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.

Analyst Recommendations for Pacira Pharmaceuticals (NASDAQ:PCRX)

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