Pacira Pharmaceuticals, Inc. (PCRX) Price Target Cut to $45.00
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.
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