Cowen and Company Reiterates “Hold” Rating for Pacira Pharmaceuticals, Inc. (PCRX)
PCRX has been the subject of a number of other research reports. BMO Capital Markets raised Pacira Pharmaceuticals from an underperform rating to a market perform rating and reduced their target price for the company from $36.00 to $35.00 in a report on Thursday, October 27th. They noted that the move was a valuation call. Jefferies Group LLC reaffirmed a buy rating and set a $53.00 target price on shares of Pacira Pharmaceuticals in a report on Wednesday, December 7th. Zacks Investment Research lowered Pacira Pharmaceuticals from a buy rating to a sell rating in a report on Friday, October 21st. Wedbush reaffirmed an outperform rating and set a $89.00 target price on shares of Pacira Pharmaceuticals in a report on Thursday, January 5th. Finally, HC Wainwright set a $48.00 target price on Pacira Pharmaceuticals and gave the company a buy rating in a report on Wednesday, January 25th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the company’s stock. The company has a consensus rating of Hold and an average price target of $59.36.
Pacira Pharmaceuticals (NASDAQ:PCRX) opened at 36.45 on Wednesday. The company’s market cap is $1.36 billion. The company has a 50-day moving average of $35.59 and a 200-day moving average of $36.65. Pacira Pharmaceuticals has a one year low of $29.95 and a one year high of $65.64.
Pacira Pharmaceuticals (NASDAQ:PCRX) last posted its earnings results on Wednesday, November 2nd. The company reported $0.20 earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.02) by $0.22. The business earned $68.40 million during the quarter, compared to analyst estimates of $67.16 million. Pacira Pharmaceuticals had a negative return on equity of 1.52% and a negative net margin of 13.37%. The company’s quarterly revenue was up 10.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.32 EPS. Equities research analysts expect that Pacira Pharmaceuticals will post $0.54 EPS for the current fiscal year.
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In other Pacira Pharmaceuticals news, CEO David M. Stack sold 15,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 17th. The stock was sold at an average price of $38.41, for a total value of $576,150.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, President James S. Scibetta sold 20,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 17th. The stock was sold at an average price of $38.53, for a total value of $770,600.00. Following the completion of the sale, the president now directly owns 29,457 shares of the company’s stock, valued at approximately $1,134,978.21. The disclosure for this sale can be found here. 6.90% of the stock is owned by corporate insiders.
A number of hedge funds have recently made changes to their positions in PCRX. Bank of Montreal Can bought a new stake in shares of Pacira Pharmaceuticals during the second quarter valued at $6,467,000. Alps Advisors Inc. increased its stake in shares of Pacira Pharmaceuticals by 25.3% in the second quarter. Alps Advisors Inc. now owns 52,212 shares of the company’s stock valued at $1,761,000 after buying an additional 10,542 shares during the last quarter. Rice Hall James & Associates LLC increased its stake in shares of Pacira Pharmaceuticals by 3.0% in the second quarter. Rice Hall James & Associates LLC now owns 73,701 shares of the company’s stock valued at $2,486,000 after buying an additional 2,143 shares during the last quarter. Public Employees Retirement Association of Colorado increased its stake in shares of Pacira Pharmaceuticals by 1,041.9% in the second quarter. Public Employees Retirement Association of Colorado now owns 90,199 shares of the company’s stock valued at $3,042,000 after buying an additional 82,300 shares during the last quarter. Finally, Quantitative Systematic Strategies LLC bought a new stake in shares of Pacira Pharmaceuticals during the second quarter valued at $299,000.
About Pacira Pharmaceuticals
Pacira Pharmaceuticals, Inc is a specialty pharmaceutical company. The Company is focused on the development, commercialization and manufacture of pharmaceutical products, based on its DepoFoam drug delivery technology, for use in hospitals and ambulatory surgery centers. Its primary focus lies in the development of non-opioid products for postsurgical pain control.
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