Piper Sandler analyst David Amsellem lowered the firm’s price target on Pacira to $50 from $60 and keeps an Overweight rating on the shares. The company’s Q2 revenue missed consensus, Exparel sales were down, and the company lowered its FY23 Exparel sales guidance as well as its non-GAAP gross margin guidance range, the analyst tells investors. Despite this, the firm maintains a positive stance on the stock because of Exparel’s unique durability profile, the manufacturing challenges are fixable, and the pathway to a more careful approach to spend is “plain to see,” the firm say.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See Insiders’ Hot Stocks on TipRanks >>
Read More on PCRX:
- Qualcomm downgraded, Wingstop upgraded: Wall Street’s top analyst calls
- Pacira price target lowered to $52 from $60 at Needham
- Pacira price target lowered to $55 from $60 at Truist
- Pacira price target lowered to $63 from $68 at H.C. Wainwright
- Pacira upgraded to Outperform from Market Perform at TD Cowen