J.P. Morgan raises Pacira Biosciences PT on delayed generic competition for pain drug

Pacira Biosciences

19/02/2025 16:47

** J.P. Morgan raises PT on drugmaker maker Pacira
Biosciences  PCRX.O  to $21 from $11
    ** New PT represents a 20.6% downside to the stocks's last
close 
    ** Says it maintains its "underweight" rating, increasing
its PT "primarily reflecting later generic entry"
    ** Brokerage says co's current share price of ~$26 implies
that the market is assuming generic entry for co's pain
management drug, Exparel in 2035+, which it considers a "highly
optimistic scenario" for PCRX and underestimates "competitive
risk"
    ** Says "assume a more balanced outcome with market entry
late this decade"
    ** Co's lead drug Exparel is a pain-management drug used
after surgery
    ** Stock has fallen 11.4% in the last 12 months     
    

 (Reporting by Padmanabhan Ananthan)
 ((Padmanabhan.Ananthan@thomsonreuters.com;))