H.C. Wainwright analyst Oren Livnat raised his price target for Pacira Pharmaceuticals to $48 after the FDA approved an additional "narrow" nerve block indication for Exparel. The FDA added a specific interscalene brachial plexus block indication for regional anesthesia, effectively an indication for shoulder replacement or rotator cuff repair, Livnat tells investors in a research note. While a broad general nerve block indication would have been best case, and Pacira has to be careful not to promote off-label, this is still an "important positive," the analyst contends. He reiterates a Buy rating on Pacira shares.