Needham & Company LLC reaffirmed their buy rating on shares of Pacira Pharmaceuticals, Inc. (NASDAQ:PCRX) in a research report sent to investors on Tuesday morning.

Other research analysts have also recently issued research reports about the stock. Canaccord Genuity dropped their price target on shares of Pacira Pharmaceuticals from $56.00 to $48.00 and set a buy rating on the stock in a research note on Tuesday, August 29th. CIBC started coverage on shares of Pacira Pharmaceuticals in a research note on Thursday, September 7th. They set a market perform rating on the stock. Mizuho reiterated a buy rating and set a $54.00 price target on shares of Pacira Pharmaceuticals in a research note on Wednesday, July 26th. Jefferies Group LLC reiterated a buy rating and set a $59.00 price target on shares of Pacira Pharmaceuticals in a research note on Thursday, September 7th. Finally, Cowen and Company reiterated a hold rating on shares of Pacira Pharmaceuticals in a research note on Wednesday, August 2nd. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and nine have issued a buy rating to the stock. Pacira Pharmaceuticals has an average rating of Hold and a consensus price target of $53.31.

Pacira Pharmaceuticals (NASDAQ:PCRX) traded down 2.97% during midday trading on Tuesday, hitting $37.55. The company’s stock had a trading volume of 390,999 shares. The firm’s market cap is $1.51 billion. Pacira Pharmaceuticals has a 12 month low of $29.95 and a 12 month high of $58.95. The company’s 50 day moving average price is $36.91 and its 200 day moving average price is $44.24.

Pacira Pharmaceuticals (NASDAQ:PCRX) last posted its earnings results on Wednesday, August 2nd. The company reported ($0.11) EPS for the quarter, missing analysts’ consensus estimates 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 company had revenue of $70.90 million during the quarter, compared to the consensus estimate of $73.37 million. During the same period last year, the firm posted $0.21 EPS. The company’s revenue for the quarter was up 1.9% on a year-over-year basis. Analysts expect that Pacira Pharmaceuticals will post ($0.17) EPS for the current year.

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In related news, CEO David M. Stack sold 28,885 shares of Pacira Pharmaceuticals stock in a transaction 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 owns 159,164 shares in the company, valued at approximately $5,788,794.68. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Kristen Marie Williams sold 3,461 shares of the business’s stock in a transaction on Tuesday, August 15th. The stock was sold at an average price of $36.75, for a total transaction of $127,191.75. Following the completion of the sale, the chief accounting officer now owns 21,312 shares in the company, valued at approximately $783,216. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 33,390 shares of company stock worth $1,215,480. 6.60% of the stock is owned by corporate insiders.

A number of hedge funds have recently made changes to their positions in PCRX. Nationwide Fund Advisors lifted its stake in Pacira Pharmaceuticals by 147.4% in the 1st quarter. Nationwide Fund Advisors now owns 56,190 shares of the company’s stock worth $2,562,000 after purchasing an additional 33,482 shares in the last quarter. US Bancorp DE lifted its stake in Pacira Pharmaceuticals by 50.5% in the 1st quarter. US Bancorp DE now owns 8,989 shares of the company’s stock worth $410,000 after purchasing an additional 3,015 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in Pacira Pharmaceuticals by 4.2% in the 1st quarter. Bank of New York Mellon Corp now owns 206,435 shares of the company’s stock worth $9,415,000 after purchasing an additional 8,366 shares in the last quarter. Swiss National Bank lifted its stake in Pacira Pharmaceuticals by 2.5% in the 1st quarter. Swiss National Bank now owns 61,300 shares of the company’s stock worth $2,795,000 after purchasing an additional 1,500 shares in the last quarter. Finally, UBS Asset Management Americas Inc. lifted its stake in Pacira Pharmaceuticals by 2.7% in the 1st quarter. UBS Asset Management Americas Inc. now owns 175,292 shares of the company’s stock worth $7,993,000 after purchasing an additional 4,592 shares in the last quarter.

Pacira Pharmaceuticals Company Profile

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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