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.
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