Janney Montgomery Scott cut shares of Pacira Pharmaceuticals, Inc. (NASDAQ:PCRX) from a neutral rating to a sell rating in a research note released on Thursday, October 26th, MarketBeat Ratings reports. They currently have $27.00 price target on the stock.
PCRX has been the topic of several other reports. Jefferies Group LLC reiterated a buy rating and set a $59.00 price target on shares of Pacira Pharmaceuticals in a research report on Thursday, September 7th. Wedbush reiterated an outperform rating and set a $87.00 price target on shares of Pacira Pharmaceuticals in a research report on Wednesday, July 19th. Canaccord Genuity reiterated a buy rating and set a $56.00 price target on shares of Pacira Pharmaceuticals in a research report on Monday, July 31st. Zacks Investment Research upgraded Pacira Pharmaceuticals from a sell rating to a hold rating in a research report on Friday, August 11th. Finally, Mizuho reiterated a buy rating and set a $53.00 price target (down from $54.00) on shares of Pacira Pharmaceuticals in a research report on Tuesday, August 22nd. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and nine have given a buy rating to the stock. The company currently has a consensus rating of Hold and an average target price of $49.71.
Shares of Pacira Pharmaceuticals (NASDAQ PCRX) opened at $42.75 on Thursday. Pacira Pharmaceuticals has a fifty-two week low of $29.81 and a fifty-two week 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 6.24.
Pacira Pharmaceuticals (NASDAQ:PCRX) last released its quarterly earnings data on Wednesday, November 8th. The company reported $0.11 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.04) by $0.15. The business had revenue of $67.30 million for the quarter, compared to the consensus estimate of $68.99 million. Pacira Pharmaceuticals had a negative net margin of 18.25% and a negative return on equity of 13.77%. The company’s revenue was down 1.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.20 earnings per share. analysts forecast that Pacira Pharmaceuticals will post -0.96 earnings per share for the current year.
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In other news, Director Mark A. Kronenfeld bought 1,000 shares of the business’s stock in a transaction on Friday, November 10th. The stock was acquired at an average price of $41.60 per share, with a total value of $41,600.00. Following the completion of the purchase, the director now directly owns 6,795 shares in the company, valued at $282,672. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Paul J. Hastings sold 1,044 shares of the stock in a transaction that occurred on Tuesday, August 22nd. The shares were sold at an average price of $36.15, for a total value of $37,740.60. Following 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. 6.60% of the stock is owned by corporate insiders.
Several large investors have recently added to or reduced their stakes in PCRX. Bank of New York Mellon Corp boosted its stake in shares of Pacira Pharmaceuticals by 4.2% during the first 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. Parametric Portfolio Associates LLC boosted its stake in shares of Pacira Pharmaceuticals by 56.9% during the first 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. American International Group Inc. boosted its stake in shares of Pacira Pharmaceuticals by 5.3% during the first 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. Alliancebernstein L.P. boosted its stake in shares of Pacira Pharmaceuticals by 33.7% during the first quarter. Alliancebernstein L.P. now owns 82,810 shares of the company’s stock valued at $3,776,000 after purchasing an additional 20,880 shares during the period. Finally, Principal Financial Group Inc. purchased a new stake in shares of Pacira Pharmaceuticals during the first quarter valued at approximately $237,000. 99.64% of the stock is owned by hedge funds and other institutional investors.
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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