TD Cowen upgraded Pacira to Outperform from Market Perform with an unchanged price target of $50. The company missed revenue and margins estimates and lowered fiscal 2023 guidance, but this is already captured in the valuation, the analyst tells investors in a research note. The firm believes the company has multiple initiatives and catalysts aimed at addressing the issues. At the current negative sentiment, the shares offer a “very favorable risk/reward,” says Cowen.
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