BMO Capital analyst Gary Nachman raised his price target on Pacira to $34 from $31, citing Friday's announcement of FDA approval of an upper extremity nerve block indication for Exparel on the PDUFA. Nachman says this was a "surprising outcome" given a negative panel decision in February, but adds that the indication is also narrow in that it is "limited to an intrascalene brachial plexus block". The analyst keeps his Market Perform rating on Pacira, stating that while Exparel is a " solid product for post-surgical pain, further penetration is challenging and consensus expectations remain high".