Pacira assumed with an Outperform at Wedbush

Wedbush analyst Andreas Argyrides assumed coverage of Pacira a BioSciences with an Outperform rating and price target of $60, down from $88. Pacira is a fully integrated specialty pharmaceutical company developing and commercializing non-opioid pain management therapies, the analyst tells investors in a research note. Amid the backdrop of the ongoing opioid crisis in the U.S., Pacira is leading the transition to better and safer pain management, says the firm. It expects Exparel growth in 2023. but at a more modest mid-single digit percentage range than the mid-teens percentage observed during the pandemic.