Pacira Pharmaceuticals, Inc. (PCRX) Given Buy Rating at Royal Bank Of Canada
Pacira Pharmaceuticals, Inc. (NASDAQ:PCRX)‘s stock had its “buy” rating restated by Royal Bank Of Canada in a research report issued on Friday. They currently have a $54.00 price target on the stock. Royal Bank Of Canada’s price target indicates a potential upside of 57.89% from the stock’s previous close.
Several other research analysts have also weighed in on PCRX. Cowen and Company reaffirmed a “hold” rating on shares of Pacira Pharmaceuticals in a research note on Wednesday, August 2nd. Mizuho reaffirmed a “buy” rating and set a $53.00 target price (down previously from $54.00) on shares of Pacira Pharmaceuticals in a research note on Tuesday, August 22nd. Goldman Sachs Group, Inc. (The) assumed coverage on shares of Pacira Pharmaceuticals in a research note on Thursday, September 28th. They set a “neutral” rating and a $41.00 target price for the company. Zacks Investment Research raised shares of Pacira Pharmaceuticals from a “hold” rating to a “buy” rating and set a $42.00 target price for the company in a research note on Tuesday, October 3rd. Finally, Canaccord Genuity reaffirmed a “buy” rating and set a $44.00 target price (down previously from $48.00) on shares of Pacira Pharmaceuticals in a research note on Sunday, October 1st. 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 stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $52.07.
Pacira Pharmaceuticals (NASDAQ:PCRX) last announced its 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 company had revenue of $70.90 million for the quarter, compared to analysts’ expectations of $73.37 million. Pacira Pharmaceuticals had a negative return on equity of 12.44% and a negative net margin of 23.36%. The company’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same period last year, the business earned $0.21 EPS.
In related news, CEO David M. Stack sold 28,885 shares of the firm’s stock in a transaction that occurred on Tuesday, August 15th. The shares were sold at an average price of $36.37, for a total value of $1,050,547.45. Following the sale, the chief executive officer now owns 159,164 shares of the company’s stock, valued at $5,788,794.68. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CAO Kristen Marie Williams sold 3,461 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the chief accounting officer now directly owns 21,312 shares in the company, valued at approximately $783,216. The disclosure for this sale can be found here. In the last ninety days, insiders sold 33,390 shares of company stock worth $1,215,480. 6.60% of the stock is owned by corporate insiders.
Large investors have recently modified their holdings of the stock. BNP Paribas Arbitrage SA raised its holdings in Pacira Pharmaceuticals by 111.3% in the third quarter. BNP Paribas Arbitrage SA now owns 3,051 shares of the company’s stock valued at $104,000 after acquiring an additional 1,607 shares in the last quarter. Benjamin F. Edwards & Company Inc. raised its holdings in Pacira Pharmaceuticals by 85.6% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 2,491 shares of the company’s stock valued at $114,000 after acquiring an additional 1,149 shares in the last quarter. Oppenheimer Asset Management Inc. acquired a new stake in Pacira Pharmaceuticals in the second quarter valued at approximately $114,000. BlackRock Inc. raised its holdings in Pacira Pharmaceuticals by 122.7% in the first quarter. BlackRock Inc. now owns 2,497 shares of the company’s stock valued at $133,000 after acquiring an additional 1,376 shares in the last quarter. Finally, FNY Partners Fund LP acquired a new stake in Pacira Pharmaceuticals in the first quarter valued at approximately $136,000.
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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