Pacira Pharmaceuticals, Inc. (PCRX) Stock Rating Lowered by BidaskClub
BidaskClub downgraded shares of Pacira Pharmaceuticals, Inc. (NASDAQ:PCRX) from a hold rating to a sell rating in a research report report published on Thursday morning.
Other analysts also recently issued reports about the company. HC Wainwright set a $59.00 price objective on Pacira Pharmaceuticals and gave the stock a buy rating in a report on Saturday, May 6th. Royal Bank Of Canada began coverage on Pacira Pharmaceuticals in a report on Thursday, April 13th. They set an outperform rating and a $58.00 price objective for the company. Wedbush restated an outperform rating and set a $87.00 price objective on shares of Pacira Pharmaceuticals in a report on Wednesday, June 21st. ValuEngine upgraded Pacira Pharmaceuticals from a sell rating to a hold rating in a report on Tuesday, June 20th. Finally, Canaccord Genuity restated a buy rating and set a $60.00 price objective on shares of Pacira Pharmaceuticals in a report on Friday, May 5th. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and eight have issued a buy rating to the company. The company presently has an average rating of Hold and a consensus price target of $54.92.
Shares of Pacira Pharmaceuticals (NASDAQ PCRX) traded down 0.75% during mid-day trading on Thursday, hitting $39.70. The stock had a trading volume of 296,164 shares. The firm has a 50 day moving average price of $46.59 and a 200 day moving average price of $45.47. The firm’s market cap is $1.59 billion. Pacira Pharmaceuticals has a 52-week low of $29.95 and a 52-week high of $58.95.
Pacira Pharmaceuticals (NASDAQ:PCRX) last released its quarterly earnings data on Thursday, May 4th. The company reported ($0.19) EPS for the quarter, topping analysts’ consensus estimates of ($0.23) by $0.04. The business had revenue of $69.30 million during the quarter, compared to the consensus estimate of $70.30 million. Pacira Pharmaceuticals had a negative return on equity of 7.71% and a negative net margin of 19.26%. The business’s revenue for the quarter was up 5.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.15 EPS. Equities analysts predict that Pacira Pharmaceuticals will post ($0.02) EPS for the current year.
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In other news, CAO Kristen Marie Williams sold 21,041 shares of the firm’s stock in a transaction dated Monday, May 15th. The stock was sold at an average price of $50.86, for a total transaction of $1,070,145.26. Following the completion of the sale, the chief accounting officer now directly owns 18,775 shares in the company, valued at $954,896.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Lauren Bullaro Riker sold 601 shares of the firm’s stock in a transaction dated Monday, June 5th. The shares were sold at an average price of $43.32, for a total value of $26,035.32. The disclosure for this sale can be found here. Insiders have sold 50,564 shares of company stock valued at $2,506,682 over the last 90 days. Insiders own 6.60% of the company’s stock.
Hedge funds have recently made changes to their positions in the stock. BlackRock Inc. increased its stake in shares of Pacira Pharmaceuticals by 28,922.7% in the first quarter. BlackRock Inc. now owns 3,183,787 shares of the company’s stock valued at $145,180,000 after buying an additional 3,172,817 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Pacira Pharmaceuticals by 4.1% in the first quarter. Vanguard Group Inc. now owns 2,860,092 shares of the company’s stock valued at $130,420,000 after buying an additional 112,853 shares in the last quarter. Westfield Capital Management Co. LP increased its stake in shares of Pacira Pharmaceuticals by 0.3% in the first quarter. Westfield Capital Management Co. LP now owns 1,608,847 shares of the company’s stock valued at $73,363,000 after buying an additional 5,166 shares in the last quarter. State Street Corp increased its stake in shares of Pacira Pharmaceuticals by 2.7% in the first quarter. State Street Corp now owns 1,107,356 shares of the company’s stock valued at $50,499,000 after buying an additional 28,663 shares in the last quarter. Finally, Macquarie Group Ltd. increased its stake in shares of Pacira Pharmaceuticals by 6.7% in the first quarter. Macquarie Group Ltd. now owns 1,074,770 shares of the company’s stock valued at $49,010,000 after buying an additional 67,321 shares in the last quarter.
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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