Janney Montgomery Scott analyst Ken Trbovich attributed Pacira's (PCRX) 10% advance today to news that the Centers for Medicare and Medicaid Services is proposing to unbundle, and therefore pay separately, for non-opioid pain management drugs used in a covered surgery in an ambulatory surgery center. Quantifying the impact is difficult and while a change in the payment system would undoubtedly eliminate some concerns, it does not appear the upside justifies today's move, according to Trbovich. He also thinks any benefit Pacira may see "pales by comparison" to the 2-3 years of coverage Heron Therapeutics' (HRTX) HTX-011 is likely to receive under pass through payment provisions if approved by the FDA next year, said Trbovich. The analyst reiterates his Sell rating on Pacira, even though he thinks the company is likely to raise guidance when it reports earnings before the open on Aug. 2.