JMP Securities analyst Donald Ellis increased his price target on Pacira shares to $63 from $56 after the company reported a Q3 beat and raised its FY18 revenue and margin guidance. Exparel sales continue to accelerate since the nerve block approval, said Ellis, who believes nerve blocks represent an underappreciated opportunity for Pacira. Noting that an Exparel J-Code is expected to start January 1, 2019, Ellis added in his post-earnings research note that he believes that would significantly boost Exparel sales. He maintains an Outperform rating on Pacira.