Pacira Pharmaceuticals, Inc. (PCRX) Downgraded by Zacks Investment Research to Hold

Zacks Investment Research downgraded shares of Pacira Pharmaceuticals, Inc. (NASDAQ:PCRX) from a buy rating to a hold rating in a report published on Monday.

According to Zacks, “Pacira's efforts to expand Exparel's label to boost sales in oral surgery and chronic pain are encouraging. The company also remains optimistic of its partnership with J&J to market and promote the use of Exparel, with their sales and medical education teams. Going forwad, Pacira is looking to expand Exparel's label in the animal health market as well. Shares of the company have outperformed the industry year to date. However, Pacira’s dependence on its key marketed drug, Exparel, for top-line growth is concerning. The company also discontinued the production of DepoCyt(e) due to persistent technical issues specific to DepoCyt.”

PCRX has been the subject of a number of other reports. Canaccord Genuity lowered their target price on shares of Pacira Pharmaceuticals from $56.00 to $48.00 and set a buy rating for the company in a research note on Tuesday, August 29th. CIBC initiated coverage on shares of Pacira Pharmaceuticals in a research note on Thursday, September 7th. They set a market perform rating for the company. Mizuho reissued a buy rating and set a $54.00 target price on shares of Pacira Pharmaceuticals in a research note on Wednesday, July 26th. Jefferies Group LLC reissued a buy rating and set a $59.00 target price on shares of Pacira Pharmaceuticals in a research note on Thursday, September 7th. Finally, Needham & Company LLC reissued a buy rating on shares of Pacira Pharmaceuticals in a research note on Tuesday, September 26th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and ten have given a buy rating to the stock. Pacira Pharmaceuticals currently has a consensus rating of Hold and a consensus price target of $52.07.

Shares of Pacira Pharmaceuticals (NASDAQ PCRX) opened at 35.20 on Monday. Pacira Pharmaceuticals has a 12-month low of $29.95 and a 12-month high of $58.95. The company’s 50-day moving average is $36.99 and its 200-day moving average is $43.18. The company’s market capitalization is $1.42 billion.

Pacira Pharmaceuticals (NASDAQ:PCRX) last posted its quarterly earnings data on Wednesday, August 2nd. The company reported ($0.11) EPS for the quarter, missing the consensus estimate of ($0.05) by ($0.06). The firm 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 quarterly revenue was up 1.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.21 earnings per share. Analysts predict that Pacira Pharmaceuticals will post ($0.18) EPS for the current year.

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In other news, Director Paul J. Hastings sold 1,044 shares of the business’s stock in a transaction dated Tuesday, August 22nd. The stock was sold at an average price of $36.15, for a total transaction of $37,740.60. Following the sale, the director now owns 3,518 shares in the company, valued at $127,175.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Kristen Marie Williams sold 3,461 shares of the business’s stock in a transaction dated Tuesday, August 15th. The stock was sold at an average price of $36.75, for a total value of $127,191.75. Following the sale, the chief accounting officer now owns 21,312 shares in the company, valued at approximately $783,216. The disclosure for this sale can be found here. Insiders sold 33,390 shares of company stock valued at $1,215,480 over the last quarter. 6.60% of the stock is currently owned by corporate insiders.

Several hedge funds have recently modified their holdings of the company. Oppenheimer Asset Management Inc. purchased a new stake in Pacira Pharmaceuticals in the second quarter valued at approximately $114,000. Benjamin F. Edwards & Company Inc. boosted its position in Pacira Pharmaceuticals by 12.2% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 2,794 shares of the company’s stock valued at $133,000 after buying an additional 303 shares during the last quarter. FNY Partners Fund LP purchased a new stake in Pacira Pharmaceuticals in the first quarter valued at approximately $136,000. Ameritas Investment Partners Inc. purchased a new stake in Pacira Pharmaceuticals in the first quarter valued at approximately $144,000. Finally, Cubist Systematic Strategies LLC boosted its position in Pacira Pharmaceuticals by 121.5% in the second quarter. Cubist Systematic Strategies LLC now owns 3,194 shares of the company’s stock valued at $152,000 after buying 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 an

According to Zacks, “Pacira's efforts to expand Exparel's label to boost sales in oral surgery and chronic pain are encouraging. The company also remains optimistic of its partnership with J&J to market and promote the use of Exparel, with their sales and medical education teams. Going forwad, Pacira is looking to expand Exparel's label in the animal health market as well. Shares of the company have outperformed the industry year to date. However, Pacira’s dependence on its key marketed drug, Exparel, for top-line growth is concerning. The company also discontinued the production of DepoCyt(e) due to persistent technical issues specific to DepoCyt.”

