Several other research firms have also recently weighed in on PCRX. Canaccord Genuity cut their price objective on Pacira Pharmaceuticals from $56.00 to $48.00 and set a buy rating for the company in a research report on Tuesday, August 29th. Mizuho reissued a buy rating and set a $54.00 price objective on shares of Pacira Pharmaceuticals in a research report on Wednesday, July 26th. Royal Bank Of Canada set a $58.00 price objective on Pacira Pharmaceuticals and gave the stock a buy rating in a research report on Sunday, July 30th. Cowen and Company reissued a hold rating on shares of Pacira Pharmaceuticals in a research report on Wednesday, August 2nd. Finally, Wedbush reissued an outperform rating and set a $87.00 price objective on shares of Pacira Pharmaceuticals in a research report on Wednesday, July 19th. Two research 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. The stock has a consensus rating of Hold and a consensus target price of $52.92.
Shares of Pacira Pharmaceuticals (PCRX) traded up 1.92% during midday trading on Thursday, reaching $37.10. The company’s stock had a trading volume of 333,022 shares. Pacira Pharmaceuticals has a 12 month low of $29.95 and a 12 month high of $58.95. The stock’s 50-day moving average is $38.04 and its 200 day moving average is $44.70. The stock’s market capitalization is $1.50 billion.
Pacira Pharmaceuticals (NASDAQ:PCRX) last announced its quarterly earnings results on Wednesday, August 2nd. The company reported ($0.11) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.05) by $0.06. Pacira Pharmaceuticals had a negative return on equity of 12.44% and a negative net margin of 23.36%. The company had revenue of $70.90 million during the quarter, compared to analyst estimates of $73.37 million. During the same period in the prior year, the firm earned $0.21 EPS. Pacira Pharmaceuticals’s quarterly revenue was up 1.9% on a year-over-year basis. On average, analysts expect that Pacira Pharmaceuticals will post ($0.17) earnings per share for the current fiscal year.
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In other news, CEO David M. Stack sold 28,885 shares of the stock in a transaction on Tuesday, August 15th. The stock was sold at an average price of $36.37, for a total value of $1,050,547.45. Following the transaction, the chief executive officer now owns 159,164 shares of the company’s stock, valued at approximately $5,788,794.68. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Paul J. Hastings sold 1,044 shares of the stock in a transaction on Tuesday, August 22nd. The shares were sold at an average price of $36.15, for a total value of $37,740.60. Following the completion of the transaction, the director now directly owns 3,518 shares in the company, valued at approximately $127,175.70. The disclosure for this sale can be found here. In the last three months, insiders sold 33,390 shares of company stock worth $1,215,480. 6.60% of the stock is currently owned by company insiders.
Several hedge funds have recently bought and sold shares of the company. Principal Financial Group Inc. lifted its stake in shares of Pacira Pharmaceuticals by 5.2% in the 2nd quarter. Principal Financial Group Inc. now owns 5,466 shares of the company’s stock valued at $261,000 after purchasing an additional 270 shares during the period. Ameritas Investment Partners Inc. raised its stake in Pacira Pharmaceuticals by 9.6% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 3,449 shares of the company’s stock worth $165,000 after buying an additional 302 shares during the period. Benjamin F. Edwards & Company Inc. raised its stake in Pacira Pharmaceuticals by 12.2% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 2,794 shares of the company’s stock worth $133,000 after buying an additional 303 shares during the period. Denver Investment Advisors LLC raised its stake in Pacira Pharmaceuticals by 6.8% during the 2nd quarter. Denver Investment Advisors LLC now owns 6,850 shares of the company’s stock worth $327,000 after buying an additional 435 shares during the period. Finally, Amalgamated Bank raised its stake in Pacira Pharmaceuticals by 12.7% during the 2nd quarter. Amalgamated Bank now owns 5,030 shares of the company’s stock worth $240,000 after buying an additional 566 shares during the period.
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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