Pacira Pharmaceuticals (PCRX) Shares Down 16.5%

Pacira Pharmaceuticals Inc (NASDAQ:PCRX)’s share price dropped 16.5% during trading on Monday . The company traded as low as $29.35 and last traded at $30.15. Approximately 3,918,200 shares traded hands during mid-day trading, an increase of 251% from the average daily volume of 1,114,781 shares. The stock had previously closed at $36.10.

PCRX has been the subject of a number of recent research reports. Jefferies Group dropped their price objective on shares of Pacira Pharmaceuticals to $52.00 and set a “buy” rating for the company in a research note on Thursday, November 9th. ValuEngine raised shares of Pacira Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Wednesday, January 10th. Canaccord Genuity set a $42.00 target price on shares of Pacira Pharmaceuticals and gave the stock a “hold” rating in a report on Wednesday, November 29th. Piper Jaffray Companies restated a “buy” rating and issued a $55.00 target price on shares of Pacira Pharmaceuticals in a report on Friday, October 27th. Finally, Wedbush restated an “outperform” rating and issued a $87.00 target price on shares of Pacira Pharmaceuticals in a report on Wednesday, October 25th. Four equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eight have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $46.53.

The firm has a market capitalization of $1,220.00, a price-to-earnings ratio of -23.02 and a beta of 1.88. The company has a debt-to-equity ratio of 1.03, a quick ratio of 6.24 and a current ratio of 6.99.

In related news, CEO David M. Stack sold 28,885 shares of Pacira Pharmaceuticals stock in a transaction dated Wednesday, January 10th. The shares were sold at an average price of $40.19, for a total transaction of $1,160,888.15. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 6.60% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. MetLife Investment Advisors LLC bought a new stake in Pacira Pharmaceuticals during the 4th quarter valued at about $845,000. Redmile Group LLC bought a new stake in Pacira Pharmaceuticals during the 4th quarter valued at about $237,000. Element Capital Management LLC bought a new stake in Pacira Pharmaceuticals during the 4th quarter valued at about $6,144,000. Macquarie Group Ltd. lifted its holdings in Pacira Pharmaceuticals by 9.7% during the 4th quarter. Macquarie Group Ltd. now owns 1,266,414 shares of the company’s stock valued at $57,812,000 after buying an additional 111,869 shares in the last quarter. Finally, Jane Street Group LLC bought a new stake in Pacira Pharmaceuticals during the 4th quarter valued at about $501,000.

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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.

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