Seaport Global Securities Initiates Coverage on Pacira Pharmaceuticals (PCRX)

Equities researchers at Seaport Global Securities started coverage on shares of Pacira Pharmaceuticals (NASDAQ:PCRX) in a note issued to investors on Friday, MarketBeat.com reports. The brokerage set a “buy” rating and a $50.00 price target on the stock. Seaport Global Securities’ price target suggests a potential upside of 29.03% from the company’s current price.

A number of other equities analysts also recently issued reports on the company. BidaskClub downgraded Pacira Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Thursday. ValuEngine raised Pacira Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Wednesday, January 10th. Zacks Investment Research downgraded Pacira Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Tuesday, January 9th. Wedbush reaffirmed a “buy” rating on shares of Pacira Pharmaceuticals in a research report on Friday, January 5th. Finally, HC Wainwright set a $55.00 price target on Pacira Pharmaceuticals and gave the stock a “buy” rating in a research report on Thursday, January 4th. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and ten have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $49.06.

Shares of Pacira Pharmaceuticals (NASDAQ:PCRX) traded down $0.35 during trading hours on Friday, reaching $38.75. 1,014,062 shares of the company were exchanged, compared to its average volume of 628,938. The company has a market capitalization of $1,586.29, a P/E ratio of -29.58 and a beta of 2.20. Pacira Pharmaceuticals has a 52 week low of $29.81 and a 52 week high of $58.95. The company has a quick ratio of 6.24, a current ratio of 6.99 and a debt-to-equity ratio of 1.03.

Pacira Pharmaceuticals (NASDAQ:PCRX) last issued its quarterly earnings data on Wednesday, November 8th. The company reported $0.11 EPS for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.15. The company had revenue of $67.30 million during the quarter, compared to the consensus estimate of $68.99 million. Pacira Pharmaceuticals had a negative net margin of 18.25% and a negative return on equity of 13.77%. Pacira Pharmaceuticals’s revenue for the quarter was down 1.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.20 earnings per share. equities analysts anticipate that Pacira Pharmaceuticals will post -0.85 earnings per share for the current fiscal year.

In other Pacira Pharmaceuticals news, CEO David M. Stack sold 58,885 shares of the company’s stock in a transaction on Wednesday, November 15th. The shares were sold at an average price of $38.34, for a total value of $2,257,650.90. Following the sale, the chief executive officer now directly owns 159,164 shares of the company’s stock, valued at $6,102,347.76. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP James B. Jones sold 850 shares of the company’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 disclosure for this sale can be found here. Insiders have sold 98,960 shares of company stock worth $3,868,341 over the last three months. Corporate insiders own 6.60% of the company’s stock.

A number of large investors have recently bought and sold shares of the business. Bouchey Financial Group Ltd purchased a new stake in Pacira Pharmaceuticals in the fourth quarter valued at $205,000. Public Employees Retirement System of Ohio boosted its holdings in Pacira Pharmaceuticals by 7.5% in the third quarter. Public Employees Retirement System of Ohio now owns 40,174 shares of the company’s stock valued at $1,509,000 after purchasing an additional 2,808 shares during the last quarter. Granahan Investment Management Inc. MA boosted its holdings in Pacira Pharmaceuticals by 19.6% in the third quarter. Granahan Investment Management Inc. MA now owns 168,464 shares of the company’s stock valued at $6,326,000 after purchasing an additional 27,609 shares during the last quarter. Highbridge Capital Management LLC boosted its holdings in Pacira Pharmaceuticals by 4.4% in the third quarter. Highbridge Capital Management LLC now owns 202,700 shares of the company’s stock valued at $7,611,000 after purchasing an additional 8,618 shares during the last quarter. Finally, Cornerstone Capital Management Holdings LLC. purchased a new stake in Pacira Pharmaceuticals in the third quarter valued at $2,267,000.

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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.

Analyst Recommendations for Pacira Pharmaceuticals (NASDAQ:PCRX)

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