Pacira Pharmaceuticals, Inc. (NASDAQ:PCRX) had its target price dropped by research analysts at Bank of America Corporation from $46.00 to $45.00 in a note issued to investors on Wednesday. The brokerage currently has a “buy” rating on the stock. Bank of America Corporation’s price objective suggests a potential upside of 21.79% from the company’s current price.

Several other brokerages have also recently weighed in on PCRX. Wedbush reaffirmed an “outperform” rating and issued a $87.00 price target on shares of Pacira Pharmaceuticals in a research note on Wednesday, August 23rd. Mizuho reaffirmed a “buy” rating and issued a $54.00 price target on shares of Pacira Pharmaceuticals in a research note on Wednesday, July 26th. ValuEngine cut Pacira Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Friday, August 4th. BidaskClub cut Pacira Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research note on Wednesday, August 2nd. Finally, Cowen and Company reaffirmed a “hold” rating on shares of Pacira Pharmaceuticals in a research note on Friday, July 14th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and eleven have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $52.07.

Shares of Pacira Pharmaceuticals (PCRX) traded down 2.7789% during trading on Wednesday, hitting $35.9232. The company had a trading volume of 284,727 shares. Pacira Pharmaceuticals has a 1-year low of $29.95 and a 1-year high of $58.95. The company’s 50 day moving average is $37.00 and its 200 day moving average is $43.42. The firm’s market capitalization is $1.45 billion.

Pacira Pharmaceuticals (NASDAQ:PCRX) last issued its quarterly earnings results on Wednesday, August 2nd. The company reported ($0.11) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.05) by ($0.06). The firm had revenue of $70.90 million during the quarter, compared to analysts’ expectations of $73.37 million. Pacira Pharmaceuticals had a negative return on equity of 12.44% and a negative net margin of 23.36%. Pacira Pharmaceuticals’s revenue for the quarter was up 1.9% on a year-over-year basis. During the same period in the previous year, the company earned $0.21 earnings per share. Analysts anticipate that Pacira Pharmaceuticals will post ($0.17) earnings per share for the current fiscal year.

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In other news, Director Paul J. Hastings sold 1,044 shares of the company’s stock in a transaction on Tuesday, August 22nd. The stock was sold at an average price of $36.15, for a total transaction of $37,740.60. Following 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 the SEC website. Also, CAO Kristen Marie Williams sold 3,461 shares of the company’s 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 transaction, the chief accounting officer now directly owns 21,312 shares in the company, valued at $783,216. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 33,390 shares of company stock worth $1,215,480. Corporate insiders own 6.60% of the company’s stock.

A number of hedge funds have recently bought and sold shares of PCRX. US Bancorp DE lifted its holdings in Pacira Pharmaceuticals by 50.5% in the first quarter. US Bancorp DE now owns 8,989 shares of the company’s stock valued at $410,000 after acquiring an additional 3,015 shares during the period. Bank of New York Mellon Corp lifted its holdings in Pacira Pharmaceuticals by 4.2% in the first quarter. Bank of New York Mellon Corp now owns 206,435 shares of the company’s stock valued at $9,415,000 after acquiring an additional 8,366 shares during the period. Swiss National Bank lifted its holdings in Pacira Pharmaceuticals by 2.5% in the first quarter. Swiss National Bank now owns 61,300 shares of the company’s stock valued at $2,795,000 after acquiring an additional 1,500 shares during the period. UBS Asset Management Americas Inc. lifted its holdings in Pacira Pharmaceuticals by 2.7% in the first quarter. UBS Asset Management Americas Inc. now owns 175,292 shares of the company’s stock valued at $7,993,000 after acquiring an additional 4,592 shares during the period. Finally, Ameriprise Financial Inc. lifted its holdings in Pacira Pharmaceuticals by 788.0% in the first quarter. Ameriprise Financial Inc. now owns 282,531 shares of the company’s stock valued at $12,884,000 after acquiring an additional 250,714 shares during the period.

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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