Pacira Pharmaceuticals (NASDAQ:PCRX) Given Buy Rating at Wedbush

Pacira Pharmaceuticals (NASDAQ:PCRX)‘s stock had its “buy” rating restated by stock analysts at Wedbush in a report released on Wednesday, December 20th. They currently have a $80.00 target price on the stock. Wedbush’s target price points to a potential upside of 92.77% from the company’s previous close.

A number of other equities analysts have also recently weighed in on the company. CIBC started coverage on Pacira Pharmaceuticals in a report on Thursday, September 7th. They issued a “market perform” rating for the company. UBS Group started coverage on Pacira Pharmaceuticals in a report on Wednesday, September 6th. They issued a “market perform” rating for the company. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $54.00 price target on shares of Pacira Pharmaceuticals in a report on Tuesday, September 5th. Zacks Investment Research cut Pacira Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Monday, October 9th. Finally, Bank of America reduced their price target on Pacira Pharmaceuticals from $46.00 to $45.00 and set a “buy” rating for the company in a report on Wednesday, October 4th. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and nine have issued a buy rating to the stock. Pacira Pharmaceuticals has a consensus rating of “Hold” and a consensus target price of $49.00.

Shares of Pacira Pharmaceuticals (NASDAQ:PCRX) traded down $0.73 during mid-day trading on Wednesday, hitting $41.50. The stock had a trading volume of 1,031,870 shares, compared to its average volume of 712,847. The firm has a market cap of $1,713.07, a PE ratio of -31.68 and a beta of 2.20. The company has a current ratio of 6.99, a quick ratio of 6.24 and a debt-to-equity ratio of 1.03. Pacira Pharmaceuticals has a fifty-two week low of $29.81 and a fifty-two week high of $58.95.

Pacira Pharmaceuticals (NASDAQ:PCRX) last issued its quarterly earnings data on Wednesday, November 8th. The company reported $0.11 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.04) by $0.15. The business 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 company’s revenue for the quarter was down 1.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.20 EPS. research analysts expect that Pacira Pharmaceuticals will post -0.85 EPS for the current year.

In other news, CAO Kristen Marie Williams sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, November 17th. The stock was sold at an average price of $40.00, for a total value of $400,000.00. Following the completion of the sale, the chief accounting officer now directly owns 23,455 shares in the company, valued at $938,200. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO David M. Stack sold 58,885 shares of the company’s stock in a transaction that occurred on 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 of the company’s stock, valued at $6,102,347.76. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 98,960 shares of company stock valued at $3,868,341. 6.60% of the stock is owned by company insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. lifted its holdings in 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 acquiring an additional 294,494 shares during the last quarter. Vanguard Group Inc. lifted its holdings in 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 acquiring an additional 211,982 shares during the last quarter. HealthCor Management L.P. lifted its holdings in 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 acquiring an additional 693,799 shares during the last quarter. Westfield Capital Management Co. LP lifted its holdings in 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 acquiring an additional 64,510 shares during the last quarter. Finally, Macquarie Group Ltd. lifted its holdings in 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 acquiring an additional 63,015 shares during the last quarter.

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Pacira Pharmaceuticals Company Profile

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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