Pacira Pharmaceuticals Inc. (PCRX) Price Target Cut to $93.00
Pacira Pharmaceuticals Inc. (NASDAQ:PCRX) had its price target reduced by equities research analysts at Wedbush from $109.00 to $93.00 in a research note issued on Wednesday. The firm currently has an “outperform” rating on the stock. Wedbush’s price target suggests a potential upside of 168.40% from the company’s current price.
Other analysts also recently issued research reports about the stock. Mizuho reissued an “outperform” rating and issued a $64.00 price objective on shares of Pacira Pharmaceuticals in a report on Friday, July 1st. Zacks Investment Research downgraded shares of Pacira Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Friday, July 29th. Piper Jaffray Cos. reissued an “overweight” rating and issued a $81.00 price objective on shares of Pacira Pharmaceuticals in a report on Wednesday, August 3rd. Brean Capital reaffirmed a “hold” rating on shares of Pacira Pharmaceuticals in a report on Friday, August 5th. Finally, BMO Capital Markets reaffirmed a “sell” rating and set a $36.00 price target on shares of Pacira Pharmaceuticals in a report on Friday, August 5th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and seven have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $71.50.
Shares of Pacira Pharmaceuticals (NASDAQ:PCRX) opened at 34.65 on Wednesday. The firm’s market cap is $1.29 billion. The company has a 50 day moving average of $37.40 and a 200-day moving average of $43.27. Pacira Pharmaceuticals has a one year low of $31.08 and a one year high of $80.25.
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Pacira Pharmaceuticals (NASDAQ:PCRX) last posted its quarterly earnings data 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 negative net margin of 4.21% and a positive return on equity of 0.02%. The business’s revenue for the quarter was up 17.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.20 EPS. On average, analysts expect that Pacira Pharmaceuticals will post $0.44 EPS for the current year.
In other Pacira Pharmaceuticals news, CEO David M. Stack sold 15,000 shares of the company’s stock in a transaction that occurred on Monday, August 15th. The shares were sold at an average price of $45.32, for a total value of $679,800.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President James S. Scibetta sold 25,000 shares of the company’s stock in a transaction that occurred on Monday, August 15th. The shares were sold at an average price of $45.21, for a total transaction of $1,130,250.00. The disclosure for this sale can be found here. 6.90% of the stock is currently owned by company insiders.
A number of institutional investors have recently made changes to their positions in PCRX. Fox Run Management L.L.C. boosted its position in shares of Pacira Pharmaceuticals by 0.8% in the third quarter. Fox Run Management L.L.C. now owns 13,400 shares of the company’s stock valued at $459,000 after buying an additional 100 shares during the period. Fisher Asset Management LLC boosted its position in shares of Pacira Pharmaceuticals by 1.4% in the third quarter. Fisher Asset Management LLC now owns 6,282 shares of the company’s stock valued at $215,000 after buying an additional 85 shares during the period. BNP Paribas Arbitrage SA boosted its position in shares of Pacira Pharmaceuticals by 111.3% in the third quarter. BNP Paribas Arbitrage SA now owns 3,051 shares of the company’s stock valued at $104,000 after buying an additional 1,607 shares during the period. American Century Companies Inc. boosted its position in shares of Pacira Pharmaceuticals by 0.3% in the second quarter. American Century Companies Inc. now owns 66,391 shares of the company’s stock valued at $2,239,000 after buying an additional 206 shares during the period. Finally, Legal & General Group Plc boosted its position in shares of Pacira Pharmaceuticals by 16.5% in the second quarter. Legal & General Group Plc now owns 8,985 shares of the company’s stock valued at $322,000 after buying an additional 1,270 shares during the period.
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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