Pacira Pharmaceuticals, Inc. (NASDAQ:PCRX) was downgraded by analysts at Canaccord Genuity to a “hold” rating in a note issued to investors on Monday. They presently have a $33.00 price objective on the stock. Canaccord Genuity’s price target points to a potential downside of 0.60% from the company’s previous close.

Other equities research analysts also recently issued research reports about the stock. BMO Capital Markets decreased their price target on shares of Pacira Pharmaceuticals from $42.00 to $40.00 and set a “market perform” rating on the stock in a research note on Thursday, August 3rd. ValuEngine downgraded shares of Pacira Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Friday, August 4th. HC Wainwright set a $59.00 price target on shares of Pacira Pharmaceuticals and gave the company a “buy” rating in a research note on Thursday, August 3rd. Janney Montgomery Scott raised shares of Pacira Pharmaceuticals from a “sell” rating to a “neutral” rating and set a $31.00 price target on the stock in a research note on Monday, August 21st. Finally, Zacks Investment Research raised shares of Pacira Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Friday, August 11th. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $50.43.

Pacira Pharmaceuticals (PCRX) opened at 33.20 on Monday. The company’s market cap is $1.34 billion. The company’s 50 day moving average is $35.79 and its 200 day moving average is $41.94. Pacira Pharmaceuticals has a 12-month low of $29.81 and a 12-month high of $58.95.

Pacira Pharmaceuticals (NASDAQ:PCRX) last released its quarterly earnings results on Wednesday, August 2nd. The company reported ($0.11) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.05) by ($0.06). The business 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 for the quarter was up 1.9% compared to the same quarter last year. During the same period in the previous year, the company earned $0.21 EPS. Analysts forecast that Pacira Pharmaceuticals will post ($0.22) 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 company’s stock in a transaction dated Tuesday, August 22nd. The shares were sold at an average price of $36.15, for a total value of $37,740.60. Following the transaction, the director now directly owns 3,518 shares in the company, valued at $127,175.70. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Kristen Marie Williams sold 3,461 shares of the company’s stock in a transaction dated Tuesday, August 15th. The stock was sold at an average price of $36.75, for a total transaction of $127,191.75. Following the completion of the transaction, the chief accounting officer now owns 21,312 shares in the company, valued at $783,216. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 33,390 shares of company stock worth $1,215,480. Company insiders own 6.60% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of PCRX. BlackRock Inc. grew its holdings in shares of Pacira Pharmaceuticals by 28,922.7% in the first quarter. BlackRock Inc. now owns 3,183,787 shares of the company’s stock worth $145,180,000 after purchasing an additional 3,172,817 shares during the last quarter. Columbus Circle Investors bought a new position in shares of Pacira Pharmaceuticals in the fourth quarter worth about $56,726,000. HealthCor Management L.P. grew its holdings in shares of Pacira Pharmaceuticals by 63.1% in the second quarter. HealthCor Management L.P. now owns 1,793,799 shares of the company’s stock worth $85,564,000 after purchasing an additional 693,799 shares during the last quarter. Lord Abbett & CO. LLC bought a new position in shares of Pacira Pharmaceuticals in the fourth quarter worth about $43,764,000. Finally, Tudor Investment Corp ET AL bought a new position in shares of Pacira Pharmaceuticals in the first quarter worth about $22,867,000.

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.

Analyst Recommendations for Pacira Pharmaceuticals (NASDAQ:PCRX)

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