Pacira Pharmaceuticals (NASDAQ:PCRX) had its price target upped by Jefferies Financial Group to $60.00 in a research note published on Friday morning, The Fly reports. The brokerage currently has a buy rating on the stock.
PCRX has been the topic of a number of other reports. Needham & Company LLC raised shares of 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. Barclays upped their price objective on shares of Pacira Pharmaceuticals from $40.00 to $50.00 and gave the company a buy rating in a research note on Monday, August 6th. BMO Capital Markets upped their price objective on shares of Pacira Pharmaceuticals to $40.00 and gave the company a neutral rating in a research note on Thursday, August 2nd. They noted that the move was a valuation call. ValuEngine raised shares of Pacira Pharmaceuticals from a hold rating to a buy rating in a research note on Saturday, July 28th. Finally, Wedbush set a $85.00 price objective on shares of Pacira Pharmaceuticals and gave the company an outperform rating in a research note on Monday, August 6th. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and ten have assigned a buy rating to the company. Pacira Pharmaceuticals presently has an average rating of Hold and a consensus price target of $52.28.
NASDAQ:PCRX opened at $48.66 on Friday. The company has a debt-to-equity ratio of 0.95, a quick ratio of 7.83 and a current ratio of 8.66. Pacira Pharmaceuticals has a 52 week low of $26.95 and a 52 week high of $55.00. The firm has a market capitalization of $2.06 billion, a PE ratio of -83.90 and a beta of 1.68.
Pacira Pharmaceuticals (NASDAQ:PCRX) last posted its quarterly earnings data on Thursday, November 1st. The company reported $0.31 EPS for the quarter, beating the Zacks’ consensus estimate of ($0.09) by $0.40. Pacira Pharmaceuticals had a negative net margin of 1.30% and a positive return on equity of 2.74%. The company had revenue of $83.45 million for the quarter, compared to analyst estimates of $79.87 million. During the same period in the prior year, the firm posted $0.11 EPS. The company’s quarterly revenue was up 23.9% on a year-over-year basis. Equities research analysts forecast that Pacira Pharmaceuticals will post -0.21 earnings per share for the current year.
In related news, VP Lauren Bullaro Riker sold 1,667 shares of the stock in a transaction on Wednesday, August 22nd. The shares were sold at an average price of $44.48, for a total transaction of $74,148.16. Following the transaction, the vice president now directly owns 10,474 shares of the company’s stock, valued at $465,883.52. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO Kristen Marie Williams sold 4,773 shares of the stock in a transaction 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 transaction, the chief accounting officer now directly owns 22,374 shares in the company, valued at $1,052,472.96. The disclosure for this sale can be found here. Over the last three months, insiders have sold 40,502 shares of company stock worth $1,913,864. 5.90% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Partner Fund Management L.P. boosted its stake in Pacira Pharmaceuticals by 82.5% during the second 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 in the last quarter. Macquarie Group Ltd. raised its holdings in Pacira Pharmaceuticals by 49.4% during the second quarter. Macquarie Group Ltd. now owns 2,321,125 shares of the company’s stock worth $74,392,000 after buying an additional 768,011 shares during the last quarter. Schroder Investment Management Group raised its holdings in Pacira Pharmaceuticals by 2.4% during the second quarter. Schroder Investment Management Group now owns 1,255,030 shares of the company’s stock worth $38,969,000 after buying an additional 29,223 shares during the last quarter. Stephens Investment Management Group LLC raised its holdings in Pacira Pharmaceuticals by 13.9% during the second quarter. Stephens Investment Management Group LLC now owns 1,198,271 shares of the company’s stock worth $37,206,000 after buying an additional 146,319 shares during the last quarter. Finally, Millennium Management LLC raised its holdings in Pacira Pharmaceuticals by 18.5% during the second quarter. Millennium Management LLC now owns 1,052,503 shares of the company’s stock worth $33,733,000 after buying an additional 164,112 shares during the last quarter.
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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