Pacira Pharmaceuticals, Inc. (PCRX) Given Outperform Rating at Wedbush
Pacira Pharmaceuticals, Inc. (NASDAQ:PCRX)‘s stock had its “outperform” rating restated by equities research analysts at Wedbush in a research report issued on Wednesday. They presently have a $87.00 price objective on the stock. Wedbush’s price target would suggest a potential upside of 76.83% from the stock’s current price.
A number of other analysts have also recently commented on the company. Cowen and Company reiterated a “hold” rating on shares of Pacira Pharmaceuticals in a research report on Friday, July 14th. BidaskClub raised Pacira Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Wednesday, July 5th. Royal Bank Of Canada set a $58.00 price target on Pacira Pharmaceuticals and gave the stock a “buy” rating in a report on Tuesday, June 27th. ValuEngine raised Pacira Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Tuesday, June 20th. Finally, Canaccord Genuity set a $60.00 price target on Pacira Pharmaceuticals and gave the stock a “buy” rating in a report on Monday, May 22nd. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and eight have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $55.25.
Shares of Pacira Pharmaceuticals (PCRX) opened at 49.20 on Wednesday. The firm’s 50-day moving average price is $46.49 and its 200 day moving average price is $45.20. The stock’s market cap is $1.97 billion. Pacira Pharmaceuticals has a 1-year low of $29.95 and a 1-year high of $58.95.
Pacira Pharmaceuticals (NASDAQ:PCRX) last posted its earnings results on Thursday, May 4th. The company reported ($0.19) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.23) by $0.04. Pacira Pharmaceuticals had a negative return on equity of 7.71% and a negative net margin of 19.26%. The business had revenue of $69.30 million for the quarter, compared to analysts’ expectations of $70.30 million. During the same quarter in the previous year, the firm earned $0.15 earnings per share. The business’s revenue was up 5.8% compared to the same quarter last year.
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In related news, CAO Kristen Marie Williams sold 21,041 shares of Pacira Pharmaceuticals stock in a transaction that occurred on Monday, May 15th. The stock was sold at an average price of $50.86, for a total transaction of $1,070,145.26. Following the completion of the transaction, the chief accounting officer now directly owns 18,775 shares in the company, valued at approximately $954,896.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO David M. Stack sold 4,311 shares of Pacira Pharmaceuticals stock in a transaction that occurred on Monday, June 5th. The stock was sold at an average price of $43.32, for a total value of $186,752.52. Following the transaction, the chief executive officer now owns 59,559 shares of the company’s stock, valued at $2,580,095.88. The disclosure for this sale can be found here. Insiders have sold a total of 50,564 shares of company stock valued at $2,506,682 over the last 90 days. Insiders own 6.60% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Russell Investments Group Ltd. acquired a new position in shares of Pacira Pharmaceuticals during the fourth quarter valued at $256,000. Renaissance Technologies LLC increased its position in shares of Pacira Pharmaceuticals by 1.6% in the fourth quarter. Renaissance Technologies LLC now owns 25,200 shares of the company’s stock valued at $814,000 after buying an additional 400 shares during the period. Numeric Investors LLC acquired a new position in shares of Pacira Pharmaceuticals during the fourth quarter valued at $239,000. Norges Bank acquired a new position in shares of Pacira Pharmaceuticals during the fourth quarter valued at $13,258,000. Finally, Teachers Advisors LLC increased its position in shares of Pacira Pharmaceuticals by 6.2% in the fourth quarter. Teachers Advisors LLC now owns 62,854 shares of the company’s stock valued at $2,030,000 after buying an additional 3,658 shares during the period.
About Pacira Pharmaceuticals
Pacira Pharmaceuticals, Inc is a holding company. The Company is a pharmaceutical company focused on the development, manufacture and commercialization of pharmaceutical products, based on its DepoFoam extended release drug delivery technology, for use primarily in hospitals and ambulatory surgery centers.
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