FY2017 EPS Estimates for Pacira Pharmaceuticals, Inc. (PCRX) Boosted by Wedbush
Pacira Pharmaceuticals, Inc. (NASDAQ:PCRX) – Wedbush boosted their FY2017 earnings per share (EPS) estimates for Pacira Pharmaceuticals in a research note issued on Monday. Wedbush analyst L. Moussatos now anticipates that the company will earn ($1.08) per share for the year, up from their prior forecast of ($1.18). Wedbush has a “Outperform” rating and a $87.00 price objective on the stock. Wedbush also issued estimates for Pacira Pharmaceuticals’ Q4 2017 earnings at ($0.31) EPS, FY2018 earnings at ($1.32) EPS, FY2019 earnings at ($0.37) EPS and FY2020 earnings at $0.85 EPS.
A number of other equities research analysts have also weighed in on the stock. CIBC initiated coverage on shares of Pacira Pharmaceuticals in a report on Thursday, September 7th. They set a “market perform” rating for the company. UBS Group AG initiated coverage on shares of Pacira Pharmaceuticals in a report on Wednesday, September 6th. They set a “market perform” rating for the company. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $54.00 price target on shares of Pacira Pharmaceuticals in a report on Tuesday, September 5th. Zacks Investment Research lowered shares of Pacira Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Monday, October 9th. Finally, Bank of America Corporation lowered their price target on shares of Pacira Pharmaceuticals from $46.00 to $45.00 and set a “buy” rating for the company in a report on Wednesday, October 4th. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and nine have issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $49.71.
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Pacira Pharmaceuticals (NASDAQ:PCRX) last released its quarterly earnings data on Wednesday, November 8th. The company reported $0.11 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.04) by $0.15. Pacira Pharmaceuticals had a negative net margin of 18.25% and a negative return on equity of 13.77%. The company had revenue of $67.30 million during the quarter, compared to analyst estimates of $68.99 million. During the same quarter in the prior year, the business earned $0.20 earnings per share. The business’s quarterly revenue was down 1.6% compared to the same quarter last year.
Institutional investors have recently bought and sold shares of the company. Northern Trust Corp lifted its position in shares of Pacira Pharmaceuticals by 9.1% in the 2nd quarter. Northern Trust Corp now owns 505,529 shares of the company’s stock worth $24,114,000 after buying an additional 42,289 shares during the last quarter. State Street Corp raised its stake in Pacira Pharmaceuticals by 1.0% in the 2nd quarter. State Street Corp now owns 1,118,083 shares of the company’s stock valued at $53,340,000 after acquiring an additional 10,727 shares during the period. Baillie Gifford & Co. raised its stake in Pacira Pharmaceuticals by 40.9% in the 2nd quarter. Baillie Gifford & Co. now owns 301,000 shares of the company’s stock valued at $14,358,000 after acquiring an additional 87,400 shares during the period. TIAA CREF Investment Management LLC raised its stake in Pacira Pharmaceuticals by 40.4% in the 2nd quarter. TIAA CREF Investment Management LLC now owns 191,224 shares of the company’s stock valued at $9,121,000 after acquiring an additional 55,057 shares during the period. Finally, Stephens Investment Management Group LLC raised its stake in Pacira Pharmaceuticals by 5.1% in the 2nd quarter. Stephens Investment Management Group LLC now owns 942,969 shares of the company’s stock valued at $44,980,000 after acquiring an additional 45,514 shares during the period. Institutional investors own 99.79% of the company’s stock.
In other Pacira Pharmaceuticals news, Director Mark A. Kronenfeld purchased 1,000 shares of Pacira Pharmaceuticals stock in a transaction dated Friday, November 10th. The shares were bought at an average cost of $41.60 per share, for a total transaction of $41,600.00. Following the transaction, the director now owns 6,795 shares in the company, valued at approximately $282,672. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP James B. Jones sold 850 shares of the firm’s stock in a transaction dated Monday, November 20th. The stock was sold at an average price of $41.11, for a total transaction of $34,943.50. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 69,735 shares of company stock worth $2,692,594. Insiders own 6.60% of the company’s stock.
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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