Truist double downgrades Pacira on imminent generic Exparel launch

Truist double downgraded Pacira BioSciences to Sell from Buy with a price target of $8, down from $30. A generic Exparel launch is imminent within next 12 months, which led Truist to cut 2025 sales estimates by 37% on Pacira’s lead asset, the analyst tells investors in a research note. The firm thinks a court win on appeal to the recent patent ruling is unlikely. It also believes Pacira will face investor concerns regarding credibility and can’t rule out a potential scenario of restructuring and a strategy shift.