Canaccord Genuity Cuts Pacira Pharmaceuticals, Inc. (PCRX) Price Target to $48.00
Pacira Pharmaceuticals, Inc. (NASDAQ:PCRX) had its price objective reduced by Canaccord Genuity from $56.00 to $48.00 in a report issued on Tuesday, Marketbeat Ratings reports. Canaccord Genuity currently has a buy rating on the stock.
A number of other brokerages also recently issued reports on PCRX. Royal Bank Of Canada set a $58.00 price objective on shares of Pacira Pharmaceuticals and gave the stock a buy rating in a research report on Monday, May 15th. Cowen and Company reaffirmed a hold rating on shares of Pacira Pharmaceuticals in a research report on Friday, July 14th. Wedbush reaffirmed an outperform rating and issued a $87.00 price objective on shares of Pacira Pharmaceuticals in a research report on Wednesday, July 19th. Zacks Investment Research downgraded shares of Pacira Pharmaceuticals from a hold rating to a sell rating in a research report on Tuesday, May 2nd. Finally, BidaskClub raised shares of Pacira Pharmaceuticals from a sell rating to a hold rating in a research report on Wednesday, July 5th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have assigned a buy rating to the company. The company presently has an average rating of Hold and an average target price of $53.31.
Pacira Pharmaceuticals (PCRX) opened at 38.10 on Tuesday. Pacira Pharmaceuticals has a 12-month low of $29.95 and a 12-month high of $58.95. The company’s market cap is $1.54 billion. The company’s 50-day moving average price is $40.04 and its 200-day moving average price is $44.92.
Pacira Pharmaceuticals (NASDAQ:PCRX) last posted its earnings results on Wednesday, August 2nd. The company reported ($0.11) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.05) by $0.06. Pacira Pharmaceuticals had a negative return on equity of 12.44% and a negative net margin of 23.36%. The business had revenue of $70.90 million during the quarter, compared to analyst estimates of $73.37 million. During the same quarter in the prior year, the company earned $0.21 EPS. The company’s revenue was up 1.9% on a year-over-year basis. Equities analysts anticipate that Pacira Pharmaceuticals will post ($0.16) earnings per share for the current year.
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In other news, VP Lauren Bullaro Riker sold 601 shares of the stock in a transaction that occurred on Monday, June 5th. The shares were sold at an average price of $43.32, for a total transaction of $26,035.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO David M. Stack sold 28,885 shares of the stock in a transaction that occurred on Tuesday, August 15th. The shares were sold at an average price of $36.37, for a total transaction 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 disclosure for this sale can be found here. Insiders have sold a total of 42,913 shares of company stock valued at $1,628,016 over the last three months. Insiders own 6.60% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. increased its position in Pacira Pharmaceuticals by 28,922.7% in the first quarter. BlackRock Inc. now owns 3,183,787 shares of the company’s stock worth $145,180,000 after buying an additional 3,172,817 shares in the last quarter. HealthCor Management L.P. boosted its stake in shares of Pacira Pharmaceuticals by 63.1% in the second quarter. HealthCor Management L.P. now owns 1,793,799 shares of the company’s stock worth $85,564,000 after buying an additional 693,799 shares during the last quarter. Tudor Investment Corp ET AL acquired a new stake in shares of Pacira Pharmaceuticals during the first quarter worth approximately $22,867,000. Eaton Vance Management acquired a new stake in shares of Pacira Pharmaceuticals during the second quarter worth approximately $19,519,000. Finally, Russell Investments Group Ltd. boosted its stake in shares of Pacira Pharmaceuticals by 3,599.8% in the second quarter. Russell Investments Group Ltd. now owns 283,513 shares of the company’s stock worth $13,524,000 after buying an additional 275,850 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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