Pacira Pharmaceuticals (NASDAQ:PCRX)‘s stock had its “hold” rating reiterated by stock analysts at JPMorgan Chase & Co. in a note issued to investors on Thursday.
A number of other equities research analysts also recently issued reports on the stock. CIBC initiated coverage on shares of Pacira Pharmaceuticals in a research report on Thursday, September 7th. They set a “market perform” rating for the company. UBS Group initiated coverage on shares of Pacira Pharmaceuticals in a research report on Wednesday, September 6th. They set a “market perform” rating for the company. Zacks Investment Research downgraded shares of Pacira Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Monday, October 9th. Bank of America reduced their price target on shares of Pacira Pharmaceuticals from $46.00 to $45.00 and set a “buy” rating for the company in a research report on Wednesday, October 4th. Finally, Janney Montgomery Scott downgraded shares of Pacira Pharmaceuticals from a “neutral” rating to a “sell” rating and set a $27.00 price target for the company. in a research report on Thursday, October 26th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and ten have issued a buy rating to the company. Pacira Pharmaceuticals presently has a consensus rating of “Hold” and an average target price of $49.00.
Pacira Pharmaceuticals (PCRX) traded up $0.05 during midday trading on Thursday, hitting $46.35. The company had a trading volume of 1,064,500 shares, compared to its average volume of 928,800. 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 has a 52-week low of $29.81 and a 52-week high of $58.95. The stock has a market capitalization of $1,740.00, a price-to-earnings ratio of -35.38 and a beta of 2.20.
In other news, CEO David M. Stack sold 58,885 shares of the business’s stock in a transaction on Wednesday, November 15th. The shares were sold at an average price of $38.34, for a total transaction of $2,257,650.90. Following the completion of the sale, the chief executive officer now directly owns 159,164 shares of the company’s stock, valued at approximately $6,102,347.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Kristen Marie Williams sold 10,000 shares of the business’s stock in a transaction on Friday, November 17th. The shares were sold at an average price of $40.00, for a total transaction of $400,000.00. Following the sale, the chief accounting officer now directly owns 23,455 shares of the company’s stock, valued at $938,200. The disclosure for this sale can be found here. Insiders sold a total of 70,075 shares of company stock valued at $2,707,452 over the last ninety days. 6.60% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Northern Trust Corp grew its stake in shares of Pacira Pharmaceuticals by 9.1% during the 2nd quarter. Northern Trust Corp now owns 505,529 shares of the company’s stock valued at $24,114,000 after buying an additional 42,289 shares during the period. State Street Corp boosted its position in Pacira Pharmaceuticals by 1.0% during the 2nd quarter. State Street Corp now owns 1,118,083 shares of the company’s stock worth $53,340,000 after purchasing an additional 10,727 shares during the period. Baillie Gifford & Co. boosted its position in Pacira Pharmaceuticals by 40.9% during the 2nd quarter. Baillie Gifford & Co. now owns 301,000 shares of the company’s stock worth $14,358,000 after purchasing an additional 87,400 shares during the period. TIAA CREF Investment Management LLC lifted its holdings 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 worth $9,121,000 after buying an additional 55,057 shares in the last quarter. Finally, Stephens Investment Management Group LLC lifted its holdings 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 worth $44,980,000 after buying an additional 45,514 shares in the last quarter.
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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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