ValuEngine upgraded shares of Pacira Pharmaceuticals (NASDAQ:PCRX) from a sell rating to a hold rating in a report released on Thursday morning.
A number of other research analysts have also recently issued reports on the stock. Wedbush decreased their price objective on shares of Pacira Pharmaceuticals from $72.00 to $80.00 and set an outperform rating for the company in a report on Monday, April 9th. JPMorgan Chase & Co. restated a hold rating and set a $43.00 price objective (up previously from $40.00) on shares of Pacira Pharmaceuticals in a report on Monday, April 9th. Seaport Global Securities restated a buy rating and set a $42.00 price objective on shares of Pacira Pharmaceuticals in a report on Tuesday, March 20th. Mizuho decreased their price objective on shares of Pacira Pharmaceuticals from $44.00 to $31.00 and set a neutral rating for the company in a report on Wednesday, March 21st. Finally, Zacks Investment Research upgraded shares of Pacira Pharmaceuticals from a sell rating to a hold rating in a report on Tuesday, March 6th. Two research analysts have rated the stock with a sell rating, thirteen have given a hold rating and nine have issued a buy rating to the stock. The company presently has a consensus rating of Hold and a consensus target price of $45.00.
Shares of NASDAQ PCRX opened at $33.75 on Thursday. The company has a market cap of $1.40 billion, a P/E ratio of -58.19 and a beta of 1.77. The company has a quick ratio of 7.83, a current ratio of 8.66 and a debt-to-equity ratio of 1.00. Pacira Pharmaceuticals has a 52-week low of $26.95 and a 52-week high of $51.10.
Pacira Pharmaceuticals (NASDAQ:PCRX) last issued its quarterly earnings data on Thursday, May 3rd. The company reported $0.02 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.02. The firm had revenue of $74.61 million during the quarter, compared to analysts’ expectations of $73.92 million. Pacira Pharmaceuticals had a negative net margin of 11.45% and a negative return on equity of 5.81%. The business’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.19) earnings per share. equities research analysts predict that Pacira Pharmaceuticals will post -0.57 earnings per share for the current year.
In related news, VP Lauren Bullaro Riker sold 801 shares of the stock in a transaction on Monday, June 4th. The shares were sold at an average price of $33.02, for a total transaction of $26,449.02. Following the completion of the transaction, the vice president now owns 9,641 shares in the company, valued at $318,345.82. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Richard Scranton sold 1,367 shares of the stock in a transaction on Monday, June 4th. The stock was sold at an average price of $33.02, for a total transaction of $45,138.34. Following the transaction, the insider now owns 12,226 shares of the company’s stock, valued at approximately $403,702.52. The disclosure for this sale can be found here. Insiders have sold 49,093 shares of company stock valued at $1,700,983 in the last 90 days. 5.90% of the stock is currently owned by corporate insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in PCRX. venBio Select Advisor LLC boosted its holdings in Pacira Pharmaceuticals by 102.1% during the first quarter. venBio Select Advisor LLC now owns 1,715,072 shares of the company’s stock worth $53,424,000 after purchasing an additional 866,500 shares during the last quarter. PointState Capital LP boosted its holdings in Pacira Pharmaceuticals by 71.1% during the first quarter. PointState Capital LP now owns 2,038,153 shares of the company’s stock worth $63,488,000 after purchasing an additional 847,146 shares during the last quarter. Millennium Management LLC acquired a new position in Pacira Pharmaceuticals during the fourth quarter worth $24,644,000. Nexthera Capital LP acquired a new position in Pacira Pharmaceuticals during the first quarter worth $14,909,000. Finally, Summit Trail Advisors LLC boosted its holdings in Pacira Pharmaceuticals by 2,888.3% during the first quarter. Summit Trail Advisors LLC now owns 399,688 shares of the company’s stock worth $400,000 after purchasing an additional 386,313 shares during the last quarter.
About Pacira Pharmaceuticals
Pacira Pharmaceuticals, Inc, a specialty pharmaceutical company, develops, manufactures, and commercializes proprietary pharmaceutical products primarily for use in hospitals and ambulatory surgery centers in the United States. It develops pharmaceutical products based on its proprietary DepoFoam drug delivery technology.
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