Pacira Pharmaceuticals, Inc. (NASDAQ:PCRX) had its price objective reduced by investment analysts at Canaccord Genuity from $56.00 to $48.00 in a report released on Tuesday. The brokerage presently has a “buy” rating on the stock. Canaccord Genuity’s price target indicates a potential upside of 30.97% from the stock’s previous close.

A number of other research firms also recently weighed in on PCRX. Royal Bank Of Canada set a $58.00 target price on Pacira Pharmaceuticals and gave the stock a “buy” rating in a research report on Monday, May 15th. Cowen and Company restated a “hold” rating on shares of Pacira Pharmaceuticals in a research report on Friday, July 14th. Wedbush restated an “outperform” rating and issued a $87.00 target price on shares of Pacira Pharmaceuticals in a research report on Wednesday, July 19th. Zacks Investment Research downgraded Pacira Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Tuesday, May 2nd. Finally, BidaskClub upgraded Pacira Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Wednesday, July 5th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $53.31.

Shares of Pacira Pharmaceuticals (NASDAQ PCRX) traded up 0.14% during trading on Tuesday, hitting $36.70. 120,163 shares of the company’s stock were exchanged. The stock’s market cap is $1.48 billion. The stock’s 50-day moving average price is $41.49 and its 200-day moving average price is $45.06. Pacira Pharmaceuticals has a 1-year low of $29.95 and a 1-year high of $58.95.

Pacira Pharmaceuticals (NASDAQ:PCRX) last released its earnings results on Wednesday, August 2nd. The company reported ($0.11) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.05) by $0.06. The firm had revenue of $70.90 million during the quarter, compared to the consensus estimate of $73.37 million. Pacira Pharmaceuticals had a negative return on equity of 12.44% and a negative net margin of 23.36%. The business’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.21 EPS. On average, equities analysts expect that Pacira Pharmaceuticals will post ($0.16) earnings per share for the current fiscal year.

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In related news, Director Paul J. Hastings sold 1,044 shares of the company’s stock in a transaction that occurred on Tuesday, August 22nd. The stock was sold at an average price of $36.15, for a total transaction of $37,740.60. Following the completion of the transaction, the director now owns 3,518 shares in the company, valued at $127,175.70. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CAO Kristen Marie Williams sold 3,461 shares of the company’s stock in a transaction that occurred on Tuesday, August 15th. The shares were sold at an average price of $36.75, for a total value of $127,191.75. Following the transaction, the chief accounting officer now owns 21,312 shares of the company’s stock, valued at approximately $783,216. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 42,913 shares of company stock valued at $1,628,016. 6.60% of the stock is owned by corporate insiders.

Several institutional investors have recently made changes to their positions in PCRX. Benjamin F. Edwards & Company Inc. increased its position in shares of 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. Oppenheimer Asset Management Inc. acquired a new position in shares of Pacira Pharmaceuticals during the second quarter worth approximately $114,000. FNY Partners Fund LP acquired a new position in shares of Pacira Pharmaceuticals during the first quarter worth approximately $136,000. Ameritas Investment Partners Inc. acquired a new position in shares of Pacira Pharmaceuticals during the first quarter worth approximately $144,000. Finally, Cubist Systematic Strategies LLC increased its position in shares of Pacira Pharmaceuticals by 121.5% in the second quarter. Cubist Systematic Strategies LLC now owns 3,194 shares of the company’s stock worth $152,000 after buying an additional 1,752 shares in the last quarter.

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.

Analyst Recommendations for Pacira Pharmaceuticals (NASDAQ:PCRX)

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