Pacira Pharmaceuticals Inc. (PCRX) Downgraded to Hold at Zacks Investment Research
Pacira Pharmaceuticals Inc. (NASDAQ:PCRX) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a research note issued on Tuesday.
According to Zacks, “Pacira’s top line is driven by strong demand for its lead product, Exparel, on the back of growth within existing accounts, along with increasing acceptance by major hospitals and orthopedic centers with growing use in orthopedic procedures. We are also encouraged by the company’s label expansion efforts for Exparel, which should boost revenues. Recently, the company launched the drug in the oral surgery indication. The label expansion of Exparel into the field of oral surgery will benefit oral and maxillofacial surgeons, prosthodontists and endodontists by giving them the ability to produce analgesia with a single-dose administration during the days following surgery. However, the company’s sole dependence on Exparel for top-line growth is a concern. Moreover, increasing competition for the drug is concerning.”
PCRX has been the subject of several other research reports. Mizuho reaffirmed a “buy” rating and set a $64.00 target price on shares of Pacira Pharmaceuticals in a research note on Tuesday, August 2nd. Cowen and Company began coverage on Pacira Pharmaceuticals in a research note on Wednesday, September 7th. They set a “market perform” rating for the company. Piper Jaffray Cos. reaffirmed an “overweight” rating and set a $81.00 target price on shares of Pacira Pharmaceuticals in a research note on Wednesday, August 3rd. Brean Capital reaffirmed a “hold” rating on shares of Pacira Pharmaceuticals in a research note on Friday, August 5th. Finally, Wedbush reaffirmed an “outperform” rating and set a $109.00 target price on shares of Pacira Pharmaceuticals in a research note on Tuesday, September 27th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $72.83.
Pacira Pharmaceuticals (NASDAQ:PCRX) traded down 0.95% on Tuesday, hitting $35.46. The company’s stock had a trading volume of 228,911 shares. The firm has a 50 day moving average of $39.78 and a 200-day moving average of $44.44. Pacira Pharmaceuticals has a 12 month low of $31.08 and a 12 month high of $80.25. The stock’s market cap is $1.32 billion.
Pacira Pharmaceuticals (NASDAQ:PCRX) last released its earnings results on Thursday, August 4th. The company reported $0.19 EPS for the quarter, topping the consensus estimate of $0.03 by $0.16. Pacira Pharmaceuticals had a positive return on equity of 0.02% and a negative net margin of 4.21%. The business earned $69.60 million during the quarter, compared to analysts’ expectations of $67.80 million. During the same quarter last year, the firm posted $0.20 earnings per share. The firm’s revenue was up 17.8% on a year-over-year basis. 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 Pacira Pharmaceuticals stock in a transaction on Monday, August 15th. The stock was sold at an average price of $45.21, for a total transaction of $1,130,250.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO David M. Stack sold 15,000 shares of Pacira Pharmaceuticals stock in a transaction on Monday, August 15th. The stock was 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. Corporate insiders own 6.90% of the company’s stock.
Hedge funds have recently modified their holdings of the company. Legacy Capital Partners Inc. raised its stake in shares of Pacira Pharmaceuticals by 0.4% in the second quarter. Legacy Capital Partners Inc. now owns 23,200 shares of the company’s stock worth $783,000 after buying an additional 100 shares during the period. American Century Companies Inc. increased its stake in Pacira Pharmaceuticals by 0.3% in the second quarter. American Century Companies Inc. now owns 66,391 shares of the company’s stock worth $2,239,000 after buying an additional 206 shares in the last quarter. Nationwide Fund Advisors increased its stake in Pacira Pharmaceuticals by 0.9% in the second quarter. Nationwide Fund Advisors now owns 23,816 shares of the company’s stock worth $803,000 after buying an additional 224 shares in the last quarter. DekaBank Deutsche Girozentrale increased its stake in Pacira Pharmaceuticals by 1.3% in the second quarter. DekaBank Deutsche Girozentrale now owns 18,515 shares of the company’s stock worth $704,000 after buying an additional 235 shares in the last quarter. Finally, US Bancorp DE increased its stake in Pacira Pharmaceuticals by 8.5% in the second quarter. US Bancorp DE now owns 5,010 shares of the company’s stock worth $169,000 after buying an additional 394 shares in the last quarter.
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.
Receive News & Stock Ratings for Pacira Pharmaceuticals Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pacira Pharmaceuticals Inc. and related stocks with our FREE daily email newsletter.