Bank of America Corporation Lowers Pacira Pharmaceuticals, Inc. (PCRX) Price Target to $45.00
Pacira Pharmaceuticals, Inc. (NASDAQ:PCRX) had its price objective decreased by equities researchers at Bank of America Corporation from $46.00 to $45.00 in a note issued to investors on Wednesday. The brokerage presently has a “buy” rating on the stock. Bank of America Corporation’s price objective suggests a potential upside of 20.16% from the company’s previous close.
A number of other brokerages have also issued reports on PCRX. Wedbush reissued an “outperform” rating and issued a $87.00 target price on shares of Pacira Pharmaceuticals in a research report on Wednesday, August 23rd. Mizuho restated a “buy” rating and set a $54.00 price target on shares of Pacira Pharmaceuticals in a research report on Wednesday, July 26th. ValuEngine lowered Pacira Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Friday, August 4th. BidaskClub cut Pacira Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research note on Wednesday, August 2nd. Finally, Cowen and Company reaffirmed a “hold” rating on shares of Pacira Pharmaceuticals in a research note on Friday, July 14th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and eleven have issued a buy rating to the company’s stock. Pacira Pharmaceuticals has an average rating of “Hold” and an average price target of $52.07.
Shares of Pacira Pharmaceuticals (NASDAQ:PCRX) traded down 2.94% during midday trading on Wednesday, reaching $36.35. The company’s stock had a trading volume of 251,890 shares. The stock’s 50-day moving average is $37.03 and its 200-day moving average is $43.51. Pacira Pharmaceuticals has a one year low of $29.95 and a one year high of $58.95. The company’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 company had revenue of $70.90 million during the quarter, compared to analyst estimates of $73.37 million. Pacira Pharmaceuticals had a negative return on equity of 12.44% and a negative net margin of 23.36%. The business’s revenue was up 1.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.21 earnings per share. On average, equities analysts expect that Pacira Pharmaceuticals will post ($0.17) earnings per share for the current fiscal year.
In other news, Director Paul J. Hastings sold 1,044 shares of Pacira Pharmaceuticals stock in a transaction on Tuesday, August 22nd. The shares were sold at an average price of $36.15, for a total transaction of $37,740.60. Following the completion of the sale, the director now directly owns 3,518 shares of the company’s stock, valued at approximately $127,175.70. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Kristen Marie Williams sold 3,461 shares of Pacira Pharmaceuticals stock in a transaction on Tuesday, August 15th. The stock was sold at an average price of $36.75, for a total transaction of $127,191.75. Following the sale, the chief accounting officer now directly owns 21,312 shares of the company’s stock, valued at $783,216. The disclosure for this sale can be found here. Over the last three months, insiders sold 33,390 shares of company stock worth $1,215,480. Insiders own 6.60% of the company’s stock.
A number of large investors have recently bought and sold shares of PCRX. BlackRock Inc. raised its stake in Pacira Pharmaceuticals by 28,922.7% in the first quarter. BlackRock Inc. now owns 3,183,787 shares of the company’s stock valued at $145,180,000 after buying an additional 3,172,817 shares in the last quarter. Columbus Circle Investors purchased a new stake in Pacira Pharmaceuticals during the 4th quarter worth about $56,726,000. HealthCor Management L.P. lifted its holdings in Pacira Pharmaceuticals by 63.1% during the 2nd quarter. HealthCor Management L.P. now owns 1,793,799 shares of the company’s stock worth $85,564,000 after buying an additional 693,799 shares during the last quarter. Lord Abbett & CO. LLC purchased a new stake in Pacira Pharmaceuticals during the 4th quarter worth about $43,764,000. Finally, Tudor Investment Corp ET AL purchased a new stake in Pacira Pharmaceuticals during the 1st quarter worth about $22,867,000.
Pacira Pharmaceuticals Company Profile
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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