Insider Selling: Pacira Pharmaceuticals, Inc. (PCRX) Director Sells $37,740.60 in Stock
Pacira Pharmaceuticals, Inc. (NASDAQ:PCRX) Director Paul J. Hastings sold 1,044 shares of the stock in a transaction on Tuesday, August 22nd. The stock was sold at an average price of $36.15, for a total value of $37,740.60. Following the transaction, the director now owns 3,518 shares of the company’s stock, valued at $127,175.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.
Shares of Pacira Pharmaceuticals, Inc. (PCRX) traded down 3.38% during trading on Friday, reaching $35.75. The company’s stock had a trading volume of 354,490 shares. The company’s 50 day moving average price is $41.49 and its 200 day moving average price is $45.06. Pacira Pharmaceuticals, Inc. has a 12 month low of $29.95 and a 12 month high of $58.95. The firm’s market cap is $1.44 billion.
Pacira Pharmaceuticals (NASDAQ:PCRX) last posted its quarterly earnings data on Wednesday, August 2nd. The company reported ($0.11) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.05) by $0.06. The firm had revenue of $70.90 million for the quarter, compared to the consensus estimate of $73.37 million. Pacira Pharmaceuticals had a negative net margin of 23.36% and a negative return on equity of 12.44%. The business’s revenue was up 1.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.21 earnings per share. On average, equities analysts predict that Pacira Pharmaceuticals, Inc. will post ($0.16) earnings per share for the current year.
Several research firms have issued reports on PCRX. HC Wainwright set a $59.00 price objective on Pacira Pharmaceuticals and gave the stock a “buy” rating in a research note on Saturday, May 6th. Cowen and Company reiterated a “hold” rating on shares of Pacira Pharmaceuticals in a research note on Wednesday, August 2nd. Mizuho restated a “buy” rating and set a $53.00 target price (down previously from $54.00) on shares of Pacira Pharmaceuticals in a report on Tuesday, August 22nd. Wedbush restated an “outperform” rating and set a $87.00 target price on shares of Pacira Pharmaceuticals in a report on Wednesday. Finally, BidaskClub cut Pacira Pharmaceuticals from a “sell” rating to a “strong sell” rating in a report on Wednesday, August 2nd. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $53.92.
A number of hedge funds have recently bought and sold shares of the stock. Renaissance Technologies LLC boosted its stake in Pacira Pharmaceuticals by 1.6% in the fourth quarter. Renaissance Technologies LLC now owns 25,200 shares of the company’s stock valued at $814,000 after buying an additional 400 shares during the last quarter. Teachers Advisors LLC boosted its stake in Pacira Pharmaceuticals by 6.2% in the fourth quarter. Teachers Advisors LLC now owns 62,854 shares of the company’s stock valued at $2,030,000 after buying an additional 3,658 shares during the last quarter. Candriam Luxembourg S.C.A. purchased a new stake in Pacira Pharmaceuticals during the first quarter valued at $2,736,000. Nationwide Fund Advisors boosted its stake in Pacira Pharmaceuticals by 147.4% in the first quarter. Nationwide Fund Advisors now owns 56,190 shares of the company’s stock valued at $2,562,000 after buying an additional 33,482 shares during the last quarter. Finally, Fisher Asset Management LLC purchased a new stake in Pacira Pharmaceuticals during the first quarter valued at $285,000.
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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