Equities researchers at Wedbush lifted their target price on shares of Pacira Pharmaceuticals (NASDAQ: PCRX) to $32.00 in a report issued on Thursday.

The analysts wrote, “As already preannounced, PCRX reported Q4 EXPAREL sales of $7.8MM, ahead of our original $7.0MM estimate. Q4 total revenues were $10.5MM and GAAP EPS loss was ($0.50) versus our ($0.32) and Street’s ($0.42) estimates. The company ended Q4 with about $42.6MM in cash and including proceeds from the January convertible debt offering, we estimate current cash of about $123MM. We project runway well into potential profitability, which we model to occur in 2014.”

Pacira Pharmaceuticals traded up 0.69% on Thursday, hitting $26.10. Pacira Pharmaceuticals has a 52-week low of $9.60 and a 52-week high of $26.38. The stock’s 50-day moving average is currently $20.61. The company’s market cap is $849.6 million.

Other equities research analysts have also recently issued reports about the stock. Analysts at Barclays Capital raised their price target on shares of Pacira Pharmaceuticals from $19.00 to $26.00 in a research note to investors on Monday, February 4th. They now have an “overweight” rating on the stock. Separately, analysts at Piper Jaffray raised their price target on shares of Pacira Pharmaceuticals to $27.00 in a research note to investors on Monday, January 28th. Finally, analysts at Jefferies Group raised their price target on shares of Pacira Pharmaceuticals from $22.00 to $24.00 in a research note to investors on Friday, January 18th. They now have a “buy” rating on the stock.

Pacira Pharmaceuticals, Inc. (Pacira), formerly Pacira, Inc., is the holding company for the Company’s California operating subsidiary of the same name, which it refers to as PPI-California.

Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.