Pacira Pharmaceuticals, Inc. (PCRX) Price Target Cut to $52.00 by Analysts at Needham & Company LLC
Pacira Pharmaceuticals, Inc. (NASDAQ:PCRX) had its price target lowered by Needham & Company LLC from $55.00 to $52.00 in a research report released on Thursday. The firm currently has a buy rating on the stock.
Several other analysts also recently weighed in on PCRX. Cowen and Company reissued a hold rating on shares of Pacira Pharmaceuticals in a research report on Wednesday, August 2nd. Mizuho reissued a buy rating and set a $53.00 target price (down previously from $54.00) on shares of Pacira Pharmaceuticals in a research report on Tuesday, August 22nd. Goldman Sachs Group, Inc. (The) began coverage on shares of Pacira Pharmaceuticals in a research report on Thursday, September 28th. They set a neutral rating and a $41.00 target price on the stock. BidaskClub downgraded shares of Pacira Pharmaceuticals from a sell rating to a strong sell rating in a research report on Wednesday, August 2nd. Finally, HC Wainwright set a $59.00 target price on shares of Pacira Pharmaceuticals and gave the stock a buy rating in a research report on Thursday, August 3rd. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and ten have assigned a buy rating to the company. The company presently has a consensus rating of Hold and a consensus price target of $51.86.
Shares of Pacira Pharmaceuticals (NASDAQ PCRX) traded up 1.21% on Thursday, reaching $33.50. 481,570 shares of the company were exchanged. Pacira Pharmaceuticals has a 52 week low of $29.95 and a 52 week high of $58.95. The stock’s market capitalization is $1.35 billion. The firm’s 50 day moving average price is $36.37 and its 200 day moving average price is $42.42.
Pacira Pharmaceuticals (NASDAQ:PCRX) last released its earnings results on Wednesday, August 2nd. The company reported ($0.11) earnings per share for the quarter, missing the 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 return on equity of 12.44% and a negative net margin of 23.36%. The firm’s revenue for the quarter was up 1.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.21 EPS. Equities research analysts anticipate that Pacira Pharmaceuticals will post ($0.20) EPS for the current year.
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In related news, CAO Kristen Marie Williams sold 3,461 shares of the business’s stock in a transaction on Tuesday, August 15th. The shares were sold at an average price of $36.75, for a total value of $127,191.75. Following the completion of the transaction, the chief accounting officer now directly owns 21,312 shares in the company, valued at approximately $783,216. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO David M. Stack sold 28,885 shares of the business’s stock in a transaction on Tuesday, August 15th. The shares were sold at an average price of $36.37, for a total transaction of $1,050,547.45. Following the completion of the transaction, 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. Over the last quarter, insiders sold 33,390 shares of company stock valued at $1,215,480. Company insiders own 6.60% of the company’s stock.
Several institutional investors and hedge funds have recently bought and sold shares of PCRX. Bank of New York Mellon Corp lifted its stake in shares of Pacira Pharmaceuticals by 4.2% in the 1st quarter. Bank of New York Mellon Corp now owns 206,435 shares of the company’s stock valued at $9,415,000 after purchasing an additional 8,366 shares during the period. UBS Asset Management Americas Inc. lifted its stake in shares of Pacira Pharmaceuticals by 2.7% in the 1st quarter. UBS Asset Management Americas Inc. now owns 175,292 shares of the company’s stock valued at $7,993,000 after purchasing an additional 4,592 shares during the period. Parametric Portfolio Associates LLC lifted its stake in shares of Pacira Pharmaceuticals by 56.9% in the 1st quarter. Parametric Portfolio Associates LLC now owns 88,244 shares of the company’s stock valued at $4,024,000 after purchasing an additional 32,009 shares during the period. Ameritas Investment Partners Inc. acquired a new position in shares of Pacira Pharmaceuticals in the 1st quarter valued at $144,000. Finally, American International Group Inc. lifted its stake in shares of Pacira Pharmaceuticals by 5.3% in the 1st quarter. American International Group Inc. now owns 22,060 shares of the company’s stock valued at $1,006,000 after purchasing an additional 1,103 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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