Pacira Pharmaceuticals (NASDAQ:PCRX) was downgraded by equities research analysts at BidaskClub from a “buy” rating to a “hold” rating in a note issued to investors on Wednesday.

Several other equities research analysts also recently commented on PCRX. J P Morgan Chase & Co assumed coverage on shares of Pacira Pharmaceuticals in a report on Monday. They set a “neutral” rating and a $47.00 price objective on the stock. Mizuho reaffirmed a “buy” rating and set a $53.00 price objective (down from $54.00) on shares of Pacira Pharmaceuticals in a report on Tuesday, August 22nd. Goldman Sachs Group assumed coverage on shares of Pacira Pharmaceuticals in a report on Thursday, September 28th. They set a “neutral” rating and a $41.00 price objective on the stock. Canaccord Genuity reaffirmed a “buy” rating and set a $44.00 price objective (down from $48.00) on shares of Pacira Pharmaceuticals in a report on Sunday, October 1st. Finally, Needham & Company LLC reaffirmed a “buy” rating on shares of Pacira Pharmaceuticals in a report on Tuesday, September 26th. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and eight have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $48.73.

Shares of Pacira Pharmaceuticals (NASDAQ:PCRX) opened at $41.65 on Wednesday. Pacira Pharmaceuticals has a fifty-two week low of $29.81 and a fifty-two week 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 6.24.

Pacira Pharmaceuticals (NASDAQ:PCRX) last released its quarterly earnings data on Wednesday, November 8th. The company reported $0.11 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.04) by $0.15. The business had revenue of $67.30 million for the quarter, compared to the consensus estimate of $68.99 million. Pacira Pharmaceuticals had a negative net margin of 18.25% and a negative return on equity of 13.77%. The company’s revenue was down 1.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.20 earnings per share. analysts forecast that Pacira Pharmaceuticals will post -0.85 earnings per share for the current year.

In related news, CEO David M. Stack sold 58,885 shares of the firm’s stock in a transaction that occurred on Wednesday, November 15th. The shares were sold at an average price of $38.34, for a total value of $2,257,650.90. Following the sale, the chief executive officer now directly owns 159,164 shares of the company’s stock, valued at $6,102,347.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Mark A. Kronenfeld bought 1,000 shares of the stock in a transaction that occurred on Friday, November 10th. The stock was bought at an average cost of $41.60 per share, for a total transaction of $41,600.00. Following the completion of the purchase, the director now directly owns 6,795 shares of the company’s stock, valued at $282,672. The disclosure for this purchase can be found here. Over the last three months, insiders sold 70,075 shares of company stock worth $2,707,452. Insiders own 6.60% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Oppenheimer Asset Management Inc. purchased a new stake in Pacira Pharmaceuticals in the second quarter valued at approximately $114,000. Cubist Systematic Strategies LLC raised 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 purchasing an additional 1,752 shares in the last quarter. QS Investors LLC purchased a new stake in Pacira Pharmaceuticals in the second quarter valued at approximately $157,000. Ameritas Investment Partners Inc. raised its stake 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 purchasing an additional 302 shares in the last quarter. Finally, Spectrum Management Group Inc. purchased a new stake in Pacira Pharmaceuticals in the third quarter valued at approximately $166,000.

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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.

Analyst Recommendations for Pacira Pharmaceuticals (NASDAQ:PCRX)

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