Pacira Pharmaceuticals Inc. (PCRX) Rating Reiterated by Jefferies Group
Pacira Pharmaceuticals Inc. (NASDAQ:PCRX)‘s stock had its “buy” rating reissued by research analysts at Jefferies Group in a research report issued to clients and investors on Monday. They currently have a $60.00 price objective on the stock, down from their previous price objective of $74.00. Jefferies Group’s target price indicates a potential upside of 69.20% from the stock’s previous close.
A number of other equities research analysts also recently weighed in on the company. Cowen and Company reaffirmed a “hold” rating on shares of Pacira Pharmaceuticals in a report on Tuesday, September 20th. Wedbush reaffirmed an “outperform” rating and issued a $109.00 target price on shares of Pacira Pharmaceuticals in a report on Wednesday, September 21st. BMO Capital Markets began coverage on Pacira Pharmaceuticals in a report on Tuesday, June 28th. They issued an “underperform” rating and a $36.00 target price on the stock. Brean Capital downgraded Pacira Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Friday, July 1st. Finally, Zacks Investment Research downgraded Pacira Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Friday, July 29th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $72.83.
Pacira Pharmaceuticals (NASDAQ:PCRX) opened at 35.46 on Monday. The firm’s market cap is $1.32 billion. Pacira Pharmaceuticals has a 1-year low of $31.08 and a 1-year high of $80.25. The firm has a 50-day moving average price of $40.93 and a 200-day moving average price of $44.86.
Pacira Pharmaceuticals (NASDAQ:PCRX) last issued its earnings results on Thursday, August 4th. The company reported $0.19 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.03 by $0.16. The firm had revenue of $69.60 million for the quarter, compared to the consensus estimate of $67.80 million. Pacira Pharmaceuticals had a positive return on equity of 0.02% and a negative net margin of 4.21%. The company’s revenue was up 17.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.20 EPS. On average, analysts expect that Pacira Pharmaceuticals will post $0.44 earnings per share for the current fiscal year.
In related news, President James S. Scibetta sold 25,000 shares of the business’s stock in a transaction dated Monday, August 15th. The stock was sold at an average price of $45.21, for a total value of $1,130,250.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO David M. Stack sold 15,000 shares of the business’s stock in a transaction dated Monday, August 15th. The shares were sold at an average price of $45.32, for a total value of $679,800.00. The disclosure for this sale can be found here. 6.90% of the stock is owned by insiders.
Hedge funds have recently modified their holdings of the stock. FMR LLC raised its stake in shares of Pacira Pharmaceuticals by 19.1% in the second quarter. FMR LLC now owns 5,567,088 shares of the company’s stock worth $187,778,000 after buying an additional 892,511 shares during the last quarter. Westfield Capital Management Co. LP raised its stake in shares of Pacira Pharmaceuticals by 92.5% in the second quarter. Westfield Capital Management Co. LP now owns 1,333,868 shares of the company’s stock worth $44,991,000 after buying an additional 640,814 shares during the last quarter. Schroder Investment Management Group purchased a new stake in shares of Pacira Pharmaceuticals during the second quarter worth approximately $16,163,000. Point72 Asset Management L.P. purchased a new stake in shares of Pacira Pharmaceuticals during the second quarter worth approximately $9,486,000. Finally, EverPoint Asset Management LLC purchased a new stake in shares of Pacira Pharmaceuticals during the second quarter worth approximately $8,938,000.
Pacira Pharmaceuticals Company Profile
Pacira Pharmaceuticals, Inc is a specialty pharmaceutical company. The Company is focused on the development, commercialization and manufacture of pharmaceutical products, based on its DepoFoam drug delivery technology, for use in hospitals and ambulatory surgery centers. Its primary focus lies in the development of non-opioid products for postsurgical pain control.
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