Pacira Pharmaceuticals, Inc. (PCRX) Given New $52.00 Price Target at Jefferies Group LLC
Pacira Pharmaceuticals, Inc. (NASDAQ:PCRX) had its target price cut by Jefferies Group LLC to $52.00 in a research report report published on Thursday morning. They currently have a buy rating on the stock.
PCRX has been the subject of several other reports. Canaccord Genuity restated a buy rating and issued a $56.00 target price on shares of Pacira Pharmaceuticals in a report on Monday, July 31st. Wedbush restated an outperform rating and issued a $87.00 target price on shares of Pacira Pharmaceuticals in a report on Wednesday, July 19th. Zacks Investment Research upgraded Pacira Pharmaceuticals from a sell rating to a hold rating in a report on Friday, August 11th. Mizuho restated a buy rating and issued a $53.00 target price (down from $54.00) on shares of Pacira Pharmaceuticals in a report on Tuesday, August 22nd. Finally, BMO Capital Markets cut their price target on Pacira Pharmaceuticals from $42.00 to $40.00 and set a market perform rating for the company in a report on Thursday, August 3rd. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have assigned a buy rating to the company’s stock. Pacira Pharmaceuticals currently has a consensus rating of Hold and a consensus target price of $49.71.
Pacira Pharmaceuticals (NASDAQ PCRX) traded up $1.90 on Thursday, reaching $42.05. The company had a trading volume of 787,300 shares, compared to its average volume of 840,020. Pacira Pharmaceuticals has a 12-month low of $29.81 and a 12-month high of $58.95. The company has a debt-to-equity ratio of 1.03, a current ratio of 6.99 and a quick ratio of 7.26.
Pacira Pharmaceuticals (NASDAQ:PCRX) last posted its earnings results on Wednesday, November 8th. The company reported $0.11 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.04) by $0.15. Pacira Pharmaceuticals had a negative return on equity of 13.77% and a negative net margin of 18.25%. The firm had revenue of $67.30 million during the quarter, compared to analyst estimates of $68.99 million. During the same period in the previous year, the company earned $0.20 EPS. The company’s revenue for the quarter was down 1.6% on a year-over-year basis. equities analysts expect that Pacira Pharmaceuticals will post -0.96 earnings per share for the current year.
In related news, CAO Kristen Marie Williams sold 3,461 shares of the company’s stock in a transaction on Tuesday, August 15th. The stock was sold at an average price of $36.75, for a total value of $127,191.75. Following the completion of the transaction, the chief accounting officer now directly owns 21,312 shares in the company, valued at $783,216. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Paul J. Hastings sold 1,044 shares of the company’s stock in a transaction on 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 owns 3,518 shares of the company’s stock, valued at $127,175.70. The disclosure for this sale can be found here. Insiders sold 33,390 shares of company stock valued at $1,215,480 over the last 90 days. 6.60% of the stock is currently owned by corporate insiders.
A number of large investors have recently made changes to their positions in PCRX. Oppenheimer Asset Management Inc. bought a new stake in Pacira Pharmaceuticals in the second quarter valued at $114,000. Benjamin F. Edwards & Company Inc. grew its position in Pacira Pharmaceuticals by 12.2% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 2,794 shares of the company’s stock valued at $133,000 after acquiring an additional 303 shares during the period. Cubist Systematic Strategies LLC grew its position in Pacira Pharmaceuticals by 121.5% in the second quarter. Cubist Systematic Strategies LLC now owns 3,194 shares of the company’s stock valued at $152,000 after acquiring an additional 1,752 shares during the period. QS Investors LLC bought a new stake in Pacira Pharmaceuticals in the second quarter valued at $157,000. Finally, Ameritas Investment Partners Inc. grew its position in Pacira Pharmaceuticals by 9.6% in the second quarter. Ameritas Investment Partners Inc. now owns 3,449 shares of the company’s stock valued at $165,000 after acquiring an additional 302 shares during the period.
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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