Bank of America Corporation Trims Pacira Pharmaceuticals, Inc. (PCRX) Target Price to $45.00

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.

Analyst Recommendations for Pacira Pharmaceuticals (NASDAQ:PCRX)

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