Pacira Pharmaceuticals, Inc. (PCRX) Cut to Hold at Canaccord Genuity
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.
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