Pacira Pharmaceuticals Inc. (PCRX) Upgraded to Hold by Zacks Investment Research
Pacira Pharmaceuticals Inc. (NASDAQ:PCRX) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Monday.
According to Zacks, “Pacira’s third-quarter results were mixed with the company missing on earnings estimates but beating on revenues. Moreover, we are encouraged by the company’s label expansion efforts for Exparel, which should boost revenues in the upcoming quarters. Further, the recent launch of Exparel in the oral surgeon community which facilitates a move from inpatient to outpatient surgery should bring in additional sales in the coming quarters. However, the company’s sole dependence on Exparel for top-line growth is concerning. Also, Pacira suffered a major setback when it received a Complete Response Letter (CRL) from the FDA for use of Exparel in nerve block to provide postsurgical analgesia.We are also concerned about the lack of other late-stage candidates in the company’s pipeline. “
Other research analysts have also issued reports about the company. Jefferies Group reaffirmed a “buy” rating and issued a $60.00 target price (down from $74.00) on shares of Pacira Pharmaceuticals in a research report on Monday, September 26th. BMO Capital Markets reaffirmed a “hold” rating and issued a $35.00 target price on shares of Pacira Pharmaceuticals in a research report on Thursday, November 3rd. Brean Capital began coverage on Pacira Pharmaceuticals in a research report on Friday, October 7th. They issued a “hold” rating on the stock. Mizuho dropped their target price on Pacira Pharmaceuticals from $64.00 to $46.00 and set a “buy” rating on the stock in a research report on Thursday, November 3rd. Finally, Wedbush reaffirmed an “outperform” rating and issued a $105.00 target price (down from $109.00) on shares of Pacira Pharmaceuticals in a research report on Thursday, August 4th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and seven have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $71.18.
Shares of Pacira Pharmaceuticals (NASDAQ:PCRX) traded down 2.78% during trading on Monday, hitting $35.00. The company’s stock had a trading volume of 329,871 shares. The firm’s 50 day moving average is $34.38 and its 200-day moving average is $39.39. Pacira Pharmaceuticals has a 1-year low of $30.25 and a 1-year high of $80.25. The company’s market capitalization is $1.31 billion.
Pacira Pharmaceuticals (NASDAQ:PCRX) last announced its quarterly earnings data on Wednesday, November 2nd. The company reported $0.20 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.02) by $0.22. The firm earned $68.40 million during the quarter, compared to the consensus estimate of $67.16 million. Pacira Pharmaceuticals had a negative return on equity of 1.52% and a negative net margin of 13.37%. The business’s revenue for the quarter was up 10.0% on a year-over-year basis. During the same period in the prior year, the business earned $0.32 EPS. Analysts forecast that Pacira Pharmaceuticals will post $0.55 EPS for the current fiscal year.
Several hedge funds have recently made changes to their positions in the company. FMR LLC increased 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 in the last quarter. Westfield Capital Management Co. LP increased 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 in 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. Peregrine Capital Management LLC purchased a new stake in shares of Pacira Pharmaceuticals during the third quarter worth approximately $12,385,000. Finally, Point72 Asset Management L.P. purchased a new stake in shares of Pacira Pharmaceuticals during the second quarter worth approximately $9,486,000.
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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