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Fly News Breaks for May 3, 2018
May 3, 2018 | 12:52 EDT
Pacira Pharmaceuticals this morning posted solid Q1 Exparel sales of $74M, just ahead of the Street's $73.1M estimate and up over 9% year-on-year, H.C. Wainwright analyst Oren Livnat tells investors in a research note. He found it important that management highlighted strong intra-quarter growth trends with 6% growth in January accelerating to 15% in March. The analyst believes, however, that investors are concerned with no Exparel guidance increase and "confusing potential near-term Exparel reimbursement developments, or lack thereof." Livnat believes management is being conservative with the outlook and reiterates a Buy rating on Pacira with a $48 price target. The stock in midday trading is down 4% to $32.95.
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