Pacira Pharmaceuticals, Inc. (PCRX) Short Interest Update
Pacira Pharmaceuticals, Inc. (NASDAQ:PCRX) was the recipient of a significant growth in short interest in the month of August. As of August 15th, there was short interest totalling 4,650,854 shares, a growth of 53.8% from the July 31st total of 3,023,251 shares. Currently, 12.0% of the shares of the company are sold short. Based on an average daily volume of 910,050 shares, the days-to-cover ratio is currently 5.1 days.
In other Pacira Pharmaceuticals news, SVP Scott Braunstein sold 768 shares of the company’s stock in a transaction that occurred on Monday, June 5th. The stock was sold at an average price of $43.32, for a total transaction of $33,269.76. Following the completion of the sale, the senior vice president now owns 9,982 shares of the company’s stock, valued at $432,420.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Paul J. Hastings sold 1,044 shares of the company’s stock in a transaction that occurred on Tuesday, August 22nd. The stock was sold at an average price of $36.15, for a total value of $37,740.60. Following the sale, the director now directly owns 3,518 shares of the company’s stock, valued at approximately $127,175.70. The disclosure for this sale can be found here. Insiders have sold 42,913 shares of company stock valued at $1,628,016 in the last ninety days. Company insiders own 6.60% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in PCRX. Benjamin F. Edwards & Company Inc. increased its stake in Pacira Pharmaceuticals by 85.6% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 2,491 shares of the company’s stock valued at $114,000 after buying an additional 1,149 shares during the period. Oppenheimer Asset Management Inc. purchased a new stake in Pacira Pharmaceuticals during the second quarter valued at about $114,000. FNY Partners Fund LP purchased a new stake in Pacira Pharmaceuticals during the first quarter valued at about $136,000. Ameritas Investment Partners Inc. purchased a new stake in Pacira Pharmaceuticals during the first quarter valued at about $144,000. Finally, Cubist Systematic Strategies LLC increased its stake 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 buying an additional 1,752 shares during the period.
A number of equities research analysts have issued reports on PCRX shares. Wedbush reaffirmed an “outperform” rating and set a $87.00 target price on shares of Pacira Pharmaceuticals in a research report on Wednesday, June 21st. Canaccord Genuity reissued a “buy” rating and issued a $60.00 price objective on shares of Pacira Pharmaceuticals in a research report on Monday, May 15th. BidaskClub raised Pacira Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Wednesday, July 5th. Mizuho reissued a “buy” rating and issued a $54.00 price objective on shares of Pacira Pharmaceuticals in a research report on Wednesday, July 26th. Finally, Royal Bank Of Canada set a $58.00 price objective on Pacira Pharmaceuticals and gave the company a “buy” rating in a research report on Monday, May 15th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $53.31.
Pacira Pharmaceuticals (PCRX) opened at 38.00 on Friday. Pacira Pharmaceuticals has a 12 month low of $29.95 and a 12 month high of $58.95. The company’s market capitalization is $1.53 billion. The company has a 50-day moving average price of $39.71 and a 200 day moving average price of $44.89.
Pacira Pharmaceuticals (NASDAQ:PCRX) last released its quarterly earnings results on Wednesday, August 2nd. The company reported ($0.11) earnings per share (EPS) 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 the consensus estimate of $73.37 million. Pacira Pharmaceuticals had a negative net margin of 23.36% and a negative return on equity of 12.44%. The business’s revenue for the quarter was up 1.9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.21 earnings per share. On average, equities research analysts forecast that Pacira Pharmaceuticals will post ($0.16) EPS for the current fiscal year.
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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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