Wedbush Reaffirms Outperform Rating for Pacira Pharmaceuticals Inc. (PCRX)
Pacira Pharmaceuticals Inc. (NASDAQ:PCRX)‘s stock had its “outperform” rating reiterated by investment analysts at Wedbush in a research report issued on Wednesday. They currently have a $109.00 price objective on the stock. Wedbush’s price objective points to a potential upside of 170.00% from the stock’s previous close.
PCRX has been the topic of several other reports. Mizuho reissued a “buy” rating and set a $64.00 price objective on shares of Pacira Pharmaceuticals in a research note on Tuesday, August 2nd. Zacks Investment Research raised Pacira Pharmaceuticals from a “hold” rating to a “strong-buy” rating and set a $52.00 price objective on the stock in a research note on Wednesday, August 10th. Cowen and Company began coverage on Pacira Pharmaceuticals in a research note on Wednesday, September 7th. They set a “market perform” rating on the stock. Piper Jaffray Cos. reissued an “overweight” rating and set a $81.00 price objective 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 given a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. Pacira Pharmaceuticals has an average rating of “Buy” and a consensus price target of $74.00.
Pacira Pharmaceuticals (NASDAQ:PCRX) opened at 40.37 on Wednesday. Pacira Pharmaceuticals has a 52 week low of $31.08 and a 52 week high of $80.25. The stock’s market cap is $1.50 billion. The firm’s 50-day moving average price is $41.65 and its 200-day moving average price is $45.42.
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Pacira Pharmaceuticals (NASDAQ:PCRX) last issued its quarterly earnings data on Thursday, August 4th. The company reported $0.19 earnings per share for the quarter, topping 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 had revenue of $69.60 million for the quarter, compared to analysts’ expectations of $67.80 million. During the same period in the previous year, the firm posted $0.20 earnings per share. The firm’s revenue for the quarter was up 17.8% on a year-over-year basis. Equities analysts predict that Pacira Pharmaceuticals will post $0.42 earnings per share for the current fiscal year.
In other Pacira Pharmaceuticals news, President James S. Scibetta sold 25,000 shares of the company’s stock in a transaction on Monday, August 15th. The stock was sold at an average price of $45.21, for a total transaction of $1,130,250.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO David M. Stack sold 15,000 shares of the company’s stock in a transaction 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. Company insiders own 6.90% of the company’s stock.
Hedge funds have recently bought and sold shares of the company. Bouchey Financial Group bought a new stake in Pacira Pharmaceuticals during the fourth quarter worth $349,000. Rhenman & Partners Asset Management bought a new stake in Pacira Pharmaceuticals during the fourth quarter worth $2,688,000. DekaBank Deutsche Girozentrale raised its stake in Pacira Pharmaceuticals by 1.6% in the fourth quarter. DekaBank Deutsche Girozentrale now owns 18,630 shares of the company’s stock worth $1,435,000 after buying an additional 300 shares in the last quarter. Essex Investment Management Co. LLC bought a new stake in Pacira Pharmaceuticals during the fourth quarter worth $630,000. Finally, Magee Thomson Investment Partners LLC raised its stake in Pacira Pharmaceuticals by 31.2% in the fourth quarter. Magee Thomson Investment Partners LLC now owns 177,500 shares of the company’s stock worth $13,630,000 after buying an additional 42,200 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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