Pacira Pharmaceuticals Inc. (PCRX) Stock Price Down 4.3% Following Analyst Downgrade
Pacira Pharmaceuticals Inc. (NASDAQ:PCRX) fell 4.3% during mid-day trading on Wednesday after Wedbush lowered their price target on the stock from $109.00 to $93.00. Wedbush currently has an outperform rating on the stock. Pacira Pharmaceuticals traded as low as $32.72 and last traded at $33.17, with a volume of 789,809 shares changing hands. The stock had previously closed at $34.65.
Other research analysts also recently issued research reports about the company. Mizuho reiterated an “outperform” rating and issued a $64.00 price objective on shares of Pacira Pharmaceuticals in a report on Friday, July 1st. Zacks Investment Research downgraded Pacira Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Friday, July 29th. Piper Jaffray Cos. reiterated an “overweight” rating and issued a $81.00 price objective on shares of Pacira Pharmaceuticals in a report on Wednesday, August 3rd. Brean Capital reiterated a “hold” rating on shares of Pacira Pharmaceuticals in a report on Friday, August 5th. Finally, BMO Capital Markets reiterated a “sell” rating and issued a $36.00 price objective on shares of Pacira Pharmaceuticals in a report on Friday, August 5th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $71.50.
In other Pacira Pharmaceuticals news, CEO David M. Stack sold 15,000 shares of the stock in a transaction that occurred on Monday, August 15th. The stock was sold at an average price of $45.32, for a total transaction of $679,800.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, President James S. Scibetta sold 25,000 shares of the stock in a transaction that occurred on Monday, August 15th. The stock was sold at an average price of $45.21, for a total value of $1,130,250.00. The disclosure for this sale can be found here. Company insiders own 6.90% of the company’s stock.
Hedge funds have recently bought and sold shares of the company. BlackRock Inc. boosted its stake in Pacira Pharmaceuticals by 122.7% in the first quarter. BlackRock Inc. now owns 2,497 shares of the company’s stock valued at $133,000 after buying an additional 1,376 shares in the last quarter. BNP Paribas Arbitrage SA boosted its stake in Pacira Pharmaceuticals by 111.3% in the third quarter. BNP Paribas Arbitrage SA now owns 3,051 shares of the company’s stock valued at $104,000 after buying an additional 1,607 shares in the last quarter. US Bancorp DE boosted 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 valued at $169,000 after buying an additional 394 shares in the last quarter. Teacher Retirement System of Texas boosted its stake in Pacira Pharmaceuticals by 13.6% in the second quarter. Teacher Retirement System of Texas now owns 5,184 shares of the company’s stock valued at $175,000 after buying an additional 622 shares in the last quarter. Finally, M&T Bank Corp acquired a new stake in Pacira Pharmaceuticals during the first quarter valued at approximately $300,000.
The company’s 50 day moving average is $37.40 and its 200-day moving average is $43.27. The firm’s market capitalization is $1.24 billion.
Pacira Pharmaceuticals (NASDAQ:PCRX) last released its quarterly earnings results on Thursday, August 4th. The company reported $0.19 EPS for the quarter, topping the Thomson Reuters’ 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 had revenue of $69.60 million for the quarter, compared to analysts’ expectations of $67.80 million. During the same quarter in the previous year, the firm posted $0.20 earnings per share. The company’s revenue was up 17.8% compared to the same quarter last year. Equities analysts anticipate that Pacira Pharmaceuticals Inc. will post $0.44 earnings per share for the current fiscal year.
About Pacira Pharmaceuticals
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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