Pacira Pharmaceuticals, Inc. (PCRX) Price Target Lowered to $48.00 at Canaccord Genuity
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.
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