Janney Montgomery Scott set a $27.00 price target on Pacira Pharmaceuticals, Inc. (NASDAQ:PCRX) in a research note issued to investors on Thursday morning. The brokerage currently has a sell rating on the stock.
Other equities research analysts have also recently issued reports about the company. Zacks Investment Research cut Pacira Pharmaceuticals from a buy rating to a hold rating in a research note on Monday, October 9th. Canaccord Genuity reaffirmed a buy rating and set a $44.00 price objective (down from $48.00) on shares of Pacira Pharmaceuticals in a research note on Sunday, October 1st. CIBC assumed coverage on Pacira Pharmaceuticals in a research note on Thursday, September 7th. They set a market perform rating for the company. Wedbush reaffirmed an outperform rating and set a $87.00 price objective on shares of Pacira Pharmaceuticals in a research note on Wednesday, October 25th. Finally, Needham & Company LLC reaffirmed a buy rating on shares of Pacira Pharmaceuticals in a research note on Tuesday, September 26th. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have given a buy rating to the company. The company has an average rating of Hold and an average price target of $49.71.
Pacira Pharmaceuticals (PCRX) traded up $0.75 during midday trading on Thursday, hitting $40.25. The stock had a trading volume of 710,957 shares, compared to its average volume of 843,788. Pacira Pharmaceuticals has a one year low of $29.81 and a one year high of $58.95. The company has a quick ratio of 6.24, a current ratio of 6.99 and a debt-to-equity ratio of 1.03.
Pacira Pharmaceuticals (NASDAQ:PCRX) last released its earnings results on Wednesday, November 8th. The company reported $0.11 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.04) by $0.15. The company had revenue of $67.30 million during the quarter, compared to analysts’ expectations of $68.99 million. Pacira Pharmaceuticals had a negative return on equity of 13.77% and a negative net margin of 18.25%. The business’s revenue for the quarter was down 1.6% on a year-over-year basis. During the same period last year, the firm earned $0.20 EPS. equities research analysts expect that Pacira Pharmaceuticals will post -0.87 EPS for the current year.
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In other news, Director Mark A. Kronenfeld purchased 1,000 shares of the business’s stock in a transaction dated Friday, November 10th. The shares were bought at an average cost of $41.60 per share, for a total transaction of $41,600.00. Following the completion of the acquisition, the director now directly owns 6,795 shares in the company, valued at approximately $282,672. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO David M. Stack sold 58,885 shares of the business’s stock in a transaction dated Wednesday, November 15th. The shares were sold at an average price of $38.34, for a total value of $2,257,650.90. Following the completion of the sale, the chief executive officer now owns 159,164 shares in the company, valued at $6,102,347.76. The disclosure for this sale can be found here. Insiders own 6.60% of the company’s stock.
Several institutional investors have recently modified their holdings of the company. BlackRock Inc. lifted its holdings in shares of Pacira Pharmaceuticals by 9.2% in the second quarter. BlackRock Inc. now owns 3,478,281 shares of the company’s stock valued at $165,914,000 after purchasing an additional 294,494 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Pacira Pharmaceuticals by 7.4% in the second quarter. Vanguard Group Inc. now owns 3,072,074 shares of the company’s stock valued at $146,538,000 after purchasing an additional 211,982 shares in the last quarter. HealthCor Management L.P. lifted its holdings in shares of Pacira Pharmaceuticals by 63.1% in the second quarter. HealthCor Management L.P. now owns 1,793,799 shares of the company’s stock valued at $85,564,000 after purchasing an additional 693,799 shares in the last quarter. Westfield Capital Management Co. LP lifted its holdings in shares of Pacira Pharmaceuticals by 5.3% in the third quarter. Westfield Capital Management Co. LP now owns 1,285,850 shares of the company’s stock valued at $48,284,000 after purchasing an additional 64,510 shares in the last quarter. Finally, Macquarie Group Ltd. lifted its holdings in shares of Pacira Pharmaceuticals by 5.8% in the third quarter. Macquarie Group Ltd. now owns 1,154,545 shares of the company’s stock valued at $43,353,000 after purchasing an additional 63,015 shares in the last quarter. Institutional investors own 99.64% of the company’s stock.
About Pacira Pharmaceuticals
Pacira Pharmaceuticals, Inc is a holding company. The Company is a pharmaceutical company focused on the development, manufacture and commercialization of pharmaceutical products, based on its DepoFoam extended release drug delivery technology, for use primarily in hospitals and ambulatory surgery centers.
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