Q3 2017 EPS Estimates for Pacira Pharmaceuticals, Inc. Reduced by Analyst (PCRX)
Pacira Pharmaceuticals, Inc. (NASDAQ:PCRX) – Equities researchers at Oppenheimer Holdings decreased their Q3 2017 earnings per share (EPS) estimates for Pacira Pharmaceuticals in a note issued to investors on Monday. Oppenheimer Holdings analyst D. Archila now forecasts that the company will earn ($0.29) per share for the quarter, down from their prior estimate of ($0.24). Oppenheimer Holdings has a “Market Perform” rating on the stock. Oppenheimer Holdings also issued estimates for Pacira Pharmaceuticals’ Q4 2017 earnings at ($0.22) EPS and FY2017 earnings at ($1.18) EPS.
Pacira Pharmaceuticals (NASDAQ:PCRX) last issued its earnings results on Wednesday, August 2nd. The company reported ($0.11) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.06). Pacira Pharmaceuticals had a negative return on equity of 12.44% and a negative net margin of 23.36%. The firm had revenue of $70.90 million during the quarter, compared to the consensus estimate of $73.37 million. During the same quarter in the prior year, the business earned $0.21 earnings per share. Pacira Pharmaceuticals’s revenue for the quarter was up 1.9% on a year-over-year basis. COPYRIGHT VIOLATION NOTICE: This piece was originally reported by American Banking News and is the property of of American Banking News. If you are reading this piece on another site, it was stolen and republished in violation of U.S. and international copyright & trademark laws. The original version of this piece can be read at https://www.americanbankingnews.com/2017/10/12/q3-2017-eps-estimates-for-pacira-pharmaceuticals-inc-reduced-by-analyst-pcrx.html.
PCRX has been the topic of several other reports. Zacks Investment Research cut Pacira Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Monday. Canaccord Genuity reduced their price target on Pacira Pharmaceuticals from $56.00 to $48.00 and set a “buy” rating on the stock in a research note on Tuesday, August 29th. CIBC initiated coverage on Pacira Pharmaceuticals in a research note on Thursday, September 7th. They issued a “market perform” rating on the stock. Needham & Company LLC reaffirmed a “buy” rating on shares of Pacira Pharmaceuticals in a research note on Tuesday, September 26th. Finally, Mizuho reaffirmed a “buy” rating and issued a $54.00 price target on shares of Pacira Pharmaceuticals in a research note on Wednesday, July 26th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and ten have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $52.07.
Pacira Pharmaceuticals (NASDAQ:PCRX) opened at 34.40 on Thursday. Pacira Pharmaceuticals has a one year low of $29.95 and a one year high of $58.95. The company has a 50 day moving average price of $36.93 and a 200-day moving average price of $43.03. The company’s market capitalization is $1.39 billion.
Several large investors have recently made changes to their positions in the company. BlackRock Inc. lifted its holdings in shares of Pacira Pharmaceuticals by 9.2% during the second quarter. BlackRock Inc. now owns 3,478,281 shares of the company’s stock valued at $165,914,000 after purchasing an additional 294,494 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Pacira Pharmaceuticals by 7.4% during the second quarter. Vanguard Group Inc. now owns 3,072,074 shares of the company’s stock valued at $146,538,000 after purchasing an additional 211,982 shares in the last quarter. HealthCor Management L.P. lifted its holdings in shares of Pacira Pharmaceuticals by 63.1% during the second quarter. HealthCor Management L.P. now owns 1,793,799 shares of the company’s stock valued at $85,564,000 after purchasing an additional 693,799 shares in the last quarter. State Street Corp lifted its holdings in shares of Pacira Pharmaceuticals by 1.0% during the second quarter. State Street Corp now owns 1,118,083 shares of the company’s stock valued at $53,340,000 after purchasing an additional 10,727 shares in the last quarter. Finally, Macquarie Group Ltd. lifted its holdings in shares of Pacira Pharmaceuticals by 1.6% during the second quarter. Macquarie Group Ltd. now owns 1,091,530 shares of the company’s stock valued at $52,066,000 after purchasing an additional 16,760 shares in the last quarter.
In other Pacira Pharmaceuticals news, Director Paul J. Hastings sold 1,044 shares of the business’s stock in a transaction on Tuesday, August 22nd. The stock was sold at an average price of $36.15, for a total value of $37,740.60. Following the sale, the director now directly owns 3,518 shares of the company’s stock, valued at $127,175.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO David M. Stack sold 28,885 shares of the business’s stock in a transaction on Tuesday, August 15th. The stock was sold at an average price of $36.37, for a total value of $1,050,547.45. Following the completion of the sale, the chief executive officer now directly owns 159,164 shares in the company, valued at $5,788,794.68. The disclosure for this sale can be found here. Insiders sold 33,390 shares of company stock worth $1,215,480 over the last three months. Corporate insiders own 6.60% of the company’s stock.
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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