Pacira Pharmaceuticals, Inc. (NASDAQ:PCRX) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Friday.
According to Zacks, “Pacira incurred wider-than-expected loss in second-quarter 2017 and revenues missed estimates. the company efforts to expand Exparel's label to boost sales in oral surgery and chronic pain are encouraging. The company also remains optimistic of its partnership with J&J to market and promote the use of Exparel, with their sales and medical education teams. Going forwad, Pacira is looking to expand Exparel's label in the animal health market as well. Shares of the company have outperformed the industry year to date. However, Pacira’s dependence on its key marketed drug, Exparel, for top-line growth is concerning. A decline in Exparel sales will adversely impact the company's top line.The company also discontinued the production of DepoCyt(e) due to persistent technical issues specific to DepoCyt.”
Other research analysts have also issued research reports about the stock. Wedbush restated an “outperform” rating and set a $87.00 price target on shares of Pacira Pharmaceuticals in a research note on Wednesday, July 19th. Canaccord Genuity restated a “buy” rating and set a $56.00 price target on shares of Pacira Pharmaceuticals in a research note on Monday, July 31st. BMO Capital Markets cut their price target on shares of Pacira Pharmaceuticals from $42.00 to $40.00 and set a “market perform” rating on the stock in a research note on Thursday, August 3rd. HC Wainwright set a $59.00 price target on shares of Pacira Pharmaceuticals and gave the company a “buy” rating in a research note on Thursday, August 3rd. Finally, Mizuho cut their price target on shares of Pacira Pharmaceuticals from $57.00 to $54.00 and set a “buy” rating on the stock in a research note on Friday, May 5th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and eight have assigned a buy rating to the company. The company has an average rating of “Hold” and an average price target of $54.50.
Pacira Pharmaceuticals (PCRX) traded down 0.760% during mid-day trading on Friday, reaching $35.925. 322,967 shares of the company’s stock traded hands. Pacira Pharmaceuticals has a one year low of $29.95 and a one year high of $58.95. The firm’s market cap is $1.45 billion. The firm’s 50-day moving average price is $44.96 and its 200 day moving average price is $45.30.
Pacira Pharmaceuticals (NASDAQ:PCRX) last posted its earnings results on Wednesday, August 2nd. The company reported ($0.11) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.05) by $0.06. Pacira Pharmaceuticals had a negative net margin of 23.36% and a negative return on equity of 12.44%. The firm had revenue of $70.90 million for the quarter, compared to analysts’ expectations of $73.37 million. During the same period in the previous year, the company earned $0.21 EPS. The company’s revenue was up 1.9% on a year-over-year basis. On average, equities analysts forecast that Pacira Pharmaceuticals will post ($0.13) EPS for the current year.
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In other news, President James S. Scibetta sold 20,000 shares of the stock in a transaction on Monday, May 15th. The shares were sold at an average price of $51.20, for a total value of $1,024,000.00. Following the sale, the president now owns 47,084 shares in the company, valued at $2,410,700.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Kristen Marie Williams sold 21,041 shares of the stock in a transaction on Monday, May 15th. The stock was sold at an average price of $50.86, for a total transaction of $1,070,145.26. Following the completion of the sale, the chief accounting officer now owns 18,775 shares in the company, valued at approximately $954,896.50. The disclosure for this sale can be found here. Insiders sold 50,564 shares of company stock worth $2,506,682 in the last quarter. Company insiders own 6.60% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the company. Oppenheimer Asset Management Inc. acquired a new stake in Pacira Pharmaceuticals during the second quarter worth $114,000. Benjamin F. Edwards & Company Inc. increased its stake in shares of Pacira Pharmaceuticals by 85.6% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 2,491 shares of the company’s stock worth $114,000 after buying an additional 1,149 shares during the period. FNY Partners Fund LP purchased a new stake in shares of Pacira Pharmaceuticals during the first quarter worth about $136,000. Ameritas Investment Partners Inc. purchased a new stake in shares of Pacira Pharmaceuticals during the first quarter worth about $144,000. Finally, Schnieders Capital Management LLC purchased a new stake in shares of Pacira Pharmaceuticals during the second quarter worth about $201,000.
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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