NEW YORK (TheStreet) -- Jefferies lowered its price target on Pacira Pharmaceuticals (PCRX) - Get Report stock to $74 from $86 and maintained its "buy" rating.

The Parsippany, NJ-based specialty pharmaceutical company is focused on the development, commercialization and manufacture of pharmaceutical products, based on its DepoFoam drug delivery technology, primarily for use in hospitals and ambulatory surgery centers.

The reduced price target comes after Pacira posted its 2015 fourth quarter results yesterday.

The company reported earnings of 20 cents per diluted share, which missed analysts' expectations of 27 cents per share. Revenue for the period was $69.3 million, beating Wall Street's projections of $68.4 million.

"Overall, management seemed more upbeat given recent positive customer feedback post the Warning Letter resolution. And with the oral surgery program delivering mostly as expected, we believe revenue/EPS growth could significantly reaccelerate in 2H16," Jefferies said in an analyst note.

Earlier this month, Pacira announced the resolution of a September warning letter with the U.S. Food and Drug Administration's Office of Prescription Drug Promotion regarding certain promotional aspects of its exparel injection treatment.

Shares of Pacira are lower by 1.43% to $56.44 at the start of trading on Friday.

Separately, TheStreet Ratings Team has a "Hold" rating with a score of C on the stock.

The primary factors that have impacted the rating are mixed - some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks.

The company's strengths can be seen in multiple areas, such as its robust revenue growth, largely solid financial position with reasonable debt levels by most measures and impressive record of earnings per share growth.

As a counter to these strengths, the team also finds weaknesses including a generally disappointing performance in the stock itself and weak operating cash flow.

Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.

You can view the full analysis from the report here: PCRX

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