Canaccord Genuity Reaffirms Buy Rating for Pacira Pharmaceuticals, Inc. (PCRX)
Canaccord Genuity reissued their buy rating on shares of Pacira Pharmaceuticals, Inc. (NASDAQ:PCRX) in a research note published on Sunday morning, Marketbeat Ratings reports. The firm currently has a $44.00 price target on the stock, down from their previous price target of $48.00.
A number of other research analysts have also commented on PCRX. ValuEngine raised Pacira Pharmaceuticals from a sell rating to a hold rating in a report on Tuesday, June 20th. Wedbush reissued an outperform rating and set a $87.00 target price on shares of Pacira Pharmaceuticals in a report on Wednesday, June 21st. Royal Bank Of Canada set a $58.00 target price on Pacira Pharmaceuticals and gave the stock a buy rating in a report on Tuesday, June 27th. BidaskClub raised shares of Pacira Pharmaceuticals from a sell rating to a hold rating in a research report on Wednesday, July 5th. Finally, Cowen and Company reissued a hold rating on shares of Pacira Pharmaceuticals in a research report on Friday, July 14th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and ten have issued a buy rating to the stock. The company currently has an average rating of Hold and a consensus target price of $52.62.
Pacira Pharmaceuticals (NASDAQ PCRX) opened at 37.45 on Friday. Pacira Pharmaceuticals has a 12-month low of $29.95 and a 12-month high of $58.95. The company’s market capitalization is $1.51 billion. The stock’s 50 day moving average is $37.03 and its 200-day moving average is $43.51.
Pacira Pharmaceuticals (NASDAQ:PCRX) last announced 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 for 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%. Pacira Pharmaceuticals’s revenue for the quarter was up 1.9% on a year-over-year basis. During the same quarter last year, the business posted $0.21 EPS. On average, equities analysts predict that Pacira Pharmaceuticals will post ($0.17) earnings per share 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 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 completion of the transaction, the chief accounting officer now owns 21,312 shares of the company’s stock, valued at approximately $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 company’s stock in a transaction on Tuesday, August 15th. The stock was sold at an average price of $36.37, for a total value of $1,050,547.45. Following the sale, the chief executive officer now owns 159,164 shares of the company’s stock, valued at $5,788,794.68. The disclosure for this sale can be found here. In the last ninety days, insiders sold 33,390 shares of company stock worth $1,215,480. Company insiders own 6.60% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in the stock. Oppenheimer Asset Management Inc. bought a new position in Pacira Pharmaceuticals in the second quarter valued at about $114,000. Benjamin F. Edwards & Company Inc. raised its stake in Pacira Pharmaceuticals by 12.2% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 2,794 shares of the company’s stock worth $133,000 after acquiring an additional 303 shares in the last quarter. FNY Partners Fund LP acquired a new position in Pacira Pharmaceuticals during the first quarter worth about $136,000. Ameritas Investment Partners Inc. acquired a new position in Pacira Pharmaceuticals during the first quarter worth about $144,000. Finally, Cubist Systematic Strategies LLC raised its stake in Pacira Pharmaceuticals by 121.5% during the second quarter. Cubist Systematic Strategies LLC now owns 3,194 shares of the company’s stock worth $152,000 after acquiring an additional 1,752 shares in the last quarter.
Pacira Pharmaceuticals Company Profile
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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