation and the possibility of more competitive dynamics in the future.
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