Pacira Pharmaceuticals (PCRX) Price Target Cut to $31.00
Pacira Pharmaceuticals (NASDAQ:PCRX) had its price objective reduced by BMO Capital Markets from $32.00 to $31.00 in a research note published on Thursday morning. They currently have a market perform rating on the stock.
PCRX has been the subject of a number of other reports. JPMorgan Chase & Co. reissued a hold rating on shares of Pacira Pharmaceuticals in a research report on Thursday, January 4th. BidaskClub cut shares of Pacira Pharmaceuticals from a buy rating to a hold rating in a research report on Saturday, January 6th. ValuEngine cut shares of Pacira Pharmaceuticals from a hold rating to a sell rating in a research report on Saturday, February 17th. Wedbush reissued a buy rating and issued a $80.00 price target on shares of Pacira Pharmaceuticals in a research report on Wednesday, December 20th. Finally, Zacks Investment Research cut shares of Pacira Pharmaceuticals from a hold rating to a sell rating in a research report on Tuesday, January 9th. Four equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eight have issued a buy rating to the stock. The company presently has a consensus rating of Hold and an average target price of $45.29.
Pacira Pharmaceuticals (NASDAQ:PCRX) traded down $1.60 during trading on Thursday, hitting $31.65. 203,629 shares of the stock traded hands, compared to its average volume of 1,046,371. The stock has a market cap of $1,353.66, a PE ratio of -30.50 and a beta of 1.95. Pacira Pharmaceuticals has a 1-year low of $29.35 and a 1-year high of $52.47. The company has a current ratio of 6.99, a quick ratio of 6.24 and a debt-to-equity ratio of 1.03.
In other news, CEO David M. Stack sold 28,885 shares of the company’s stock in a transaction dated Wednesday, January 10th. The shares were sold at an average price of $40.19, for a total value of $1,160,888.15. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 6.60% of the stock is currently owned by corporate insiders.
Large investors have recently made changes to their positions in the company. Cubist Systematic Strategies LLC raised its holdings in shares of 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 last quarter. Ameritas Investment Partners Inc. raised its holdings in shares of 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 buying an additional 302 shares during the last quarter. First Republic Investment Management Inc. purchased a new stake in shares of Pacira Pharmaceuticals in the fourth quarter valued at about $201,000. Spectrum Management Group Inc. purchased a new stake in shares of Pacira Pharmaceuticals in the third quarter valued at about $166,000. Finally, Bouchey Financial Group Ltd purchased a new stake in shares of Pacira Pharmaceuticals in the fourth quarter valued at about $205,000.
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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.
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