Pacira Pharmaceuticals, Inc. (PCRX) Given New $45.00 Price Target at Bank of America Corporation
Pacira Pharmaceuticals, Inc. (NASDAQ:PCRX) had its price objective decreased by Bank of America Corporation from $46.00 to $45.00 in a research note released on Wednesday morning. Bank of America Corporation currently has a buy rating on the stock.
A number of other brokerages have also issued reports on PCRX. Cowen and Company reissued a hold rating on shares of Pacira Pharmaceuticals in a report on Friday, July 14th. Wedbush reissued an outperform rating and issued a $87.00 price objective on shares of Pacira Pharmaceuticals in a report on Wednesday, July 19th. BidaskClub raised Pacira Pharmaceuticals from a sell rating to a hold rating in a report on Wednesday, July 5th. Royal Bank Of Canada set a $58.00 price objective on Pacira Pharmaceuticals and gave the stock a buy rating in a report on Tuesday, June 27th. Finally, ValuEngine raised Pacira Pharmaceuticals from a sell rating to a hold rating in a report on Tuesday, June 20th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. Pacira Pharmaceuticals presently has an average rating of Hold and an average target price of $52.07.
Pacira Pharmaceuticals (NASDAQ PCRX) traded up 1.79% during mid-day trading on Wednesday, hitting $36.95. The stock had a trading volume of 962,684 shares. The company has a 50-day moving average of $37.01 and a 200-day moving average of $43.46. The stock’s market cap is $1.49 billion. Pacira Pharmaceuticals has a 12-month low of $29.95 and a 12-month high of $58.95.
Pacira Pharmaceuticals (NASDAQ:PCRX) last issued its quarterly earnings data on Wednesday, August 2nd. The company reported ($0.11) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.06). Pacira Pharmaceuticals had a negative return on equity of 12.44% and a negative net margin of 23.36%. The business had revenue of $70.90 million during the quarter, compared to the consensus estimate of $73.37 million. During the same period last year, the company earned $0.21 earnings per share. The business’s quarterly revenue was up 1.9% compared to the same quarter last year. On average, analysts anticipate that Pacira Pharmaceuticals will post ($0.17) earnings per share for the current fiscal year.
In other news, CAO Kristen Marie Williams sold 3,461 shares of the 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 sale, the chief accounting officer now owns 21,312 shares in the company, valued at approximately $783,216. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Paul J. Hastings sold 1,044 shares of the stock in a transaction on Tuesday, August 22nd. The shares were sold at an average price of $36.15, for a total value of $37,740.60. Following the sale, the director now owns 3,518 shares of the company’s stock, valued at approximately $127,175.70. The disclosure for this sale can be found here. Insiders have sold a total of 33,390 shares of company stock valued at $1,215,480 in the last quarter. Insiders own 6.60% of the company’s stock.
Several large investors have recently made changes to their positions in the company. Public Employees Retirement System of Ohio acquired a new stake in shares of Pacira Pharmaceuticals during the 2nd quarter valued at $1,782,000. Ameritas Investment Partners Inc. lifted its position in shares of Pacira Pharmaceuticals by 9.6% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 3,449 shares of the company’s stock valued at $165,000 after acquiring an additional 302 shares during the last quarter. The Manufacturers Life Insurance Company lifted its position in shares of Pacira Pharmaceuticals by 6.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 30,307 shares of the company’s stock valued at $1,446,000 after acquiring an additional 1,872 shares during the last quarter. Arrowstreet Capital Limited Partnership acquired a new stake in shares of Pacira Pharmaceuticals during the 2nd quarter valued at $572,000. Finally, Cubist Systematic Strategies LLC lifted its position in shares of Pacira Pharmaceuticals by 121.5% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 3,194 shares of the company’s stock valued at $152,000 after acquiring an additional 1,752 shares during 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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