Pacira Pharmaceuticals, Inc. (PCRX) Receives Buy Rating from Jefferies Group LLC
Pacira Pharmaceuticals, Inc. (NASDAQ:PCRX)‘s stock had its “buy” rating reiterated by equities research analysts at Jefferies Group LLC in a research note issued on Thursday. They presently have a $59.00 target price on the stock. Jefferies Group LLC’s price objective would suggest a potential upside of 62.09% from the stock’s current price.
PCRX has been the subject of several other research reports. Canaccord Genuity reduced their price objective on shares of Pacira Pharmaceuticals from $56.00 to $48.00 and set a “buy” rating for the company in a research note on Tuesday, August 29th. Mizuho reaffirmed a “buy” rating and set a $54.00 price objective on shares of Pacira Pharmaceuticals in a research note on Wednesday, July 26th. Royal Bank Of Canada set a $58.00 price objective on shares of Pacira Pharmaceuticals and gave the company a “buy” rating in a research note on Sunday, July 30th. Cowen and Company reaffirmed a “hold” rating on shares of Pacira Pharmaceuticals in a research note on Wednesday, August 2nd. Finally, Wedbush reaffirmed an “outperform” rating and set a $87.00 price objective on shares of Pacira Pharmaceuticals in a research note on Wednesday, July 19th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and nine have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $52.92.
Shares of Pacira Pharmaceuticals (NASDAQ:PCRX) traded down 2.02% during mid-day trading on Thursday, hitting $36.40. 346,060 shares of the stock were exchanged. Pacira Pharmaceuticals has a 52 week low of $29.95 and a 52 week high of $58.95. The stock’s 50-day moving average is $38.74 and its 200-day moving average is $44.82. The stock’s market capitalization is $1.47 billion.
Pacira Pharmaceuticals (NASDAQ:PCRX) last issued its quarterly earnings data on Wednesday, August 2nd. The company reported ($0.11) EPS for the quarter, missing the consensus estimate of ($0.05) by $0.06. The firm had revenue of $70.90 million for the quarter, compared to analysts’ expectations of $73.37 million. Pacira Pharmaceuticals had a negative net margin of 23.36% and a negative return on equity of 12.44%. Pacira Pharmaceuticals’s revenue was up 1.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.21 EPS. Analysts forecast that Pacira Pharmaceuticals will post ($0.17) earnings per share for the current fiscal year.
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In other news, Director Paul J. Hastings sold 1,044 shares of the business’s stock in a transaction that occurred on Tuesday, August 22nd. The shares were sold at an average price of $36.15, for a total value of $37,740.60. Following the completion of the sale, the director now directly owns 3,518 shares in the company, valued at approximately $127,175.70. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO David M. Stack sold 28,885 shares of the business’s stock in a transaction that occurred on Tuesday, August 15th. The stock was sold at an average price of $36.37, for a total transaction of $1,050,547.45. Following the completion of the sale, the chief executive officer now owns 159,164 shares of the company’s stock, valued at $5,788,794.68. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 33,390 shares of company stock valued at $1,215,480. Company insiders own 6.60% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in PCRX. BlackRock Inc. lifted its holdings in shares of Pacira Pharmaceuticals by 28,922.7% in the 1st quarter. BlackRock Inc. now owns 3,183,787 shares of the company’s stock worth $145,180,000 after acquiring an additional 3,172,817 shares during the last quarter. HealthCor Management L.P. lifted its holdings in shares of Pacira Pharmaceuticals by 63.1% in the 2nd quarter. HealthCor Management L.P. now owns 1,793,799 shares of the company’s stock worth $85,564,000 after acquiring an additional 693,799 shares during the last quarter. Tudor Investment Corp ET AL bought a new stake in shares of Pacira Pharmaceuticals in the 1st quarter worth approximately $22,867,000. Eaton Vance Management bought a new stake in shares of Pacira Pharmaceuticals in the 2nd quarter worth approximately $19,519,000. Finally, Russell Investments Group Ltd. lifted its holdings in shares of Pacira Pharmaceuticals by 3,599.8% in the 2nd quarter. Russell Investments Group Ltd. now owns 283,513 shares of the company’s stock worth $13,524,000 after acquiring an additional 275,850 shares during the last quarter.
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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