HC Wainwright Reaffirms “Buy” Rating for Pacira Pharmaceuticals, Inc. (PCRX)
HC Wainwright restated their buy rating on shares of Pacira Pharmaceuticals, Inc. (NASDAQ:PCRX) in a research report report published on Thursday morning, Marketbeat.com reports. They currently have a $52.00 target price on the stock.
Other equities analysts have also issued research reports about the stock. BMO Capital Markets cut their price target on shares of Pacira Pharmaceuticals from $42.00 to $40.00 and set a market perform rating on the stock in a report on Thursday, August 3rd. Canaccord Genuity reiterated a buy rating and set a $56.00 price target on shares of Pacira Pharmaceuticals in a report on Monday, July 31st. ValuEngine lowered shares of Pacira Pharmaceuticals from a hold rating to a sell rating in a report on Friday, August 4th. Jefferies Group LLC cut their price target on shares of Pacira Pharmaceuticals to $52.00 and set a buy rating on the stock in a report on Thursday. Finally, Janney Montgomery Scott upgraded shares of Pacira Pharmaceuticals from a sell rating to a neutral rating and set a $31.00 price target on the stock in a report on Monday, August 21st. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have given a buy rating to the stock. Pacira Pharmaceuticals currently has an average rating of Hold and a consensus target price of $49.71.
Pacira Pharmaceuticals (NASDAQ PCRX) traded up $1.90 during midday trading on Thursday, hitting $42.05. 787,300 shares of the company’s stock were exchanged, compared to its average volume of 927,270. Pacira Pharmaceuticals has a 12-month low of $29.81 and a 12-month high of $58.95. The company has a current ratio of 6.99, a quick ratio of 7.26 and a debt-to-equity ratio of 1.03.
Pacira Pharmaceuticals (NASDAQ:PCRX) last issued its quarterly earnings results on Wednesday, November 8th. The company reported $0.11 EPS for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.15. The company had revenue of $67.30 million for the quarter, compared to analyst estimates of $68.99 million. Pacira Pharmaceuticals had a negative net margin of 18.25% and a negative return on equity of 13.77%. Pacira Pharmaceuticals’s revenue was down 1.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.20 earnings per share. sell-side analysts predict that Pacira Pharmaceuticals will post -0.96 earnings per share for the current year.
In other Pacira Pharmaceuticals news, CAO Kristen Marie Williams sold 3,461 shares of Pacira Pharmaceuticals stock in a transaction on Tuesday, August 15th. The shares were sold at an average price of $36.75, for a total value of $127,191.75. Following the completion of the sale, the chief accounting officer now directly owns 21,312 shares of the company’s stock, valued at $783,216. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Paul J. Hastings sold 1,044 shares of Pacira Pharmaceuticals stock in a transaction on Tuesday, August 22nd. The shares were sold at an average price of $36.15, for a total transaction of $37,740.60. Following the completion of the sale, the director now directly owns 3,518 shares of the company’s stock, valued at $127,175.70. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 33,390 shares of company stock valued at $1,215,480. Insiders own 6.60% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of PCRX. Principal Financial Group Inc. bought a new stake in Pacira Pharmaceuticals in the first quarter valued at $237,000. Teachers Advisors LLC increased its stake in Pacira Pharmaceuticals by 238.5% in the first quarter. Teachers Advisors LLC now owns 212,792 shares of the company’s stock valued at $9,703,000 after purchasing an additional 149,938 shares in the last quarter. TIAA CREF Investment Management LLC increased its stake in Pacira Pharmaceuticals by 25.8% in the first quarter. TIAA CREF Investment Management LLC now owns 136,167 shares of the company’s stock valued at $6,209,000 after purchasing an additional 27,942 shares in the last quarter. Vanguard Group Inc. increased its stake in Pacira Pharmaceuticals by 4.1% in the first quarter. Vanguard Group Inc. now owns 2,860,092 shares of the company’s stock valued at $130,420,000 after purchasing an additional 112,853 shares in the last quarter. Finally, Geode Capital Management LLC increased its stake in Pacira Pharmaceuticals by 5.3% in the first quarter. Geode Capital Management LLC now owns 367,089 shares of the company’s stock valued at $16,739,000 after purchasing an additional 18,559 shares in 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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