PCRX - TD Cowen ups Pacira to outperform sees stock rebounding in 2H

2023-08-03 13:52:10 ET

TD Cowen has upgraded its rating on Pacira Biosciences ( NASDAQ: PCRX ) to outperform, stating that it sees the stock set for a rebound in the latter half of the year amid upcoming catalysts.

The investment bank said it believes the company's mixed Q2 earnings report and lowered fiscal 2023 guidance is already reflected in the shares. It added that it views the stock's risk/reward ratio as "very favorable" and expects certain corporate initiatives and upcoming catalysts to address investor concerns.

TD Cowen noted that the stock was trading at 52-week lows and was largely unchanged after its Q2 results were released early Wednesday, which suggested that "negative sentiment is bottoming out."

"We think that even if some of the catalysts pan out, the stock is set for a rebound," the analysts added in their note released early Thursday.

TD Cowen maintained their price target of $50 on the stock.

More on Pacira:

Pacira BioSciences, Inc. ( PCRX ) Q2 2023 Earnings Call Transcript

Pacira BioSciences reports mixed Q2 earnings; updates FY23 outlook

Pacira Biosciences ( PCRX ) Investor Presentation - Slideshow

Pacira BioSciences: Zilretta Story Still Viable, Productivity The Next Step

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