Pacira Pharmaceuticals (PCRX) Coverage Initiated at Leerink Swann

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.

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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.

Analyst Recommendations for Pacira Pharmaceuticals (NASDAQ:PCRX)

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