Pacira Pharmaceuticals, Inc. (PCRX) Receives Consensus Rating of “Hold” from Analysts
Shares of Pacira Pharmaceuticals, Inc. (NASDAQ:PCRX) have been assigned an average recommendation of “Hold” from the twenty-one analysts that are covering the stock, Marketbeat reports. Two equities research analysts have rated the stock with a sell recommendation, nine have given a hold recommendation and ten have issued a buy recommendation on the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $52.67.
Several equities research analysts recently weighed in on the stock. Zacks Investment Research downgraded shares of Pacira Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Monday. Bank of America Corporation reduced their price target on shares of Pacira Pharmaceuticals from $46.00 to $45.00 and set a “buy” rating for the company in a research report on Wednesday, October 4th. Canaccord Genuity reissued a “buy” rating and set a $44.00 price target (down previously from $48.00) on shares of Pacira Pharmaceuticals in a research report on Sunday, October 1st. Goldman Sachs Group, Inc. (The) assumed coverage on shares of Pacira Pharmaceuticals in a research report on Thursday, September 28th. They set a “neutral” rating and a $41.00 price target for the company. Finally, Needham & Company LLC reissued a “buy” rating on shares of Pacira Pharmaceuticals in a research report on Tuesday, September 26th.
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Pacira Pharmaceuticals (NASDAQ:PCRX) opened at 34.95 on Wednesday. Pacira Pharmaceuticals has a 52 week low of $29.95 and a 52 week high of $58.95. The stock’s market cap is $1.41 billion. The stock has a 50 day moving average price of $36.97 and a 200-day moving average price of $43.10.
Pacira Pharmaceuticals (NASDAQ:PCRX) last announced its quarterly earnings results on Wednesday, August 2nd. The company reported ($0.11) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.05) by ($0.06). The firm had revenue of $70.90 million for the quarter, compared to the consensus estimate 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 last year, the business earned $0.21 EPS. On average, equities analysts anticipate that Pacira Pharmaceuticals will post ($0.18) EPS for the current fiscal year.
In other news, CAO Kristen Marie Williams sold 3,461 shares of Pacira Pharmaceuticals stock in a transaction on Tuesday, August 15th. The shares were sold at an average price of $36.75, for a total transaction of $127,191.75. Following the transaction, the chief accounting officer now owns 21,312 shares in the company, valued at approximately $783,216. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Paul J. Hastings sold 1,044 shares of Pacira Pharmaceuticals stock in a transaction on Tuesday, August 22nd. The stock was sold at an average price of $36.15, for a total transaction of $37,740.60. Following the transaction, the director now owns 3,518 shares in the company, valued at approximately $127,175.70. The disclosure for this sale can be found here. Insiders have sold a total of 33,390 shares of company stock worth $1,215,480 in the last quarter. Corporate insiders own 6.60% of the company’s stock.
Several institutional investors have recently modified their holdings of the company. BlackRock Inc. boosted its stake in shares of Pacira Pharmaceuticals by 9.2% during the 2nd quarter. BlackRock Inc. now owns 3,478,281 shares of the company’s stock worth $165,914,000 after acquiring an additional 294,494 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Pacira Pharmaceuticals by 7.4% during the 2nd quarter. Vanguard Group Inc. now owns 3,072,074 shares of the company’s stock worth $146,538,000 after acquiring an additional 211,982 shares during the last quarter. HealthCor Management L.P. boosted its stake in shares of 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 acquiring an additional 693,799 shares during the last quarter. State Street Corp boosted its stake in shares of Pacira Pharmaceuticals by 1.0% during the 2nd quarter. State Street Corp now owns 1,118,083 shares of the company’s stock worth $53,340,000 after acquiring an additional 10,727 shares during the last quarter. Finally, Macquarie Group Ltd. boosted its stake in shares of Pacira Pharmaceuticals by 1.6% during the 2nd quarter. Macquarie Group Ltd. now owns 1,091,530 shares of the company’s stock worth $52,066,000 after acquiring an additional 16,760 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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