Pacira Pharmaceuticals (PCRX) Downgraded by BidaskClub

BidaskClub downgraded shares of Pacira Pharmaceuticals (NASDAQ:PCRX) from a hold rating to a sell rating in a research note issued to investors on Thursday morning.

A number of other brokerages also recently weighed in on PCRX. Jefferies Group cut their price target on shares of Pacira Pharmaceuticals to $52.00 and set a buy rating for the company in a report on Thursday, November 9th. ValuEngine raised shares of Pacira Pharmaceuticals from a sell rating to a hold rating in a report on Wednesday, January 10th. Canaccord Genuity set a $42.00 price target on shares of Pacira Pharmaceuticals and gave the stock a hold rating in a report on Wednesday, November 29th. Piper Jaffray Companies reaffirmed a buy rating and set a $55.00 price target on shares of Pacira Pharmaceuticals in a report on Friday, October 27th. Finally, Wedbush reaffirmed an outperform rating and set a $87.00 price target on shares of Pacira Pharmaceuticals in a report on Wednesday, October 25th. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating and ten have issued a buy rating to the stock. The company has an average rating of Hold and an average price target of $49.06.

Pacira Pharmaceuticals (PCRX) opened at $38.75 on Thursday. Pacira Pharmaceuticals has a 52-week low of $29.81 and a 52-week high of $58.95. The stock has a market cap of $1,570.00, a P/E ratio of -29.58 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 (NASDAQ:PCRX) last issued its quarterly earnings results on Wednesday, November 8th. The company reported $0.11 earnings per share for the quarter, topping the Zacks’ 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 the consensus estimate of $68.99 million. During the same quarter in the prior year, the firm posted $0.20 EPS. The firm’s quarterly revenue was down 1.6% on a year-over-year basis. sell-side analysts expect that Pacira Pharmaceuticals will post -0.85 earnings per share for the current year.

In related news, CEO David M. Stack sold 58,885 shares of the 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 transaction, the chief executive officer now owns 159,164 shares of the company’s stock, valued at approximately $6,102,347.76. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CAO Kristen Marie Williams sold 10,000 shares of the stock in a transaction that occurred on Friday, November 17th. The shares were sold at an average price of $40.00, for a total transaction of $400,000.00. Following the completion of the transaction, the chief accounting officer now directly owns 23,455 shares of the company’s stock, valued at approximately $938,200. The disclosure for this sale can be found here. In the last three months, insiders sold 98,960 shares of company stock valued at $3,868,341. 6.60% of the stock is owned by insiders.

A number of large investors have recently modified their holdings of the stock. Bouchey Financial Group Ltd bought a new position in Pacira Pharmaceuticals in the 4th quarter valued at approximately $205,000. Public Employees Retirement System of Ohio lifted its stake in Pacira Pharmaceuticals by 7.5% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 40,174 shares of the company’s stock valued at $1,509,000 after purchasing an additional 2,808 shares during the last quarter. Granahan Investment Management Inc. MA lifted its stake in Pacira Pharmaceuticals by 19.6% in the 3rd quarter. Granahan Investment Management Inc. MA now owns 168,464 shares of the company’s stock valued at $6,326,000 after purchasing an additional 27,609 shares during the last quarter. Highbridge Capital Management LLC lifted its stake in Pacira Pharmaceuticals by 4.4% in the 3rd quarter. Highbridge Capital Management LLC now owns 202,700 shares of the company’s stock valued at $7,611,000 after purchasing an additional 8,618 shares during the last quarter. Finally, Cornerstone Capital Management Holdings LLC. bought a new position in shares of Pacira Pharmaceuticals during the third quarter valued at $2,267,000.

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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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