Pacira Pharmaceuticals Inc. (PCRX) Trading Down 9.6%
Pacira Pharmaceuticals Inc. (NASDAQ:PCRX) shares traded down 9.6% during mid-day trading on Wednesday . The company traded as low as $35.87 and last traded at $36.50, with a volume of 2,046,200 shares changing hands. The stock had previously closed at $40.37.
A number of research analysts have issued reports on the company. Wedbush reissued an “outperform” rating and issued a $109.00 target price on shares of Pacira Pharmaceuticals in a research note on Wednesday. Mizuho reissued an “outperform” rating and issued a $64.00 target price on shares of Pacira Pharmaceuticals in a research note on Friday, July 1st. Zacks Investment Research cut Pacira Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Friday, July 29th. Piper Jaffray Cos. reissued an “overweight” rating and issued a $81.00 target price on shares of Pacira Pharmaceuticals in a research note on Wednesday, August 3rd. Finally, Brean Capital reissued a “hold” rating on shares of Pacira Pharmaceuticals in a research note on Friday, August 5th. Two analysts have rated the stock with a sell rating, three have issued a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $74.00.
The company’s market cap is $1.37 billion. The stock has a 50 day moving average of $41.65 and a 200-day moving average of $45.42.
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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 for the quarter, topping the Zacks’ 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 firm earned $69.60 million during the quarter, compared to the consensus estimate of $67.80 million. During the same period last year, the business posted $0.20 EPS. The business’s revenue was up 17.8% compared to the same quarter last year. Equities research analysts expect that Pacira Pharmaceuticals Inc. will post $0.44 EPS for the current fiscal year.
In other Pacira Pharmaceuticals news, CEO David M. Stack sold 15,000 shares of the stock in a transaction dated Monday, August 15th. The stock was sold at an average price of $45.32, for a total transaction of $679,800.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, President James S. Scibetta sold 25,000 shares of the stock in a transaction dated 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.
A number of hedge funds have recently modified their holdings of PCRX. BlackRock Institutional Trust Company N.A. increased its stake in shares of 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 last quarter. Daruma Capital Management LLC increased its stake in shares of 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 last quarter. State Street Corp increased its stake in shares of 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 last quarter. BlackRock Group LTD increased its stake 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 last quarter. Finally, BlackRock Inc. increased its stake 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 last quarter.
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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