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Pharma stocks lower after Wedbush reiterations

Pacira Pharmaceuticals and Idera Pharmaceuticals reiterated by Wedbush but stocks suffer

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Not a storming day for Walt Disney shares

Pacira Pharmaceuticals (NASDAQ:PCRX) was reiterated an Outperform with share price target of $109 by Wedbush on Monday.

Pacira formally launched EXPAREL for use in oral and maxillofacial surgical procedures on September 21.

“Because early adopter oral surgeons have been wastefully using only 10 ml of the standard 20 ml EXPAREL vial for each oral surgery, Pacira's launch in this indication coincides with the introduction of a 133 mg / 10mL vial of EXPAREL,” the broker said.

“We believe early adopter oral surgeons are enthusiastic about using EXPAREL for opioid-sparing post-surgical pain management but the rank-and-file need more training in proper infiltration technique,” Wedbush added,

Pacira shares were down 4.4% at $35.24 on Monday.

Meanwhile, Idera Pharmaceuticals (NASDAQ:IDRA) was reiterated an Outperform with share price target of $6.00 by Wedbush on Monday.

“Idera reported early clinical data for its immuno-oncology program ahead of schedule; we expect a detailed presentation of translational data at SITC in November. Although small numbers, we believe responses observed in PD-1 refractory patients support the potential of IMO-2125 therapy in combination with checkpoint inhibitors. We have added this program to our valuation and removed the oncology programs for IMO-8400. For IMO-2125, we estimate a $500mln opportunity in melanoma with potential for dramatic upside if efficacy is observed in other tumor types. We recommend shares ahead of SITC data,” the broker said.

Idera shares were down 3.6% to $2.66 on Monday.

It was no laughing matter for entertainments giant Walt Disney (NYSE:DIS). The stock was downgraded to "hold" from "buy" at Drexel Hamilton, with Drexel pointing to financial pressure generated by Disney's deal to renew its coverage of National Basketball Association games.

Walt Disney shares were down 1.7% to $91.67.

Brokers at Oppenheimer downgraded Twitter (NYSE:TWTR) to "underperform" from "perform." On Friday the stock soared on media reports that suitors might be lining up to snap up the micro-blogging site. Oppenheimer feels a likely buyer wouldn't pay much above its $17 price target.

But, after the share price dived 4.5% pre-market, Twitter shares were up 0.9% at $22.82 on Monday.

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