Pacira price target lowered to $60 from $66 at BMO Capital

BMO Capital analyst Gary Nachman lowered the firm’s price target on Pacira to $60 from $66 and keeps a Market Perform rating on the shares. The company’s Q3 revenue was just shy of estimates buts its earnings were more pressured by weaker gross margins, the analyst tells investors in a research note. Nachman further cites Pacira management still not being comfortable guiding revenue given market unpredictability as staffing shortages continue limiting procedures and with elective surgeries not back to pre-COVID levels, but he also retains his optimism on the company’s long-term trends with several expansion opportunities.