Wall Street brokerages predict that Pacira Pharmaceuticals Inc (NASDAQ:PCRX) will announce $92.41 million in sales for the current quarter, Zacks reports. Eight analysts have provided estimates for Pacira Pharmaceuticals’ earnings. The highest sales estimate is $95.00 million and the lowest is $89.96 million. Pacira Pharmaceuticals reported sales of $79.08 million during the same quarter last year, which indicates a positive year over year growth rate of 16.9%. The company is expected to issue its next quarterly earnings results on Wednesday, February 27th.
On average, analysts expect that Pacira Pharmaceuticals will report full-year sales of $333.81 million for the current financial year, with estimates ranging from $332.01 million to $337.00 million. For the next financial year, analysts expect that the business will report sales of $382.55 million, with estimates ranging from $351.23 million to $392.30 million. Zacks Investment Research’s sales averages are an average based on a survey of research firms that cover Pacira Pharmaceuticals.
Pacira Pharmaceuticals (NASDAQ:PCRX) last released its earnings results on Thursday, November 1st. The company reported $0.31 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.09) by $0.40. Pacira Pharmaceuticals had a positive return on equity of 2.74% and a negative net margin of 1.30%. The firm had revenue of $83.45 million for the quarter, compared to the consensus estimate of $79.87 million. During the same period in the prior year, the business posted $0.11 earnings per share. The firm’s revenue for the quarter was up 23.9% compared to the same quarter last year.
Several equities analysts recently weighed in on PCRX shares. Barclays increased their target price on Pacira Pharmaceuticals from $40.00 to $50.00 and gave the stock a “buy” rating in a research report on Monday, August 6th. ValuEngine upgraded Pacira Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Friday, August 3rd. Needham & Company LLC upgraded Pacira Pharmaceuticals from a “hold” rating to a “buy” rating and set a $54.00 target price on the stock in a research report on Friday, August 3rd. HC Wainwright reiterated a “buy” rating and set a $52.00 target price on shares of Pacira Pharmaceuticals in a research report on Friday, August 3rd. They noted that the move was a valuation call. Finally, Piper Jaffray Companies set a $48.00 target price on Pacira Pharmaceuticals and gave the stock a “buy” rating in a research report on Thursday, August 2nd. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and ten have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $52.28.
In other Pacira Pharmaceuticals news, VP Lauren Bullaro Riker sold 1,667 shares of the company’s stock in a transaction dated Wednesday, August 22nd. The stock was sold at an average price of $44.48, for a total transaction of $74,148.16. Following the completion of the sale, the vice president now directly owns 10,474 shares in the company, valued at $465,883.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO David M. Stack sold 33,062 shares of the company’s stock in a transaction dated Wednesday, August 15th. The stock was sold at an average price of $47.32, for a total value of $1,564,493.84. The disclosure for this sale can be found here. Insiders have sold 41,502 shares of company stock valued at $1,968,214 over the last 90 days. 5.90% of the stock is currently owned by insiders.
Large investors have recently made changes to their positions in the business. Partner Fund Management L.P. grew its stake in shares of Pacira Pharmaceuticals by 82.5% in the second quarter. Partner Fund Management L.P. now owns 3,110,213 shares of the company’s stock valued at $99,682,000 after buying an additional 1,405,605 shares in the last quarter. Macquarie Group Ltd. grew its stake in shares of Pacira Pharmaceuticals by 49.4% in the second quarter. Macquarie Group Ltd. now owns 2,321,125 shares of the company’s stock valued at $74,392,000 after buying an additional 768,011 shares in the last quarter. Millennium Management LLC grew its stake in shares of Pacira Pharmaceuticals by 18.5% in the second quarter. Millennium Management LLC now owns 1,052,503 shares of the company’s stock valued at $33,733,000 after buying an additional 164,112 shares in the last quarter. Stephens Investment Management Group LLC grew its stake in shares of Pacira Pharmaceuticals by 13.9% in the second quarter. Stephens Investment Management Group LLC now owns 1,198,271 shares of the company’s stock valued at $37,206,000 after buying an additional 146,319 shares in the last quarter. Finally, Chicago Equity Partners LLC acquired a new stake in shares of Pacira Pharmaceuticals in the third quarter valued at about $4,602,000.
NASDAQ PCRX opened at $49.52 on Friday. Pacira Pharmaceuticals has a twelve month low of $26.95 and a twelve month high of $55.00. The stock has a market cap of $2.04 billion, a P/E ratio of -85.38 and a beta of 1.68. The company has a current ratio of 8.66, a quick ratio of 7.83 and a debt-to-equity ratio of 0.95.
About Pacira Pharmaceuticals
Pacira Pharmaceuticals, Inc, a specialty pharmaceutical company, develops, manufactures, and commercializes proprietary pharmaceutical products primarily for use in hospitals and ambulatory surgery centers in the United States. It develops pharmaceutical products based on its proprietary DepoFoam drug delivery technology.
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