Pacira Pharmaceuticals Inc. (PCRX) Given Hold Rating at Cowen and Company
Pacira Pharmaceuticals Inc. (NASDAQ:PCRX)‘s stock had its “hold” rating restated by analysts at Cowen and Company in a report issued on Tuesday.
A number of other brokerages also recently issued reports on PCRX. BMO Capital Markets reiterated a “sell” rating and set a $36.00 price target on shares of Pacira Pharmaceuticals in a research report on Tuesday, July 19th. Mizuho reiterated a “buy” rating on shares of Pacira Pharmaceuticals in a research report on Wednesday, June 22nd. Wedbush reiterated an “outperform” rating and set a $105.00 price target (down previously from $109.00) on shares of Pacira Pharmaceuticals in a research report on Thursday, August 4th. Zacks Investment Research upgraded Pacira Pharmaceuticals from a “hold” rating to a “buy” rating and set a $42.00 price target for the company in a research report on Tuesday, July 26th. Finally, Brean Capital downgraded Pacira Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Friday, July 1st. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $73.64.
Pacira Pharmaceuticals (NASDAQ:PCRX) traded down 1.80% during trading on Tuesday, hitting $40.37. The company’s stock had a trading volume of 553,658 shares. Pacira Pharmaceuticals has a 12 month low of $31.08 and a 12 month high of $80.25. The firm has a 50 day moving average of $41.69 and a 200 day moving average of $45.45. The firm’s market cap is $1.50 billion.
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Pacira Pharmaceuticals (NASDAQ:PCRX) last issued its quarterly earnings results on Thursday, August 4th. The company reported $0.19 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.03 by $0.16. The firm earned $69.60 million during the quarter, compared to the consensus estimate of $67.80 million. Pacira Pharmaceuticals had a positive return on equity of 0.02% and a negative net margin of 4.21%. The company’s revenue for the quarter was up 17.8% on a year-over-year basis. During the same quarter last year, the company posted $0.20 EPS. Equities research analysts predict that Pacira Pharmaceuticals will post $0.42 earnings per share for the current year.
In other Pacira Pharmaceuticals news, President James S. Scibetta sold 25,000 shares of Pacira Pharmaceuticals 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 sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO David M. Stack sold 15,000 shares of Pacira Pharmaceuticals stock in a transaction that occurred on Monday, August 15th. The stock was 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. 6.90% of the stock is owned by company insiders.
A number of institutional investors have recently made changes to their positions in PCRX. Norges Bank bought a new position in shares of Pacira Pharmaceuticals during the fourth quarter worth approximately $15,132,000. Prudential Financial Inc. boosted its position in shares of Pacira Pharmaceuticals by 257.2% in the first quarter. Prudential Financial Inc. now owns 13,376 shares of the company’s stock worth $709,000 after buying an additional 9,631 shares during the period. BlackRock Inc. boosted its position in shares of 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 period. BlackRock Group LTD boosted its position in shares of 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. Finally, BlackRock Fund Advisors boosted its position in shares of Pacira Pharmaceuticals by 1.2% in the first quarter. BlackRock Fund Advisors now owns 1,582,234 shares of the company’s stock worth $83,827,000 after buying an additional 18,120 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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