Raymond James downgraded Pacira BioSciences to Market Perform from Outperform without a price target following a negative ruling on the first patent decision for Exparel. The firm is are “disappointed” that the ruling came back invalidating the ‘495 patent, which it says creates a lot more uncertainty regarding the outlook for Exparel going forward. All the uncertainties on how this will play out it will likely be difficult for investors to own this stock for some time, the analyst tells investors in a research note.
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