Pacira Pharmaceuticals, Inc. (PCRX) CEO Sells $2,257,650.90 in Stock
Pacira Pharmaceuticals, Inc. (NASDAQ:PCRX) CEO David M. Stack sold 58,885 shares of the firm’s stock in a transaction dated Wednesday, November 15th. The stock was sold at an average price of $38.34, for a total value of $2,257,650.90. Following the completion of the transaction, the chief executive officer now owns 159,164 shares of the company’s stock, valued at approximately $6,102,347.76. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.
Shares of Pacira Pharmaceuticals, Inc. (NASDAQ:PCRX) traded up $0.75 during midday trading on Friday, hitting $40.25. The company had a trading volume of 715,964 shares, compared to its average volume of 843,788. The company has a debt-to-equity ratio of 1.03, a quick ratio of 6.24 and a current ratio of 6.99. Pacira Pharmaceuticals, Inc. has a 52 week low of $29.81 and a 52 week high of $58.95.
Pacira Pharmaceuticals (NASDAQ:PCRX) last announced its quarterly earnings data on Wednesday, November 8th. The company reported $0.11 earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.04) by $0.15. The company had revenue of $67.30 million for the quarter, compared to analysts’ expectations of $68.99 million. Pacira Pharmaceuticals had a negative return on equity of 13.77% and a negative net margin of 18.25%. Pacira Pharmaceuticals’s revenue for the quarter was down 1.6% compared to the same quarter last year. During the same period last year, the firm posted $0.20 EPS. equities analysts expect that Pacira Pharmaceuticals, Inc. will post -0.87 earnings per share for the current year.
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Several brokerages have commented on PCRX. Oppenheimer Holdings, Inc. restated a “hold” rating on shares of Pacira Pharmaceuticals in a research note on Thursday, November 9th. Cowen and Company restated a “hold” rating on shares of Pacira Pharmaceuticals in a research note on Wednesday, August 2nd. Jefferies Group LLC dropped their price target on Pacira Pharmaceuticals to $52.00 and set a “buy” rating for the company in a research report on Thursday, November 9th. HC Wainwright reiterated a “buy” rating and set a $52.00 price target on shares of Pacira Pharmaceuticals in a research report on Thursday, November 9th. Finally, Canaccord Genuity lifted their price target on Pacira Pharmaceuticals from $33.00 to $38.00 and gave the company a “hold” rating in a research report on Thursday, November 9th. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating and nine have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $49.71.
Several hedge funds and other institutional investors have recently made changes to their positions in PCRX. BlackRock Inc. raised its holdings in shares of Pacira Pharmaceuticals by 28,922.7% during the 1st quarter. BlackRock Inc. now owns 3,183,787 shares of the company’s stock valued at $145,180,000 after buying an additional 3,172,817 shares in the last quarter. HealthCor Management L.P. increased its stake in Pacira Pharmaceuticals by 63.1% in the 2nd 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 period. Eaton Vance Management purchased a new position in Pacira Pharmaceuticals in the 2nd quarter worth approximately $19,519,000. Mesirow Financial Investment Management Equity Management purchased a new position in Pacira Pharmaceuticals in the 3rd quarter worth approximately $14,671,000. Finally, Stonepine Capital Management LLC purchased a new position in Pacira Pharmaceuticals in the 3rd quarter worth approximately $14,089,000. 99.64% of the stock is currently owned by institutional investors.
Pacira Pharmaceuticals Company Profile
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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