Pacira Pharmaceuticals Inc (NASDAQ:PCRX) – Research analysts at Leerink Swann lowered their FY2020 earnings per share (EPS) estimates for Pacira Pharmaceuticals in a note issued to investors on Monday, December 3rd. Leerink Swann analyst A. Fadia now expects that the company will post earnings per share of $0.73 for the year, down from their prior forecast of $1.46. Leerink Swann also issued estimates for Pacira Pharmaceuticals’ FY2021 earnings at $0.99 EPS and FY2022 earnings at $1.54 EPS.
Pacira Pharmaceuticals (NASDAQ:PCRX) last released its quarterly earnings data on Thursday, November 1st. The company reported $0.31 EPS for the quarter, beating the consensus estimate of ($0.09) by $0.40. The company 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%. The firm’s revenue for the quarter was up 23.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.11 EPS.
PCRX has been the subject of several other research reports. Needham & Company LLC set a $60.00 price objective on Pacira Pharmaceuticals and gave the company a “buy” rating in a report on Thursday, November 1st. ValuEngine downgraded Pacira Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Tuesday, October 2nd. Piper Jaffray Companies set a $55.00 price objective on Pacira Pharmaceuticals and gave the company a “buy” rating in a report on Thursday, November 1st. Canaccord Genuity set a $45.00 price objective on Pacira Pharmaceuticals and gave the company a “hold” rating in a report on Tuesday, September 4th. Finally, JPMorgan Chase & Co. increased their price objective on Pacira Pharmaceuticals from $45.00 to $50.00 and gave the company a “neutral” rating in a report on Friday, November 2nd. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and nine have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $53.76.
NASDAQ PCRX opened at $48.14 on Wednesday. The company has a market capitalization of $1.99 billion, a PE ratio of -83.00, a P/E/G ratio of 82.60 and a beta of 1.65. The company has a debt-to-equity ratio of 0.95, a current ratio of 8.66 and a quick ratio of 7.83. Pacira Pharmaceuticals has a 12 month low of $26.95 and a 12 month high of $55.00.
In related news, Director Gary W. Pace bought 4,500 shares of Pacira Pharmaceuticals stock in a transaction dated Monday, November 19th. The shares were bought at an average cost of $46.18 per share, with a total value of $207,810.00. Following the acquisition, the director now owns 32,819 shares in the company, valued at approximately $1,515,581.42. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Andreas Wicki sold 58,245 shares of the stock in a transaction on Friday, November 9th. The stock was sold at an average price of $51.11, for a total value of $2,976,901.95. The disclosure for this sale can be found here. Over the last three months, insiders have sold 151,221 shares of company stock worth $7,403,146. 5.90% of the stock is currently owned by insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. US Bancorp DE grew its holdings 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 in the last quarter. Cubist Systematic Strategies LLC boosted its stake in Pacira Pharmaceuticals by 1,925.8% in the second quarter. Cubist Systematic Strategies LLC now owns 6,665 shares of the company’s stock valued at $214,000 after buying an additional 6,336 shares in the last quarter. Xact Kapitalforvaltning AB acquired a new stake in Pacira Pharmaceuticals in the second quarter valued at about $219,000. Bouchey Financial Group Ltd acquired a new stake in Pacira Pharmaceuticals in the third quarter valued at about $221,000. Finally, Boston Private Wealth LLC acquired a new stake in Pacira Pharmaceuticals in the third quarter valued at about $246,000. 97.84% of the stock is currently owned by institutional investors.
About Pacira Pharmaceuticals
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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