PCRX has been the subject of a number of other reports. Canaccord Genuity lowered their target price on shares of Pacira Pharmaceuticals from $56.00 to $48.00 and set a buy rating for the company in a research note on Tuesday, August 29th. CIBC initiated coverage on shares of Pacira Pharmaceuticals in a research note on Thursday, September 7th. They set a market perform rating for the company. Mizuho reissued a buy rating and set a $54.00 target price on shares of Pacira Pharmaceuticals in a research note on Wednesday, July 26th. Jefferies Group LLC reissued a buy rating and set a $59.00 target price on shares of Pacira Pharmaceuticals in a research note on Thursday, September 7th. Finally, Needham & Company LLC reissued a buy rating on shares of Pacira Pharmaceuticals in a research note on Tuesday, September 26th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and ten have given a buy rating to the stock. Pacira Pharmaceuticals currently has a consensus rating of Hold and a consensus price target of $52.07.

Shares of Pacira Pharmaceuticals (NASDAQ PCRX) opened at 35.20 on Monday. Pacira Pharmaceuticals has a 12-month low of $29.95 and a 12-month high of $58.95. The company’s 50-day moving average is $36.99 and its 200-day moving average is $43.18. The company’s market capitalization is $1.42 billion.

Pacira Pharmaceuticals (NASDAQ:PCRX) last posted its quarterly earnings data on Wednesday, August 2nd. The company reported ($0.11) EPS for the quarter, missing the consensus estimate of ($0.05) by ($0.06). The firm 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 quarterly revenue was up 1.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.21 earnings per share. Analysts predict that Pacira Pharmaceuticals will post ($0.18) EPS for the current year.

COPYRIGHT VIOLATION WARNING: This piece of content was first posted by The Ledger Gazette and is the property of of The Ledger Gazette. If you are viewing this piece of content on another website, it was copied illegally and reposted in violation of U.S. and international trademark & copyright law. The correct version of this piece of content can be viewed at https://ledgergazette.com/2017/10/10/pacira-pharmaceuticals-inc-pcrx-downgraded-by-zacks-investment-research-to-hold.html.

In other news, Director Paul J. Hastings sold 1,044 shares of the business’s stock in a transaction dated Tuesday, August 22nd. The stock was sold at an average price of $36.15, for a total transaction of $37,740.60. Following the sale, the director now owns 3,518 shares in the company, valued at $127,175.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Kristen Marie Williams sold 3,461 shares of the business’s stock in a transaction dated Tuesday, August 15th. The stock was sold at an average price of $36.75, for a total value of $127,191.75. Following the sale, the chief accounting officer now owns 21,312 shares in the company, valued at approximately $783,216. The disclosure for this sale can be found here. Insiders sold 33,390 shares of company stock valued at $1,215,480 over the last quarter. 6.60% of the stock is currently owned by corporate insiders.

Several hedge funds have recently modified their holdings of the company. Oppenheimer Asset Management Inc. purchased a new stake in Pacira Pharmaceuticals in the second quarter valued at approximately $114,000. Benjamin F. Edwards & Company Inc. boosted its position in Pacira Pharmaceuticals by 12.2% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 2,794 shares of the company’s stock valued at $133,000 after buying an additional 303 shares during the last quarter. FNY Partners Fund LP purchased a new stake in Pacira Pharmaceuticals in the first quarter valued at approximately $136,000. Ameritas Investment Partners Inc. purchased a new stake in Pacira Pharmaceuticals in the first quarter valued at approximately $144,000. Finally, Cubist Systematic Strategies LLC boosted its position in Pacira Pharmaceuticals by 121.5% in the second quarter. Cubist Systematic Strategies LLC now owns 3,194 shares of the company’s stock valued at $152,000 after buying 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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