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.

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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.

Analyst Recommendations for Pacira Pharmaceuticals (NASDAQ:PCRX)

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