Pacira Pharmaceuticals Inc. (PCRX) Earns Hold Rating from Cowen and Company
Pacira Pharmaceuticals Inc. (NASDAQ:PCRX)‘s stock had its “hold” rating reiterated by stock analysts at Cowen and Company in a report released on Tuesday.
Several other research analysts also recently issued reports on the company. BMO Capital Markets initiated coverage on Pacira Pharmaceuticals in a research note on Tuesday, June 28th. They issued an “underperform” rating and a $36.00 price objective for the company. Wedbush reaffirmed an “outperform” rating and issued a $105.00 price objective on shares of Pacira Pharmaceuticals in a research note on Wednesday, July 20th. Brean Capital downgraded Pacira Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Friday, July 1st. Zacks Investment Research downgraded Pacira Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Friday, July 29th. Finally, Piper Jaffray Cos. reaffirmed an “overweight” rating and issued a $81.00 price objective on shares of Pacira Pharmaceuticals in a research note on Wednesday, August 3rd. Two analysts have rated the stock with a sell rating, three have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. Pacira Pharmaceuticals currently has a consensus rating of “Buy” and a consensus price target of $73.64.
Pacira Pharmaceuticals (NASDAQ:PCRX) traded down 1.80% during mid-day trading on Tuesday, hitting $40.37. 553,658 shares of the stock were exchanged. Pacira Pharmaceuticals has a 1-year low of $31.08 and a 1-year high of $80.25. The stock has a 50 day moving average price of $41.69 and a 200 day moving average price of $45.45. The company’s market capitalization is $1.50 billion.
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Pacira Pharmaceuticals (NASDAQ:PCRX) last released 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 positive return on equity of 0.02% and a negative net margin of 4.21%. The company earned $69.60 million during the quarter, compared to the consensus estimate of $67.80 million. During the same quarter in the prior year, the firm posted $0.20 earnings per share. The firm’s revenue was up 17.8% compared to the same quarter last year. On average, equities analysts anticipate that Pacira Pharmaceuticals will post $0.42 earnings per share for the current fiscal year.
In other Pacira Pharmaceuticals news, 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 transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, President James S. Scibetta sold 25,000 shares of the stock in a transaction that occurred 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 disclosure for this sale can be found here. Company insiders own 6.90% of the company’s stock.
Several institutional investors have recently bought and sold shares of the company. Legal & General Group Plc boosted its position in Pacira Pharmaceuticals by 10.6% in the first quarter. Legal & General Group Plc now owns 7,715 shares of the company’s stock worth $403,000 after buying an additional 740 shares during the last quarter. Nuveen Asset Management LLC boosted its position in shares of Pacira Pharmaceuticals by 67.3% in the first quarter. Nuveen Asset Management LLC now owns 179,063 shares of the company’s stock worth $9,487,000 after buying an additional 72,034 shares in the last quarter. Opus Point Partners Management LLC boosted its position in shares of Pacira Pharmaceuticals by 83.7% in the first quarter. Opus Point Partners Management LLC now owns 35,110 shares of the company’s stock worth $1,860,000 after buying an additional 16,000 shares in the last quarter. Granahan Investment Management Inc. MA boosted its position in shares of 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 in the last quarter. Finally, Geode Capital Management LLC boosted its position in shares of Pacira Pharmaceuticals by 5.4% in the first quarter. Geode Capital Management LLC now owns 262,536 shares of the company’s stock worth $13,909,000 after buying an additional 13,435 shares in the last quarter.
Pacira Pharmaceuticals Company Profile
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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