Canaccord Genuity Raises Pacira Pharmaceuticals (NASDAQ:PCRX) Price Target to $38.00

Pacira Pharmaceuticals (NASDAQ:PCRX) had its price objective raised by Canaccord Genuity from $33.00 to $38.00 in a research note published on Thursday, November 9th. Canaccord Genuity currently has a hold rating on the stock.

Several other analysts also recently issued reports on PCRX. Cowen reissued a hold rating on shares of Pacira Pharmaceuticals in a research report on Wednesday, August 2nd. Mizuho reissued a buy rating and issued a $53.00 price target (down previously from $54.00) on shares of Pacira Pharmaceuticals in a research report on Tuesday, August 22nd. Goldman Sachs Group assumed coverage on shares of Pacira Pharmaceuticals in a research report on Thursday, September 28th. They issued a neutral rating and a $41.00 price target for the company. HC Wainwright set a $59.00 price objective on shares of Pacira Pharmaceuticals and gave the stock a buy rating in a report on Thursday, August 3rd. Finally, BidaskClub downgraded shares of Pacira Pharmaceuticals from a sell rating to a strong sell rating in a report on Wednesday, August 2nd. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and eight have assigned a buy rating to the company’s stock. Pacira Pharmaceuticals currently has an average rating of Hold and an average target price of $48.57.

Pacira Pharmaceuticals (PCRX) opened at $46.95 on Thursday. The company has a debt-to-equity ratio of 1.03, a current ratio of 6.99 and a quick ratio of 6.24. Pacira Pharmaceuticals has a fifty-two week low of $29.81 and a fifty-two week high of $58.95.

Pacira Pharmaceuticals (NASDAQ:PCRX) last announced its quarterly earnings data on Wednesday, November 8th. The company reported $0.11 EPS for the quarter, topping the consensus estimate 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%. The company’s quarterly revenue was down 1.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.20 EPS. analysts forecast that Pacira Pharmaceuticals will post -0.85 earnings per share for the current fiscal year.

In related news, Director Mark A. Kronenfeld acquired 1,000 shares of the company’s stock in a transaction dated Friday, November 10th. The stock was purchased at an average price of $41.60 per share, with a total value of $41,600.00. Following the completion of the purchase, the director now owns 6,795 shares in the company, valued at approximately $282,672. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Kristen Marie Williams sold 10,000 shares of the stock in a transaction that occurred on Friday, November 17th. The shares were sold at an average price of $40.00, for a total value of $400,000.00. Following the sale, the chief accounting officer now directly owns 23,455 shares of the company’s stock, valued at approximately $938,200. The disclosure for this sale can be found here. Insiders have sold 69,735 shares of company stock valued at $2,692,594 in the last three months. 6.60% of the stock is owned by insiders.

Several institutional investors have recently made changes to their positions in PCRX. Oppenheimer Asset Management Inc. bought a new position in shares of Pacira Pharmaceuticals during the second quarter valued at approximately $114,000. Benjamin F. Edwards & Company Inc. raised its holdings in shares of Pacira Pharmaceuticals by 12.2% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 2,794 shares of the company’s stock valued at $133,000 after acquiring an additional 303 shares in the last quarter. Cubist Systematic Strategies LLC raised its holdings in shares of Pacira Pharmaceuticals by 121.5% during the second quarter. Cubist Systematic Strategies LLC now owns 3,194 shares of the company’s stock valued at $152,000 after acquiring an additional 1,752 shares in the last quarter. QS Investors LLC bought a new position in shares of Pacira Pharmaceuticals during the second quarter valued at approximately $157,000. Finally, Ameritas Investment Partners Inc. raised its holdings in shares of Pacira Pharmaceuticals by 9.6% during the second quarter. Ameritas Investment Partners Inc. now owns 3,449 shares of the company’s stock valued at $165,000 after acquiring an additional 302 shares in the last quarter.

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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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