Pacira Pharmaceuticals, Inc. (NASDAQ:PCRX) had its price objective cut by Jefferies Group LLC to $52.00 in a research note issued to investors on Thursday, The Fly reports. They currently have a buy rating on the stock.
A number of other analysts have also commented 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 set a $87.00 price objective on shares of Pacira Pharmaceuticals in a report on Wednesday, July 19th. Mizuho reissued a buy rating and set a $54.00 price objective on shares of Pacira Pharmaceuticals in a report on Wednesday, July 26th. Canaccord Genuity set a $56.00 price objective on Pacira Pharmaceuticals and gave the stock a buy rating in a report on Tuesday, July 25th. Finally, BidaskClub lowered Pacira Pharmaceuticals from a hold rating to a sell rating in a report on Thursday, July 27th. Three analysts have rated the stock with a sell rating, nine have given a hold rating and nine have assigned a buy rating to the stock. The company currently has an average rating of Hold and a consensus target price of $49.71.
Shares of Pacira Pharmaceuticals (PCRX) traded up $1.90 during trading on Thursday, reaching $42.05. The company had a trading volume of 787,300 shares, compared to its average volume of 927,270. Pacira Pharmaceuticals has a twelve month low of $29.81 and a twelve month high of $58.95. The company has a debt-to-equity ratio of 1.03, a current ratio of 6.99 and a quick ratio of 7.26.
Pacira Pharmaceuticals (NASDAQ:PCRX) last issued its quarterly earnings data on Wednesday, November 8th. The company reported $0.11 EPS for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.15. The firm had revenue of $67.30 million during the quarter, compared to analyst estimates of $68.99 million. Pacira Pharmaceuticals had a negative return on equity of 13.77% and a negative net margin of 18.25%. The company’s revenue for the quarter was down 1.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.20 EPS. analysts expect that Pacira Pharmaceuticals will post -0.96 EPS for the current fiscal year.
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In related news, Director Paul J. Hastings sold 1,044 shares of the company’s stock in a transaction that occurred 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 transaction, the director now owns 3,518 shares in the company, valued at $127,175.70. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO David M. Stack sold 28,885 shares of the company’s stock in a transaction that occurred on Tuesday, August 15th. The shares were sold at an average price of $36.37, for a total value of $1,050,547.45. Following the completion of the transaction, the chief executive officer now owns 159,164 shares in the company, valued at approximately $5,788,794.68. The disclosure for this sale can be found here. In the last quarter, insiders sold 33,390 shares of company stock worth $1,215,480. 6.60% of the stock is owned by company insiders.
A number of institutional investors have recently bought and sold shares of PCRX. BlackRock Inc. lifted its stake in Pacira Pharmaceuticals by 28,922.7% in the first quarter. BlackRock Inc. now owns 3,183,787 shares of the company’s stock valued at $145,180,000 after purchasing an additional 3,172,817 shares during the last quarter. HealthCor Management L.P. lifted its stake in Pacira Pharmaceuticals by 63.1% in the second quarter. HealthCor Management L.P. now owns 1,793,799 shares of the company’s stock valued at $85,564,000 after purchasing an additional 693,799 shares during the last quarter. Eaton Vance Management purchased a new position in Pacira Pharmaceuticals in the second quarter valued at approximately $19,519,000. Mesirow Financial Investment Management Equity Management purchased a new position in Pacira Pharmaceuticals in the third quarter valued at approximately $14,671,000. Finally, Russell Investments Group Ltd. lifted its stake in Pacira Pharmaceuticals by 3,599.8% in the second quarter. Russell Investments Group Ltd. now owns 283,513 shares of the company’s stock valued at $13,524,000 after purchasing an additional 275,850 shares during the last quarter.
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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