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Fly News Breaks for February 1, 2019
HRTX, PCRX
Feb 1, 2019 | 06:09 EDT
Mizuho analyst Irina Koffler downgraded Pacira Pharmaceuticals (PCRX) to Underperform from Neutral and lowered her price target for the shares to $30 from $34. Pacira is a "mature company" that is facing imminent competition from Heron Therapeutics (HRTX), yet the stock trades at a 23 times enterprise value to EBITDA multiple versus 10 times for the more expensive specialty pharma names, Koffler tells investors in a research note. Further, she expects growth from Exparel, Pacira's injectable pain drug, to slow.
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