Pacira Pharmaceuticals, Inc. (NASDAQ:PCRX) had its target price trimmed by Jefferies Group LLC to $52.00 in a research note issued to investors on Thursday, The Fly reports. The firm currently has a buy rating on the stock.
Several other research firms have also recently issued reports on PCRX. Cowen and Company reiterated a hold rating on shares of Pacira Pharmaceuticals in a report on Wednesday, August 2nd. BMO Capital Markets increased their price objective on shares of Pacira Pharmaceuticals from $38.00 to $39.00 and gave the company a market perform rating in a report on Wednesday, November 8th. Mizuho reiterated a buy rating and issued a $53.00 price objective (down from $54.00) on shares of Pacira Pharmaceuticals in a report on Tuesday, August 22nd. Goldman Sachs Group, Inc. (The) started coverage on shares of Pacira Pharmaceuticals in a report on Thursday, September 28th. They issued a neutral rating and a $41.00 price objective for the company. Finally, BidaskClub cut shares of Pacira Pharmaceuticals from a sell rating to a strong sell rating in a report on Wednesday, August 2nd. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have given a buy rating to the company. Pacira Pharmaceuticals currently has an average rating of Hold and a consensus target price of $49.71.
Pacira Pharmaceuticals (NASDAQ PCRX) traded up $1.90 during midday trading on Thursday, reaching $42.05. 787,300 shares of the company’s stock traded hands, compared to its average volume of 840,020. Pacira Pharmaceuticals has a 1 year low of $29.81 and a 1 year high of $58.95. The company has a quick ratio of 6.24, a current ratio of 6.99 and a debt-to-equity ratio of 1.03.
Pacira Pharmaceuticals (NASDAQ:PCRX) last posted its earnings results on Wednesday, November 8th. The company reported $0.11 EPS for the quarter, topping the 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 firm had revenue of $67.30 million during the quarter, compared to analysts’ expectations of $68.99 million. During the same quarter in the prior year, the firm earned $0.20 EPS. Pacira Pharmaceuticals’s quarterly revenue was down 1.6% on a year-over-year basis. equities analysts expect that Pacira Pharmaceuticals will post -0.96 earnings per share for the current year.
In other Pacira Pharmaceuticals news, CEO David M. Stack sold 28,885 shares of the stock in a transaction that occurred on Tuesday, August 15th. The shares were sold at an average price of $36.37, for a total value of $1,050,547.45. Following the completion of the sale, the chief executive officer now owns 159,164 shares in the company, valued at approximately $5,788,794.68. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Kristen Marie Williams sold 3,461 shares of the stock in a transaction that occurred on Tuesday, August 15th. The stock was sold at an average price of $36.75, for a total transaction of $127,191.75. Following the completion of the sale, the chief accounting officer now owns 21,312 shares of the company’s stock, valued at approximately $783,216. The disclosure for this sale can be found here. In the last 90 days, insiders sold 33,390 shares of company stock valued at $1,215,480. 6.60% of the stock is owned by insiders.
A number of hedge funds have recently added to or reduced their stakes in PCRX. Principal Financial Group Inc. purchased a new stake in Pacira Pharmaceuticals in the 1st quarter worth approximately $237,000. Teachers Advisors LLC lifted its position in Pacira Pharmaceuticals by 238.5% in the 1st quarter. Teachers Advisors LLC now owns 212,792 shares of the company’s stock worth $9,703,000 after buying an additional 149,938 shares in the last quarter. TIAA CREF Investment Management LLC lifted its position in Pacira Pharmaceuticals by 25.8% in the 1st quarter. TIAA CREF Investment Management LLC now owns 136,167 shares of the company’s stock worth $6,209,000 after buying an additional 27,942 shares in the last quarter. Vanguard Group Inc. lifted its position in Pacira Pharmaceuticals by 4.1% in the 1st quarter. Vanguard Group Inc. now owns 2,860,092 shares of the company’s stock worth $130,420,000 after buying an additional 112,853 shares in the last quarter. Finally, Geode Capital Management LLC lifted its position in Pacira Pharmaceuticals by 5.3% in the 1st quarter. Geode Capital Management LLC now owns 367,089 shares of the company’s stock worth $16,739,000 after buying an additional 18,559 shares in the last quarter. Institutional investors own 99.64% of the company’s stock.
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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