Jefferies Group reaffirmed their buy rating on shares of Pacira Pharmaceuticals Inc. (NASDAQ:PCRX) in a research report released on Monday. Jefferies Group currently has a $60.00 target price on the stock, down from their prior target price of $74.00.
Several other analysts also recently issued reports on PCRX. Brean Capital reaffirmed a hold rating on shares of Pacira Pharmaceuticals in a research report on Friday, August 5th. Wedbush reaffirmed an outperform rating and issued a $105.00 price objective (down previously from $109.00) on shares of Pacira Pharmaceuticals in a research report on Thursday, August 4th. Mizuho reaffirmed a buy rating on shares of Pacira Pharmaceuticals in a research report on Wednesday, June 22nd. Cowen and Company assumed coverage on shares of Pacira Pharmaceuticals in a research report on Wednesday, September 7th. They issued a market perform rating for the company. Finally, Zacks Investment Research raised shares of Pacira Pharmaceuticals from a hold rating to a strong-buy rating and set a $52.00 price objective for the company in a research report on Wednesday, August 10th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of Buy and a consensus price target of $72.83.
Shares of Pacira Pharmaceuticals (NASDAQ:PCRX) opened at 35.27 on Monday. The company’s 50-day moving average is $41.15 and its 200 day moving average is $44.99. The firm’s market capitalization is $1.31 billion. Pacira Pharmaceuticals has a 52-week low of $31.08 and a 52-week high of $80.25.
Pacira Pharmaceuticals (NASDAQ:PCRX) last issued its quarterly earnings data on Thursday, August 4th. The company reported $0.19 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.03 by $0.16. Pacira Pharmaceuticals had a negative net margin of 4.21% and a positive return on equity of 0.02%. The company earned $69.60 million during the quarter, compared to the consensus estimate of $67.80 million. During the same quarter last year, the company earned $0.20 earnings per share. Pacira Pharmaceuticals’s revenue for the quarter was up 17.8% on a year-over-year basis. Equities analysts expect that Pacira Pharmaceuticals will post $0.46 earnings per share for the current fiscal year.
In other Pacira Pharmaceuticals news, President James S. Scibetta sold 25,000 shares of the firm’s stock in a transaction on Monday, August 15th. The stock was sold at an average price of $45.21, for a total value of $1,130,250.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO David M. Stack sold 15,000 shares of the firm’s stock in a transaction on Monday, August 15th. The shares were sold at an average price of $45.32, for a total value of $679,800.00. The disclosure for this sale can be found here. Corporate insiders own 6.90% of the company’s stock.
Large investors have recently bought and sold shares of the stock. BlackRock Inc. boosted its stake in Pacira Pharmaceuticals by 122.7% in the first quarter. BlackRock Inc. now owns 2,497 shares of the company’s stock worth $133,000 after buying an additional 1,376 shares during the last quarter. US Bancorp DE raised its position in shares of Pacira Pharmaceuticals by 8.5% in the second quarter. US Bancorp DE now owns 5,010 shares of the company’s stock worth $169,000 after buying an additional 394 shares during the period. Teacher Retirement System of Texas raised its position in shares of Pacira Pharmaceuticals by 13.6% in the second quarter. Teacher Retirement System of Texas now owns 5,184 shares of the company’s stock worth $175,000 after buying an additional 622 shares during the period. Westpac Banking Corp raised its position in shares of Pacira Pharmaceuticals by 46.7% in the second quarter. Westpac Banking Corp now owns 5,877 shares of the company’s stock worth $198,000 after buying an additional 1,870 shares during the period. Finally, Tower Research Capital LLC TRC raised its position in shares of Pacira Pharmaceuticals by 713.2% in the second quarter. Tower Research Capital LLC TRC now owns 5,936 shares of the company’s stock worth $200,000 after buying an additional 5,206 shares during the period.
About Pacira Pharmaceuticals
Pacira Pharmaceuticals, Inc is a specialty pharmaceutical company. The Company is focused on the development, commercialization and manufacture of pharmaceutical products, based on its DepoFoam drug delivery technology, for use in hospitals and ambulatory surgery centers. Its primary focus lies in the development of non-opioid products for postsurgical pain control.
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