UPDATE: Jefferies & Company Reiterates Buy Rating, Raises PT on Pacira Pharmaceuticals

In a report published Friday, Jefferies & Company reiterated its Buy rating on Pacira Pharmaceuticals (NASDAQ: PCRX ), and raised its price target from $22.00 to $24.00. Jefferies noted, “PCRX completed a strong round of financing ($110M ‘convert' at favorable terms) removing a financing overhang – we had modeled cash