Pacira Pharmaceuticals (PCRX) Upgraded at ValuEngine
Pacira Pharmaceuticals (NASDAQ:PCRX) was upgraded by ValuEngine from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.
Other research analysts also recently issued reports about the stock. Bank of America lowered their price target on shares of Pacira Pharmaceuticals from $46.00 to $45.00 and set a “buy” rating for the company in a report on Wednesday, October 4th. Zacks Investment Research upgraded shares of Pacira Pharmaceuticals from a “hold” rating to a “buy” rating and set a $42.00 price target for the company in a report on Tuesday, October 3rd. Canaccord Genuity reiterated a “buy” rating and set a $44.00 price target (down from $48.00) on shares of Pacira Pharmaceuticals in a report on Sunday, October 1st. Needham & Company LLC reiterated a “buy” rating on shares of Pacira Pharmaceuticals in a report on Tuesday, September 26th. Finally, Mizuho reiterated a “buy” rating and set a $53.00 price target on shares of Pacira Pharmaceuticals in a report on Monday, September 25th. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and nine have assigned a buy rating to the stock. Pacira Pharmaceuticals presently has a consensus rating of “Hold” and a consensus price target of $49.00.
Shares of Pacira Pharmaceuticals (NASDAQ PCRX) traded down $1.25 during trading hours on Wednesday, hitting $41.50. 1,645,800 shares of the stock traded hands, compared to its average volume of 664,956. The firm has a market capitalization of $1,680.00, a P/E ratio of -31.68 and a beta of 2.20. The company has a quick ratio of 6.24, a current ratio of 6.99 and a debt-to-equity ratio of 1.03. Pacira Pharmaceuticals has a 52 week low of $29.81 and a 52 week high of $58.95.
Pacira Pharmaceuticals (NASDAQ:PCRX) last announced its quarterly earnings results on Wednesday, November 8th. The company reported $0.11 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.04) by $0.15. The company had revenue of $67.30 million during 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 for the quarter was down 1.6% compared to the same quarter last year. During the same period in the prior year, the business earned $0.20 earnings per share. sell-side analysts expect that Pacira Pharmaceuticals will post -0.85 earnings per share for the current fiscal year.
In other Pacira Pharmaceuticals news, CEO David M. Stack sold 58,885 shares of the company’s stock in a transaction on Wednesday, November 15th. The shares were sold at an average price of $38.34, for a total transaction of $2,257,650.90. Following the sale, the chief executive officer now 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 accessible through this hyperlink. Also, Director Mark A. Kronenfeld purchased 1,000 shares of the business’s stock in a transaction on Friday, November 10th. The shares were purchased at an average cost of $41.60 per share, for a total transaction of $41,600.00. Following the transaction, the director now directly owns 6,795 shares of the company’s stock, valued at approximately $282,672. The disclosure for this purchase can be found here. Insiders have sold 70,075 shares of company stock worth $2,707,452 in the last ninety days. Insiders own 6.60% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the business. Oppenheimer Asset Management Inc. bought a new stake in Pacira Pharmaceuticals during the second quarter valued at $114,000. Cubist Systematic Strategies LLC boosted its position in Pacira Pharmaceuticals by 121.5% during the second quarter. Cubist Systematic Strategies LLC now owns 3,194 shares of the company’s stock valued at $152,000 after acquiring an additional 1,752 shares during the last quarter. QS Investors LLC bought a new stake in Pacira Pharmaceuticals during the second quarter valued at $157,000. Ameritas Investment Partners Inc. boosted its position in shares of Pacira Pharmaceuticals by 9.6% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 3,449 shares of the company’s stock worth $165,000 after purchasing an additional 302 shares in the last quarter. Finally, Spectrum Management Group Inc. bought a new position in shares of Pacira Pharmaceuticals during the 3rd quarter worth about $166,000.
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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