Pacira Pharmaceuticals (PCRX) Releases Earnings Results, Beats Estimates By $0.40 EPS

Pacira Pharmaceuticals (NASDAQ:PCRX) announced its quarterly earnings results on Thursday. The company reported $0.31 EPS for the quarter, beating the Zacks’ consensus estimate of ($0.09) by $0.40, MarketWatch Earnings reports. Pacira Pharmaceuticals had a negative return on equity of 0.39% and a negative net margin of 3.64%. The company had revenue of $83.45 million during the quarter, compared to analysts’ expectations of $79.87 million. During the same period in the prior year, the company earned $0.11 EPS. Pacira Pharmaceuticals’s revenue was up 23.9% compared to the same quarter last year. Pacira Pharmaceuticals updated its FY 2018 guidance to EPS.

Shares of NASDAQ:PCRX opened at $52.16 on Friday. The firm has a market cap of $2.01 billion, a P/E ratio of -89.93 and a beta of 1.87. The company has a debt-to-equity ratio of 0.98, a current ratio of 8.58 and a quick ratio of 7.79. Pacira Pharmaceuticals has a 12-month low of $26.95 and a 12-month high of $52.67.

In related news, VP Lauren Bullaro Riker sold 1,667 shares of the firm’s stock in a transaction on Wednesday, August 22nd. The stock was sold at an average price of $44.48, for a total transaction of $74,148.16. Following the completion of the transaction, the vice president now directly owns 10,474 shares of the company’s stock, valued at approximately $465,883.52. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Kristen Marie Williams sold 4,773 shares of the firm’s stock in a transaction on Tuesday, August 14th. The stock was sold at an average price of $47.04, for a total value of $224,521.92. Following the transaction, the chief accounting officer now directly owns 22,374 shares of the company’s stock, valued at $1,052,472.96. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 40,502 shares of company stock valued at $1,913,864. 5.90% of the stock is owned by corporate insiders.

A number of institutional investors have recently modified their holdings of the business. Partner Fund Management L.P. grew its holdings in Pacira Pharmaceuticals by 82.5% during the 2nd quarter. Partner Fund Management L.P. now owns 3,110,213 shares of the company’s stock worth $99,682,000 after acquiring an additional 1,405,605 shares during the period. Macquarie Group Ltd. grew its holdings in Pacira Pharmaceuticals by 49.4% during the 2nd quarter. Macquarie Group Ltd. now owns 2,321,125 shares of the company’s stock worth $74,392,000 after acquiring an additional 768,011 shares during the period. Schroder Investment Management Group grew its holdings in Pacira Pharmaceuticals by 2.4% during the 2nd quarter. Schroder Investment Management Group now owns 1,255,030 shares of the company’s stock worth $38,969,000 after acquiring an additional 29,223 shares during the period. Stephens Investment Management Group LLC grew its holdings in Pacira Pharmaceuticals by 13.9% during the 2nd quarter. Stephens Investment Management Group LLC now owns 1,198,271 shares of the company’s stock worth $37,206,000 after acquiring an additional 146,319 shares during the period. Finally, Millennium Management LLC grew its holdings in Pacira Pharmaceuticals by 18.5% during the 2nd quarter. Millennium Management LLC now owns 1,052,503 shares of the company’s stock worth $33,733,000 after acquiring an additional 164,112 shares during the period.

A number of brokerages have recently commented on PCRX. Piper Jaffray Companies set a $55.00 price target on Pacira Pharmaceuticals and gave the company a “buy” rating in a research note on Thursday. Needham & Company LLC set a $60.00 price target on Pacira Pharmaceuticals and gave the company a “buy” rating in a research note on Thursday. JMP Securities set a $63.00 price target on Pacira Pharmaceuticals and gave the company a “buy” rating in a research note on Thursday. Mizuho reiterated a “hold” rating and issued a $43.00 price target on shares of Pacira Pharmaceuticals in a research note on Thursday. Finally, HC Wainwright increased their price target on Pacira Pharmaceuticals to $60.00 and gave the company a “buy” rating in a research note on Friday. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and ten have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $50.06.

Pacira Pharmaceuticals Company Profile

Pacira Pharmaceuticals, Inc, a specialty pharmaceutical company, develops, manufactures, and commercializes proprietary pharmaceutical products primarily for use in hospitals and ambulatory surgery centers in the United States. It develops pharmaceutical products based on its proprietary DepoFoam drug delivery technology.

Recommended Story: What is a Leveraged Buyout (LBO)?

Earnings History for Pacira Pharmaceuticals (NASDAQ:PCRX)

Receive News & Ratings for Pacira Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pacira Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.


Leave a Reply