Pacira Pharmaceuticals’ (PCRX) Market Perform Rating Reaffirmed at BMO Capital Markets
Pacira Pharmaceuticals Inc. (NASDAQ:PCRX)‘s stock had its “market perform” rating reiterated by equities researchers at BMO Capital Markets in a research report issued to clients and investors on Saturday. They presently have a $35.00 price objective on the stock. BMO Capital Markets’ price target would suggest a potential upside of 6.54% from the company’s previous close.
Other research analysts have also recently issued research reports about the company. Zacks Investment Research cut Pacira Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Friday, July 29th. Mizuho reissued a “buy” rating and issued a $46.00 price target on shares of Pacira Pharmaceuticals in a research note on Saturday. Piper Jaffray Cos. reissued an “overweight” rating and issued a $81.00 price target on shares of Pacira Pharmaceuticals in a research note on Wednesday, August 3rd. Brean Capital reissued a “hold” rating on shares of Pacira Pharmaceuticals in a research note on Friday, August 5th. Finally, Wedbush reissued an “outperform” rating and issued a $109.00 price target on shares of Pacira Pharmaceuticals in a research note on Tuesday, September 27th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have issued a buy rating to the stock. Pacira Pharmaceuticals currently has a consensus rating of “Hold” and an average price target of $71.18.
Pacira Pharmaceuticals (NASDAQ:PCRX) traded up 1.23% on Friday, hitting $32.85. 477,441 shares of the stock were exchanged. The company’s market cap is $1.23 billion. The company’s 50-day moving average is $34.21 and its 200-day moving average is $38.86. Pacira Pharmaceuticals has a 52 week low of $30.25 and a 52 week high of $80.25.
Pacira Pharmaceuticals (NASDAQ:PCRX) last released its quarterly earnings results on Wednesday, November 2nd. The company reported $0.20 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.02) by $0.22. Pacira Pharmaceuticals had a negative return on equity of 1.52% and a negative net margin of 13.37%. The company earned $68.40 million during the quarter, compared to analysts’ expectations of $67.16 million. During the same quarter in the prior year, the business posted $0.32 earnings per share. The company’s revenue for the quarter was up 10.0% compared to the same quarter last year. On average, analysts predict that Pacira Pharmaceuticals will post $0.55 earnings per share for the current year.
Institutional investors have recently added to or reduced their stakes in the stock. Prudential Financial Inc. increased its stake in shares of Pacira Pharmaceuticals by 257.2% in the first quarter. Prudential Financial Inc. now owns 13,376 shares of the company’s stock valued at $709,000 after buying an additional 9,631 shares in the last quarter. BlackRock Group LTD increased its stake in shares of Pacira Pharmaceuticals by 17.7% in the first quarter. BlackRock Group LTD now owns 23,054 shares of the company’s stock valued at $1,221,000 after buying an additional 3,472 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Pacira Pharmaceuticals by 5.4% in the first quarter. Geode Capital Management LLC now owns 262,536 shares of the company’s stock valued at $13,909,000 after buying an additional 13,435 shares in the last quarter. Fox Run Management L.L.C. acquired a new stake in shares of Pacira Pharmaceuticals during the second quarter valued at about $449,000. Finally, Parametrica Management Ltd acquired a new stake in shares of Pacira Pharmaceuticals during the second quarter valued at about $338,000.
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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