UBS AG Initiates Coverage on Pacira Pharmaceuticals, Inc. (NASDAQ:PCRX)

Equities research analysts at UBS AG began coverage on shares of Pacira Pharmaceuticals, Inc. (NASDAQ:PCRX) in a research note issued to investors on Wednesday, September 6th, The Fly reports. The brokerage set a “market perform” rating on the stock.

Other analysts have also recently issued reports about the company. Mizuho restated a “buy” rating and issued a $54.00 target price on shares of Pacira Pharmaceuticals in a research report on Wednesday, July 26th. Canaccord Genuity set a $56.00 target price on Pacira Pharmaceuticals and gave the company a “buy” rating in a research report on Tuesday, July 25th. Royal Bank Of Canada set a $58.00 target price on Pacira Pharmaceuticals and gave the company a “buy” rating in a research report on Tuesday, June 27th. 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, Needham & Company LLC initiated coverage on Pacira Pharmaceuticals in a research report on Tuesday, August 22nd. They set a “buy” rating and a $55.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and nine have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $52.92.

Pacira Pharmaceuticals (NASDAQ:PCRX) traded down 0.53% during mid-day trading on Wednesday, hitting $37.80. The company had a trading volume of 1,556,054 shares. The firm’s market cap is $1.52 billion. Pacira Pharmaceuticals has a 52-week low of $29.95 and a 52-week high of $58.95. The stock’s 50 day moving average price is $37.44 and its 200 day moving average price is $44.63.

Pacira Pharmaceuticals (NASDAQ:PCRX) last posted its earnings results on Wednesday, August 2nd. The company reported ($0.11) EPS for the quarter, missing the consensus estimate of ($0.05) by ($0.06). Pacira Pharmaceuticals had a negative net margin of 23.36% and a negative return on equity of 12.44%. The business had revenue of $70.90 million during the quarter, compared to analyst estimates of $73.37 million. During the same quarter in the prior year, the business earned $0.21 earnings per share. The firm’s revenue was up 1.9% compared to the same quarter last year. On average, equities research analysts predict that Pacira Pharmaceuticals will post ($0.17) EPS for the current fiscal year.

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In other news, CEO David M. Stack sold 28,885 shares of the firm’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 completion of the sale, the chief executive officer now owns 159,164 shares of the company’s stock, valued at $5,788,794.68. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Paul J. Hastings sold 1,044 shares of the firm’s stock in a transaction on Tuesday, August 22nd. The stock was sold at an average price of $36.15, for a total value of $37,740.60. Following the completion of the sale, the director now directly owns 3,518 shares of the company’s stock, valued at approximately $127,175.70. The disclosure for this sale can be found here. Over the last three months, insiders have sold 33,390 shares of company stock valued at $1,215,480. Corporate insiders own 6.60% of the company’s stock.

Several institutional investors have recently modified their holdings of PCRX. BlackRock Inc. boosted its position in shares of Pacira Pharmaceuticals by 28,922.7% in the first quarter. BlackRock Inc. now owns 3,183,787 shares of the company’s stock worth $145,180,000 after buying an additional 3,172,817 shares during the period. HealthCor Management L.P. raised its holdings in shares of Pacira Pharmaceuticals by 63.1% during the second quarter. HealthCor Management L.P. now owns 1,793,799 shares of the company’s stock worth $85,564,000 after acquiring an additional 693,799 shares in the last quarter. Tudor Investment Corp ET AL purchased a new stake in shares of Pacira Pharmaceuticals during the first quarter worth $22,867,000. Eaton Vance Management purchased a new stake in shares of Pacira Pharmaceuticals during the second quarter worth $19,519,000. Finally, Russell Investments Group Ltd. raised its holdings in shares of Pacira Pharmaceuticals by 3,599.8% during the second quarter. Russell Investments Group Ltd. now owns 283,513 shares of the company’s stock worth $13,524,000 after acquiring an additional 275,850 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.

The Fly

Analyst Recommendations for Pacira Pharmaceuticals (NASDAQ:PCRX)

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