Equities researchers at Leerink Swann began coverage on shares of Pacira Pharmaceuticals (NASDAQ:PCRX) in a research report issued on Tuesday. The brokerage set a “market perform” rating and a $46.00 price target on the stock. Leerink Swann’s price target points to a potential downside of 0.76% from the company’s previous close.
PCRX has been the topic of a number of other reports. Zacks Investment Research downgraded shares of Pacira Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Monday, October 9th. Canaccord Genuity reissued a “buy” rating and issued a $44.00 price target (down from $48.00) on shares of Pacira Pharmaceuticals in a report on Sunday, October 1st. CIBC initiated coverage on shares of Pacira Pharmaceuticals in a report on Thursday, September 7th. They issued a “market perform” rating on the stock. Wedbush reissued an “outperform” rating and issued a $87.00 price target on shares of Pacira Pharmaceuticals in a report on Wednesday, October 25th. Finally, Needham & Company LLC reissued a “buy” rating on shares of Pacira Pharmaceuticals in a report on Tuesday, September 26th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and ten have issued a buy rating to the company. Pacira Pharmaceuticals currently has a consensus rating of “Hold” and an average price target of $48.81.
Shares of Pacira Pharmaceuticals (NASDAQ:PCRX) traded up $0.05 during trading on Tuesday, hitting $46.35. 1,064,500 shares of the stock were exchanged, compared to its average volume of 928,800. Pacira Pharmaceuticals has a 52-week low of $29.81 and a 52-week high of $58.95. The stock has a market capitalization of $1,740.00, a P/E ratio of -35.38 and a beta of 2.20. The company has a debt-to-equity ratio of 1.03, a quick ratio of 6.24 and a current ratio of 6.99.
Pacira Pharmaceuticals (NASDAQ:PCRX) last announced its quarterly earnings results on Wednesday, November 8th. The company reported $0.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $68.99 million. During the same period in the prior year, the firm posted $0.20 earnings per share. The company’s revenue for the quarter was down 1.6% on a year-over-year basis. equities research analysts expect that Pacira Pharmaceuticals will post -0.85 EPS for the current year.
In related news, SVP James B. Jones sold 850 shares of the firm’s stock in a transaction that occurred on Monday, November 20th. The shares were sold at an average price of $41.11, for a total value of $34,943.50. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Mark A. Kronenfeld bought 1,000 shares of the stock in a transaction that occurred on Friday, November 10th. The stock was bought at an average cost of $41.60 per share, for a total transaction of $41,600.00. Following the completion of the purchase, the director now directly owns 6,795 shares of the company’s stock, valued at $282,672. The disclosure for this purchase can be found here. Insiders sold 70,075 shares of company stock worth $2,707,452 over the last ninety days. 6.60% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Public Employees Retirement System of Ohio grew its position in Pacira Pharmaceuticals by 7.5% during the third quarter. Public Employees Retirement System of Ohio now owns 40,174 shares of the company’s stock valued at $1,509,000 after acquiring an additional 2,808 shares during the last quarter. Granahan Investment Management Inc. MA grew its position in Pacira Pharmaceuticals by 19.6% during the third quarter. Granahan Investment Management Inc. MA now owns 168,464 shares of the company’s stock valued at $6,326,000 after acquiring an additional 27,609 shares during the last quarter. Highbridge Capital Management LLC grew its position in Pacira Pharmaceuticals by 4.4% during the third quarter. Highbridge Capital Management LLC now owns 202,700 shares of the company’s stock valued at $7,611,000 after acquiring an additional 8,618 shares during the last quarter. Cornerstone Capital Management Holdings LLC. bought a new position in Pacira Pharmaceuticals during the third quarter valued at approximately $2,267,000. Finally, Oppenheimer Asset Management Inc. grew its position in Pacira Pharmaceuticals by 207.4% during the third quarter. Oppenheimer Asset Management Inc. now owns 7,375 shares of the company’s stock valued at $277,000 after acquiring an additional 4,976 shares during the last quarter.
Pacira Pharmaceuticals Company Profile
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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