Pacira Pharmaceuticals (PCRX) Lowered to Hold at Needham & Company LLC

Needham & Company LLC lowered shares of Pacira Pharmaceuticals (NASDAQ:PCRX) from a buy rating to a hold rating in a report issued on Friday morning. The brokerage currently has $55.00 price target on the stock.

Several other analysts also recently issued reports on the stock. BidaskClub raised shares of Pacira Pharmaceuticals from a hold rating to a buy rating in a report on Friday, December 29th. Janney Montgomery Scott downgraded shares of Pacira Pharmaceuticals from a neutral rating to a sell rating and set a $27.00 price target on the stock. in a report on Thursday, October 26th. Leerink Swann started coverage on shares of Pacira Pharmaceuticals in a report on Tuesday, January 2nd. They issued a market perform rating and a $46.00 price target on the stock. Piper Jaffray Companies reaffirmed a buy rating and issued a $55.00 price target on shares of Pacira Pharmaceuticals in a report on Friday, October 27th. Finally, Canaccord Genuity downgraded shares of Pacira Pharmaceuticals from a buy rating to a hold rating and reduced their price target for the company from $44.00 to $33.00 in a report on Monday, October 30th. Four investment analysts have rated the stock with a sell rating, eleven have given a hold rating and eight have given a buy rating to the company’s stock. Pacira Pharmaceuticals currently has a consensus rating of Hold and a consensus target price of $46.53.

Shares of Pacira Pharmaceuticals (PCRX) traded down $5.95 during midday trading on Friday, hitting $30.15. 3,918,223 shares of the company’s stock traded hands, compared to its average volume of 1,073,934. Pacira Pharmaceuticals has a 12 month low of $29.35 and a 12 month high of $58.95. The stock has a market capitalization of $1,464.58, a P/E ratio of -23.02 and a beta of 1.88. The company has a quick ratio of 6.24, a current ratio of 6.99 and a debt-to-equity ratio of 1.03.

In related news, SVP James B. Jones sold 850 shares of the company’s stock in a transaction that occurred on Monday, November 20th. The shares were sold at an average price of $41.11, for a total transaction of $34,943.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO David M. Stack sold 28,885 shares of the company’s stock in a transaction that occurred on Wednesday, January 10th. The stock was sold at an average price of $40.19, for a total transaction of $1,160,888.15. The disclosure for this sale can be found here. Insiders have sold 30,075 shares of company stock worth $1,210,690 in the last three months. Insiders own 6.60% of the company’s stock.

A number of hedge funds have recently modified their holdings of PCRX. 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 purchasing an additional 42,289 shares during the last quarter. Vanguard Group Inc. increased its position in Pacira Pharmaceuticals by 7.4% during the second quarter. Vanguard Group Inc. now owns 3,072,074 shares of the company’s stock worth $146,538,000 after purchasing an additional 211,982 shares during the last quarter. California Public Employees Retirement System increased its position in Pacira Pharmaceuticals by 2.2% during the second quarter. California Public Employees Retirement System now owns 64,700 shares of the company’s stock worth $3,086,000 after purchasing an additional 1,400 shares during the last quarter. Parametric Portfolio Associates LLC increased its position in Pacira Pharmaceuticals by 26.0% during the second quarter. Parametric Portfolio Associates LLC now owns 111,193 shares of the company’s stock worth $5,304,000 after purchasing an additional 22,949 shares during the last quarter. Finally, QS Investors LLC acquired a new position in Pacira Pharmaceuticals during the second quarter worth approximately $157,000.

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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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