Pacira downgraded to Equal Weight from Overweight at Barclays

Barclays downgraded Pacira BioSciences to Equal Weight from Overweight with a price target of $25, down from $38. The “surprise” generic Exparel approval “diminishes the halo of impenetrability” around the drug, the analyst tells investors in a research note. The firm says that while the trial opinion is awaited, it sees a “persistent overhang” on Pacira across diff scenarios with Exparel longevity a common concern. While additional patents currently exist to protect Exparel, it is reasonable to assume that sooner or later these patents are likely to be challenged too, with frequent headline risks casting a prolonged overhang on the stock, says Barclays.