Pacira Pharmaceuticals Inc. (PCRX) Receives Average Recommendation of “Hold” from Brokerages

Pacira Pharmaceuticals Inc. (NASDAQ:PCRX) has been assigned an average rating of “Hold” from the fourteen brokerages that are presently covering the stock. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and seven have assigned a buy rating to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $77.13.

Several equities analysts have recently weighed in on the stock. Cowen and Company restated a “hold” rating on shares of Pacira Pharmaceuticals in a research report on Friday. Mizuho restated an “outperform” rating and set a $64.00 price objective on shares of Pacira Pharmaceuticals in a research report on Friday, July 1st. Zacks Investment Research lowered shares of Pacira Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Friday, July 29th. Piper Jaffray Cos. restated an “overweight” rating and set a $81.00 price objective on shares of Pacira Pharmaceuticals in a research report on Wednesday, August 3rd. Finally, Brean Capital reaffirmed a “hold” rating on shares of Pacira Pharmaceuticals in a research note on Friday, August 5th.

Pacira Pharmaceuticals (NASDAQ:PCRX) opened at 33.19 on Monday. The firm’s market cap is $1.24 billion. The firm’s 50-day moving average is $37.73 and its 200-day moving average is $43.65. Pacira Pharmaceuticals has a 12 month low of $31.08 and a 12 month high of $80.25.

Pacira Pharmaceuticals (NASDAQ:PCRX) last posted its quarterly earnings data on Thursday, August 4th. The company reported $0.19 earnings per share 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 analyst estimates of $67.80 million. During the same quarter last year, the firm posted $0.20 EPS. The business’s revenue for the quarter was up 17.8% on a year-over-year basis. Equities analysts expect that Pacira Pharmaceuticals will post $0.44 earnings per share for the current year.

In other news, President James S. Scibetta sold 25,000 shares of the stock in a transaction that occurred on Monday, August 15th. The shares were sold at an average price of $45.21, for a total value of $1,130,250.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO David M. Stack sold 15,000 shares of the stock in a transaction that occurred on Monday, August 15th. The stock was sold at an average price of $45.32, for a total transaction of $679,800.00. The disclosure for this sale can be found here. 6.90% of the stock is currently owned by insiders.

Hedge funds have recently bought and sold shares of the company. BlackRock Institutional Trust Company N.A. raised its stake in Pacira Pharmaceuticals by 0.7% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 908,647 shares of the company’s stock worth $48,140,000 after buying an additional 5,903 shares during the period. State Street Corp raised its stake in Pacira Pharmaceuticals by 4.4% in the first quarter. State Street Corp now owns 1,109,611 shares of the company’s stock worth $58,792,000 after buying an additional 47,096 shares during the period. Daruma Capital Management LLC raised its stake in Pacira Pharmaceuticals by 1.6% in the first quarter. Daruma Capital Management LLC now owns 963,184 shares of the company’s stock worth $51,029,000 after buying an additional 14,901 shares during the period. Granahan Investment Management Inc. MA raised its stake in Pacira Pharmaceuticals by 75.3% in the first quarter. Granahan Investment Management Inc. MA now owns 159,000 shares of the company’s stock worth $8,424,000 after buying an additional 68,300 shares during the period. Finally, BlackRock Group LTD raised its stake in Pacira Pharmaceuticals by 17.7% in the first quarter. BlackRock Group LTD now owns 23,054 shares of the company’s stock worth $1,221,000 after buying an additional 3,472 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.

5 Day Chart for NASDAQ:PCRX

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