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Fly News Breaks for March 23, 2017
PCRX
Mar 23, 2017 | 08:37 EDT
Symphony Health prescription data, which has historically been well correlated with Pacira's reported revenues for Exparel, show "no evidence" that the drug's outlook has improved in Q1 from the single-digit growth it showed in the second half of 2016, according to Janney Capital's Ken Trbovich. The benefit of new data in knee replacement surgery and a new collaboration with a large hospital chain "clearly" will take time to show up in Exparel's performance, added Trbovich who maintains a Sell rating and $38 fair value estimate on Pacira shares.
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