Canaccord Genuity downgraded shares of Pacira Pharmaceuticals, Inc. (NASDAQ:PCRX) from a buy rating to a hold rating in a research report released on Monday morning, MarketBeat reports. Canaccord Genuity currently has $33.00 price objective on the stock, down from their previous price objective of $44.00.

Other equities research analysts also recently issued research reports about the stock. BMO Capital Markets decreased their target price on shares of Pacira Pharmaceuticals from $42.00 to $40.00 and set a market perform rating for the company in a research note on Thursday, August 3rd. ValuEngine downgraded shares of Pacira Pharmaceuticals from a hold rating to a sell rating in a research note on Friday, August 4th. HC Wainwright set a $59.00 target price on shares of Pacira Pharmaceuticals and gave the stock a buy rating in a research note on Thursday, August 3rd. Janney Montgomery Scott upgraded shares of Pacira Pharmaceuticals from a sell rating to a neutral rating and set a $31.00 target price for the company in a research note on Monday, August 21st. Finally, Zacks Investment Research upgraded shares of Pacira Pharmaceuticals from a sell rating to a hold rating in a research note on Friday, August 11th. 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. The stock currently has a consensus rating of Hold and a consensus price target of $50.43.

Pacira Pharmaceuticals (NASDAQ:PCRX) last announced its earnings results on Wednesday, August 2nd. The company reported ($0.11) earnings per share for the quarter, missing the 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 for the quarter, compared to analyst estimates of $73.37 million. During the same quarter last year, the company posted $0.21 EPS. Pacira Pharmaceuticals’s quarterly revenue was up 1.9% on a year-over-year basis.

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In other Pacira Pharmaceuticals news, Director Paul J. Hastings sold 1,044 shares of the stock in a transaction dated Tuesday, August 22nd. The shares were sold at an average price of $36.15, for a total value of $37,740.60. Following the completion of the transaction, the director now directly owns 3,518 shares of the company’s stock, valued at $127,175.70. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CAO Kristen Marie Williams sold 3,461 shares of the stock in a transaction dated Tuesday, August 15th. The shares were sold at an average price of $36.75, for a total transaction of $127,191.75. Following the completion of the transaction, the chief accounting officer now directly owns 21,312 shares of the company’s stock, valued at $783,216. 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. 6.60% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently modified their holdings of PCRX. Oppenheimer Asset Management Inc. purchased a new position in shares of Pacira Pharmaceuticals during the 2nd quarter worth approximately $114,000. Benjamin F. Edwards & Company Inc. increased its stake in shares of Pacira Pharmaceuticals by 12.2% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 2,794 shares of the company’s stock worth $133,000 after purchasing an additional 303 shares in the last quarter. FNY Partners Fund LP purchased a new position in shares of Pacira Pharmaceuticals during the 1st quarter worth approximately $136,000. Cubist Systematic Strategies LLC increased its stake in shares of Pacira Pharmaceuticals by 121.5% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 3,194 shares of the company’s stock worth $152,000 after purchasing an additional 1,752 shares in the last quarter. Finally, QS Investors LLC purchased a new position in shares of Pacira Pharmaceuticals during the 2nd quarter worth approximately $157,000.

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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