Needham lowered the firm’s price target on Pacira to $45 from $52 and keeps a Buy rating on the shares. The company’s Q3 results showed that Exparel’s struggles continued in the quarter with sales of $128.7M down 5% sequentially and missing consensus of $138M, the analyst tells investors in a research note. For the second quarter in a row, Pacira adjusted its 2023 Exparel sales guidance down, the firm added.
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Read More on PCRX:
- Pacira BioSciences Reports Third Quarter 2023 Financial Results
- Pacira lowers FY23 EXPAREL product sale view to $535M-$540M from $550M-$560M
- Pacira reports Q3 adjusted EPS 72c, consensus 79c
- PCRX Earnings Report this Week: Is It a Buy, Ahead of Earnings?
- Pacira price target lowered to $57 from $60 at Barclays
