Jefferies Group LLC Cuts Pacira Pharmaceuticals, Inc. (PCRX) Price Target to $52.00

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.

The Fly

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