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Fly News Breaks for February 16, 2018
PCRX
Feb 16, 2018 | 07:29 EDT
Canaccord analyst Dewey Steadman noted the FDA panel gave Pacira a negative results for its Exparel nerve block application and he expects the company to receive a Complete Response Letter in April. The analyst believes the FDA will be open to a clinical path to potentially approve the indication in the future, but he thinks the upcoming guidance from the company could be a deck-clearing event. Steadman maintained his Hold rating and lowered his price target to $32 from $42 on Pacira shares.
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