Wedbush Reaffirms “Buy” Rating for Pacira Pharmaceuticals (PCRX)

Pacira Pharmaceuticals (NASDAQ:PCRX)‘s stock had its “buy” rating reissued by investment analysts at Wedbush in a research report issued on Monday, November 20th. They presently have a $80.00 price objective on the stock. Wedbush’s target price would suggest a potential upside of 87.35% from the company’s current price. Wedbush also issued estimates for Pacira Pharmaceuticals’ Q4 2017 earnings at ($0.31) EPS, FY2017 earnings at ($1.08) EPS, FY2018 earnings at ($1.32) EPS, FY2019 earnings at ($0.37) EPS and FY2020 earnings at $0.85 EPS.

Several other research firms also recently weighed in on PCRX. Jefferies Group decreased their target price on Pacira Pharmaceuticals to $52.00 and set a “buy” rating for the company in a research report on Thursday, November 9th. Mizuho restated a “buy” rating and issued a $54.00 price objective on shares of Pacira Pharmaceuticals in a report on Wednesday, July 26th. Piper Jaffray Companies restated a “buy” rating and issued a $55.00 price objective on shares of Pacira Pharmaceuticals in a report on Friday, October 27th. ValuEngine downgraded Pacira Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Friday, August 4th. Finally, BidaskClub lowered Pacira Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research note on Wednesday, August 2nd. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating and eight have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $48.86.

Pacira Pharmaceuticals (NASDAQ:PCRX) traded down $1.25 during mid-day trading on Monday, hitting $42.70. 663,118 shares of the company were exchanged, compared to its average volume of 839,391. Pacira Pharmaceuticals has a 1 year low of $29.81 and a 1 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 posted its quarterly earnings data on Wednesday, November 8th. The company reported $0.11 EPS for the quarter, topping the consensus estimate of ($0.04) by $0.15. Pacira Pharmaceuticals had a negative net margin of 18.25% and a negative return on equity of 13.77%. The company had revenue of $67.30 million during the quarter, compared to analyst estimates of $68.99 million. During the same period in the previous year, the firm earned $0.20 earnings per share. Pacira Pharmaceuticals’s quarterly revenue was down 1.6% compared to the same quarter last year. analysts predict that Pacira Pharmaceuticals will post -0.85 earnings per share for the current year.

In other Pacira Pharmaceuticals news, SVP James B. Jones sold 850 shares of the business’s stock in a transaction that occurred on Monday, November 20th. The stock was sold at an average price of $41.11, for a total value of $34,943.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Mark A. Kronenfeld purchased 1,000 shares of the firm’s stock in a transaction on Friday, November 10th. The stock was bought at an average cost of $41.60 per share, with a total value of $41,600.00. Following the completion of the acquisition, the director now directly owns 6,795 shares of the company’s stock, valued at approximately $282,672. The disclosure for this purchase can be found here. In the last quarter, insiders sold 69,735 shares of company stock worth $2,692,594. 6.60% of the stock is owned by insiders.

Large investors have recently made changes to their positions in the business. Principal Financial Group Inc. acquired a new position in shares of Pacira Pharmaceuticals during the 1st quarter worth approximately $237,000. Teachers Advisors LLC raised its stake in shares of Pacira Pharmaceuticals by 238.5% during the 1st quarter. Teachers Advisors LLC now owns 212,792 shares of the company’s stock worth $9,703,000 after buying an additional 149,938 shares during the period. Vanguard Group Inc. raised its stake in shares of Pacira Pharmaceuticals by 4.1% during the 1st quarter. Vanguard Group Inc. now owns 2,860,092 shares of the company’s stock worth $130,420,000 after buying an additional 112,853 shares during the period. UBS Group AG raised its stake in shares of Pacira Pharmaceuticals by 96.8% during the 1st quarter. UBS Group AG now owns 14,473 shares of the company’s stock worth $660,000 after buying an additional 7,117 shares during the period. Finally, BlackRock Inc. raised its stake in shares of Pacira Pharmaceuticals by 28,922.7% during the 1st quarter. BlackRock Inc. now owns 3,183,787 shares of the company’s stock worth $145,180,000 after buying an additional 3,172,817 shares during the period.

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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.

Analyst Recommendations for Pacira Pharmaceuticals (NASDAQ:PCRX)

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