Leerink Swann Comments on Pacira Pharmaceuticals, Inc.’s FY2022 Earnings (PCRX)
Pacira Pharmaceuticals, Inc. (NASDAQ:PCRX) – Equities researchers at Leerink Swann issued their FY2022 earnings per share estimates for Pacira Pharmaceuticals in a research note issued on Tuesday. Leerink Swann analyst A. Fadia forecasts that the company will post earnings per share of $2.40 for the year. Leerink Swann currently has a “Market Perform” rating and a $46.00 price target on the stock.
A number of other brokerages have also recently weighed in on PCRX. Mizuho cut shares of Pacira Pharmaceuticals from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $53.00 to $44.00 in a report on Wednesday, November 29th. Royal Bank of Canada set a $54.00 target price on shares of Pacira Pharmaceuticals and gave the stock a “buy” rating in a report on Thursday. Canaccord Genuity set a $46.00 price objective on shares of Pacira Pharmaceuticals and gave the stock a “buy” rating in a research note on Thursday. JPMorgan Chase & Co. reaffirmed a “hold” rating on shares of Pacira Pharmaceuticals in a research note on Thursday. Finally, HC Wainwright set a $55.00 price objective on shares of Pacira Pharmaceuticals and gave the stock a “buy” rating in a research note on Thursday. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and ten have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $49.00.
Pacira Pharmaceuticals (NASDAQ:PCRX) last issued its earnings results on Wednesday, November 8th. The company reported $0.11 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.04) by $0.15. The firm had revenue of $67.30 million during the quarter, compared to analysts’ expectations of $68.99 million. Pacira Pharmaceuticals had a negative net margin of 18.25% and a negative return on equity of 13.77%. The firm’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 earnings per share.
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. BlackRock Inc. raised its holdings in Pacira Pharmaceuticals by 9.2% in the 2nd quarter. BlackRock Inc. now owns 3,478,281 shares of the company’s stock worth $165,914,000 after acquiring an additional 294,494 shares during the period. Vanguard Group Inc. raised its holdings in Pacira Pharmaceuticals by 7.4% in the 2nd quarter. Vanguard Group Inc. now owns 3,072,074 shares of the company’s stock worth $146,538,000 after acquiring an additional 211,982 shares during the period. HealthCor Management L.P. raised its holdings 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 acquiring an additional 693,799 shares during the period. Westfield Capital Management Co. LP raised its holdings in Pacira Pharmaceuticals by 5.3% in the 3rd quarter. Westfield Capital Management Co. LP now owns 1,285,850 shares of the company’s stock worth $48,284,000 after acquiring an additional 64,510 shares during the period. Finally, Macquarie Group Ltd. raised its holdings in Pacira Pharmaceuticals by 5.8% in the 3rd quarter. Macquarie Group Ltd. now owns 1,154,545 shares of the company’s stock worth $43,353,000 after acquiring an additional 63,015 shares during the period.
In other news, SVP James B. Jones sold 850 shares of the firm’s stock in a transaction on Monday, November 20th. The shares were sold at an average price of $41.11, for a total transaction of $34,943.50. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO David M. Stack sold 58,885 shares of the firm’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 transaction, the chief executive officer now owns 159,164 shares in the company, valued at approximately $6,102,347.76. The disclosure for this sale can be found here. Insiders have sold a total of 70,075 shares of company stock worth $2,707,452 in the last 90 days. 6.60% of the stock is owned by insiders.
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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