Gilder Gagnon Howe & Co. LLC Has $49.75 Million Position in Pacira Pharmaceuticals, Inc. (PCRX)
Gilder Gagnon Howe & Co. LLC reduced its position in shares of Pacira Pharmaceuticals, Inc. (NASDAQ:PCRX) by 14.9% during the second quarter, Holdings Channel reports. The institutional investor owned 1,042,912 shares of the company’s stock after selling 181,902 shares during the period. Gilder Gagnon Howe & Co. LLC’s holdings in Pacira Pharmaceuticals were worth $49,747,000 at the end of the most recent quarter.
Several other institutional investors have also recently bought and sold shares of PCRX. Benjamin F. Edwards & Company Inc. raised its position in Pacira Pharmaceuticals by 85.6% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 2,491 shares of the company’s stock worth $114,000 after buying an additional 1,149 shares in the last quarter. FNY Partners Fund LP purchased a new position in Pacira Pharmaceuticals during the first quarter worth $136,000. Ameritas Investment Partners Inc. purchased a new position in Pacira Pharmaceuticals during the first quarter worth $144,000. Schnieders Capital Management LLC purchased a new position in Pacira Pharmaceuticals during the second quarter worth $201,000. Finally, Amalgamated Bank purchased a new position in Pacira Pharmaceuticals during the first quarter worth $204,000.
Pacira Pharmaceuticals, Inc. (PCRX) opened at 37.225 on Monday. The company has a 50-day moving average of $46.37 and a 200-day moving average of $45.57. Pacira Pharmaceuticals, Inc. has a 12 month low of $29.95 and a 12 month high of $58.95. The company’s market cap is $1.49 billion.
Pacira Pharmaceuticals (NASDAQ:PCRX) last released its quarterly earnings results on Wednesday, August 2nd. The company reported ($0.11) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.05) by $0.06. Pacira Pharmaceuticals had a negative net margin of 23.36% and a negative return on equity of 12.44%. The business had revenue of $70.90 million during the quarter, compared to the consensus estimate of $73.37 million. During the same period in the prior year, the firm earned $0.21 earnings per share. The business’s quarterly revenue was up 1.9% compared to the same quarter last year. Analysts predict that Pacira Pharmaceuticals, Inc. will post ($0.07) EPS for the current year.
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A number of equities analysts have recently weighed in on the stock. HC Wainwright set a $59.00 price objective on shares of Pacira Pharmaceuticals and gave the company a “buy” rating in a research report on Saturday, May 6th. BMO Capital Markets cut their price objective on shares of Pacira Pharmaceuticals from $42.00 to $40.00 and set a “market perform” rating for the company in a research report on Thursday. Canaccord Genuity set a $56.00 price objective on shares of Pacira Pharmaceuticals and gave the company a “buy” rating in a research report on Tuesday, July 25th. Cowen and Company reissued a “hold” rating on shares of Pacira Pharmaceuticals in a research report on Wednesday, August 2nd. Finally, BidaskClub downgraded shares of Pacira Pharmaceuticals from a “sell” rating to a “strong sell” rating in a report on Wednesday, August 2nd. Four investment analysts have rated the stock with a sell rating, five have given a hold rating and eight have issued a buy rating to the company’s stock. Pacira Pharmaceuticals presently has an average rating of “Hold” and a consensus price target of $54.50.
In related news, SVP Scott Braunstein sold 768 shares of Pacira Pharmaceuticals stock in a transaction dated Monday, June 5th. The stock was sold at an average price of $43.32, for a total value of $33,269.76. Following the completion of the transaction, the senior vice president now directly owns 9,982 shares of the company’s stock, valued at $432,420.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Lauren Bullaro Riker sold 601 shares of Pacira Pharmaceuticals stock in a transaction dated Monday, June 5th. The shares were sold at an average price of $43.32, for a total value of $26,035.32. The disclosure for this sale can be found here. Insiders sold 50,564 shares of company stock valued at $2,506,682 over the last ninety days. 6.60% of the stock is currently owned by company insiders.
About Pacira Pharmaceuticals
Pacira Pharmaceuticals, Inc is a holding company. The Company is a pharmaceutical company focused on the development, manufacture and commercialization of pharmaceutical products, based on its DepoFoam extended release drug delivery technology, for use primarily in hospitals and ambulatory surgery centers.
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