Pacira Pharmaceuticals (NASDAQ:PCRX) had its target price raised by BMO Capital Markets from $40.00 to $47.00 in a report issued on Friday, The Fly reports. The brokerage currently has a market perform rating on the stock.
PCRX has been the topic of several other research reports. Barclays upped their price objective on Pacira Pharmaceuticals from $40.00 to $50.00 and gave the company a buy rating in a research note on Monday, August 6th. Needham & Company LLC upgraded Pacira Pharmaceuticals from a hold rating to a buy rating and set a $54.00 price objective on the stock in a research note on Friday, August 3rd. ValuEngine upgraded Pacira Pharmaceuticals from a hold rating to a buy rating in a research note on Saturday, July 28th. Wedbush set a $85.00 price objective on Pacira Pharmaceuticals and gave the company an outperform rating in a research note on Monday, August 6th. Finally, Mizuho restated a hold rating and set a $43.00 price objective on shares of Pacira Pharmaceuticals in a research note on Thursday, November 1st. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and ten have issued a buy rating to the company’s stock. The stock has an average rating of Hold and a consensus price target of $52.28.
Shares of PCRX opened at $48.66 on Friday. The stock has a market capitalization of $2.06 billion, a P/E ratio of -83.90 and a beta of 1.68. Pacira Pharmaceuticals has a one year low of $26.95 and a one year high of $55.00. The company has a quick ratio of 7.83, a current ratio of 8.66 and a debt-to-equity ratio of 0.95.
Pacira Pharmaceuticals (NASDAQ:PCRX) last issued its quarterly earnings results on Thursday, November 1st. The company reported $0.31 EPS for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.40. The firm had revenue of $83.45 million during the quarter, compared to the consensus estimate of $79.87 million. Pacira Pharmaceuticals had a positive return on equity of 2.74% and a negative net margin of 1.30%. Pacira Pharmaceuticals’s revenue for the quarter was up 23.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.11 earnings per share. On average, research analysts anticipate that Pacira Pharmaceuticals will post -0.21 EPS for the current year.
In other news, CAO Kristen Marie Williams sold 4,773 shares of the stock in a transaction that occurred on Tuesday, August 14th. The stock was sold at an average price of $47.04, for a total transaction of $224,521.92. Following the sale, the chief accounting officer now directly owns 22,374 shares in the company, valued at approximately $1,052,472.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO David M. Stack sold 33,062 shares of the stock in a transaction that occurred on Wednesday, August 15th. The stock was sold at an average price of $47.32, for a total value of $1,564,493.84. The disclosure for this sale can be found here. Insiders have sold a total of 40,502 shares of company stock worth $1,913,864 over the last quarter. Insiders own 5.90% of the company’s stock.
Institutional investors have recently made changes to their positions in the company. Granahan Investment Management Inc. MA raised its position in shares of Pacira Pharmaceuticals by 12.3% during the 2nd quarter. Granahan Investment Management Inc. MA now owns 188,086 shares of the company’s stock worth $6,028,000 after purchasing an additional 20,617 shares during the period. Mutual of America Capital Management LLC raised its position in shares of Pacira Pharmaceuticals by 15.3% during the 2nd quarter. Mutual of America Capital Management LLC now owns 155,554 shares of the company’s stock worth $4,986,000 after purchasing an additional 20,606 shares during the period. Russell Investments Group Ltd. raised its position in shares of Pacira Pharmaceuticals by 14.7% during the 2nd quarter. Russell Investments Group Ltd. now owns 56,610 shares of the company’s stock worth $1,813,000 after purchasing an additional 7,249 shares during the period. Mizuho Securities USA LLC raised its position in shares of Pacira Pharmaceuticals by 193.8% during the 3rd quarter. Mizuho Securities USA LLC now owns 23,500 shares of the company’s stock worth $1,155,000 after purchasing an additional 15,500 shares during the period. Finally, US Bancorp DE raised its position in shares of Pacira Pharmaceuticals by 40.7% during the 2nd quarter. US Bancorp DE now owns 6,038 shares of the company’s stock worth $194,000 after purchasing an additional 1,746 shares during the period.
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.
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