Pacira Pharmaceuticals, Inc. (NASDAQ:PCRX) had its price objective dropped by analysts at Bank of America Corporation from $46.00 to $45.00 in a research note issued to investors on Wednesday, October 4th. The firm currently has a “buy” rating on the stock. Bank of America Corporation’s target price points to a potential upside of 30.25% from the company’s previous close.
Several other equities analysts also recently weighed in on PCRX. ValuEngine upgraded Pacira Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Tuesday, June 20th. Wedbush restated an “outperform” rating and set a $87.00 price target on shares of Pacira Pharmaceuticals in a report on Wednesday, June 21st. Royal Bank Of Canada set a $58.00 price target on Pacira Pharmaceuticals and gave the company a “buy” rating in a report on Tuesday, June 27th. BidaskClub raised Pacira Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Wednesday, July 5th. Finally, Cowen and Company reaffirmed a “hold” rating on shares of Pacira Pharmaceuticals in a research report on Friday, July 14th. Two 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. The stock presently has an average rating of “Hold” and a consensus price target of $52.07.
Shares of Pacira Pharmaceuticals (PCRX) traded down 1.45% during trading on Wednesday, hitting $34.05. 263,596 shares of the company’s stock were exchanged. The stock’s market cap is $1.37 billion. The stock’s 50-day moving average price is $36.83 and its 200-day moving average price is $42.81. Pacira Pharmaceuticals has a 1-year low of $29.95 and a 1-year high of $58.95.
Pacira Pharmaceuticals (NASDAQ:PCRX) last posted its quarterly earnings data on Wednesday, August 2nd. The company reported ($0.11) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.06). The firm had revenue of $70.90 million during the quarter, compared to the consensus estimate of $73.37 million. Pacira Pharmaceuticals had a negative return on equity of 12.44% and a negative net margin of 23.36%. Pacira Pharmaceuticals’s revenue for the quarter was up 1.9% compared to the same quarter last year. During the same quarter last year, the company posted $0.21 EPS. On average, equities analysts expect that Pacira Pharmaceuticals will post ($0.19) earnings per share for the current fiscal year.
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In other news, CEO David M. Stack sold 28,885 shares of the stock in a transaction dated Tuesday, August 15th. The stock was sold at an average price of $36.37, for a total value of $1,050,547.45. Following the transaction, the chief executive officer now directly owns 159,164 shares of the company’s stock, valued at $5,788,794.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Paul J. Hastings sold 1,044 shares of the company’s stock in a transaction dated Tuesday, August 22nd. The stock was sold at an average price of $36.15, for a total value of $37,740.60. Following the completion of the sale, the director now owns 3,518 shares in the company, valued at approximately $127,175.70. The disclosure for this sale can be found here. Over the last three months, insiders sold 33,390 shares of company stock valued at $1,215,480. Corporate insiders own 6.60% of the company’s stock.
Hedge funds have recently modified their holdings of the business. Oppenheimer Asset Management Inc. purchased a new position in Pacira Pharmaceuticals during the second quarter worth 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 during the last quarter. FNY Partners Fund LP acquired a new position in shares of Pacira Pharmaceuticals during the first quarter valued at approximately $136,000. Ameritas Investment Partners Inc. acquired a new stake in shares of Pacira Pharmaceuticals in the first quarter valued at approximately $144,000. Finally, Cubist Systematic Strategies LLC increased its holdings in shares of Pacira Pharmaceuticals by 121.5% in the second quarter. Cubist Systematic Strategies LLC now owns 3,194 shares of the company’s stock valued at $152,000 after purchasing an additional 1,752 shares during the last quarter.
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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