Pacira Pharmaceuticals, Inc. (PCRX) Receives New Coverage from Analysts at Oppenheimer Holdings Inc.
Oppenheimer Holdings Inc. initiated coverage on shares of Pacira Pharmaceuticals, Inc. (NASDAQ:PCRX) in a research note released on Thursday morning. The brokerage issued a market perform rating on the stock.
Other research analysts have also issued research reports about the company. BMO Capital Markets reduced their target price on Pacira Pharmaceuticals from $42.00 to $40.00 and set a market perform rating for the company in a report on Thursday, August 3rd. Wedbush reiterated an outperform rating and set a $87.00 price target on shares of Pacira Pharmaceuticals in a research report on Wednesday, June 21st. Canaccord Genuity reiterated a buy rating and set a $56.00 price target on shares of Pacira Pharmaceuticals in a research report on Monday, July 31st. HC Wainwright set a $59.00 price target on Pacira Pharmaceuticals and gave the company a buy rating in a research report on Thursday, August 3rd. Finally, ValuEngine downgraded Pacira Pharmaceuticals from a hold rating to a sell rating in a research report on Friday, August 4th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and nine have assigned a buy rating to the company’s stock. The company has a consensus rating of Hold and a consensus price target of $52.92.
Shares of Pacira Pharmaceuticals (PCRX) traded up 1.24% on Thursday, reaching $36.85. 172,264 shares of the company’s stock were exchanged. The company’s 50 day moving average price is $38.38 and its 200-day moving average price is $44.76. The stock’s market cap is $1.49 billion. Pacira Pharmaceuticals has a 52-week low of $29.95 and a 52-week high of $58.95.
Pacira Pharmaceuticals (NASDAQ:PCRX) last posted 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 company had revenue of $70.90 million for the quarter, compared to analysts’ expectations of $73.37 million. Pacira Pharmaceuticals had a negative net margin of 23.36% and a negative return on equity of 12.44%. The firm’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.21 EPS. Equities analysts forecast that Pacira Pharmaceuticals will post ($0.17) EPS for the current fiscal year.
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In other news, CAO Kristen Marie Williams sold 3,461 shares of the business’s stock in a transaction that occurred on Tuesday, August 15th. The stock was sold at an average price of $36.75, for a total transaction of $127,191.75. Following the transaction, the chief accounting officer now directly owns 21,312 shares of the company’s stock, valued at $783,216. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO David M. Stack sold 28,885 shares of the business’s stock in a transaction that occurred on Tuesday, August 15th. The shares were sold at an average price of $36.37, for a total value of $1,050,547.45. Following the transaction, the chief executive officer now directly owns 159,164 shares in the company, valued at $5,788,794.68. The disclosure for this sale can be found here. Insiders have sold 33,390 shares of company stock worth $1,215,480 over the last three months. Insiders own 6.60% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the company. Highbridge Capital Management LLC purchased a new position in shares of Pacira Pharmaceuticals during the first quarter valued at approximately $3,648,000. Stephens Inc. AR increased its stake in shares of Pacira Pharmaceuticals by 8.0% during the first quarter. Stephens Inc. AR now owns 24,676 shares of the company’s stock valued at $1,125,000 after buying an additional 1,835 shares during the period. FNY Partners Fund LP purchased a new position in shares of Pacira Pharmaceuticals during the first quarter valued at approximately $136,000. Westfield Capital Management Co. LP increased its stake in shares of Pacira Pharmaceuticals by 0.3% during the first quarter. Westfield Capital Management Co. LP now owns 1,608,847 shares of the company’s stock valued at $73,363,000 after buying an additional 5,166 shares during the period. Finally, UBS Group AG increased its stake in shares of Pacira Pharmaceuticals by 96.8% during the first quarter. UBS Group AG now owns 14,473 shares of the company’s stock valued at $660,000 after buying an additional 7,117 shares during the period.
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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