Wedbush Reaffirms “Buy” Rating for Pacira Pharmaceuticals (NASDAQ:PCRX)

Pacira Pharmaceuticals (NASDAQ:PCRX)‘s stock had its “buy” rating reissued by equities researchers at Wedbush in a note issued to investors on Friday, January 5th.

Other equities analysts have also recently issued research reports about the stock. Bank of America lowered their price objective on shares of Pacira Pharmaceuticals from $46.00 to $45.00 and set a “buy” rating on the stock in a research note on Wednesday, October 4th. Zacks Investment Research raised shares of Pacira Pharmaceuticals from a “hold” rating to a “buy” rating and set a $42.00 price objective on the stock in a research note on Tuesday, October 3rd. Canaccord Genuity reaffirmed a “buy” rating and issued a $44.00 price objective (down previously from $48.00) on shares of Pacira Pharmaceuticals in a research note on Sunday, October 1st. Needham & Company LLC reaffirmed a “buy” rating on shares of Pacira Pharmaceuticals in a research note on Tuesday, September 26th. Finally, Mizuho reiterated a “buy” rating and issued a $53.00 target price on shares of Pacira Pharmaceuticals in a report on Monday, September 25th. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and nine have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $49.00.

Pacira Pharmaceuticals (NASDAQ PCRX) traded down $0.73 during trading on Friday, reaching $41.50. 1,031,870 shares of the company’s stock traded hands, compared to its average volume of 995,789. The firm has a market cap of $1,680.00, a PE ratio of -31.68 and a beta of 2.20. The company has a debt-to-equity ratio of 1.03, a quick ratio of 6.24 and a current ratio of 6.99. Pacira Pharmaceuticals has a 52-week low of $29.81 and a 52-week high of $58.95.

Pacira Pharmaceuticals (NASDAQ:PCRX) last released its earnings results 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 firm had revenue of $67.30 million for the quarter, compared to analysts’ expectations of $68.99 million. Pacira Pharmaceuticals had a negative net margin of 18.25% and a negative return on equity of 13.77%. Pacira Pharmaceuticals’s quarterly revenue was down 1.6% on a year-over-year basis. During the same quarter last year, the company earned $0.20 EPS. equities research analysts anticipate that Pacira Pharmaceuticals will post -0.85 earnings per share for the current year.

In other news, CEO David M. Stack sold 28,885 shares of Pacira Pharmaceuticals stock in a transaction that occurred on Wednesday, January 10th. The shares were sold at an average price of $40.19, for a total value of $1,160,888.15. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CAO Kristen Marie Williams sold 10,000 shares of Pacira Pharmaceuticals stock in a transaction that occurred on Friday, November 17th. The shares were sold at an average price of $40.00, for a total transaction of $400,000.00. Following the completion of the transaction, the chief accounting officer now directly owns 23,455 shares in the company, valued at approximately $938,200. The disclosure for this sale can be found here. In the last three months, insiders sold 98,960 shares of company stock worth $3,868,341. Insiders own 6.60% of the company’s stock.

Hedge funds have recently made changes to their positions in the stock. Northern Trust Corp increased its position in Pacira Pharmaceuticals by 9.1% during the second quarter. Northern Trust Corp now owns 505,529 shares of the company’s stock worth $24,114,000 after acquiring an additional 42,289 shares during the period. State Street Corp increased its position in Pacira Pharmaceuticals by 1.0% during the second quarter. State Street Corp now owns 1,118,083 shares of the company’s stock worth $53,340,000 after acquiring an additional 10,727 shares during the period. Baillie Gifford & Co. increased its position in Pacira Pharmaceuticals by 40.9% during the second quarter. Baillie Gifford & Co. now owns 301,000 shares of the company’s stock worth $14,358,000 after acquiring an additional 87,400 shares during the period. TIAA CREF Investment Management LLC increased its position in Pacira Pharmaceuticals by 40.4% during the second quarter. TIAA CREF Investment Management LLC now owns 191,224 shares of the company’s stock worth $9,121,000 after acquiring an additional 55,057 shares during the period. Finally, Stephens Investment Management Group LLC increased its position in Pacira Pharmaceuticals by 5.1% during the second quarter. Stephens Investment Management Group LLC now owns 942,969 shares of the company’s stock worth $44,980,000 after acquiring an additional 45,514 shares during the period.

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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.

Analyst Recommendations for Pacira Pharmaceuticals (NASDAQ:PCRX)

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