Pacira Pharmaceuticals Inc. (PCRX) Trading Up 5.2%
Shares of Pacira Pharmaceuticals Inc. (NASDAQ:PCRX) were up 5.2% during mid-day trading on Wednesday . The stock traded as high as $35.25 and last traded at $35.24, with a volume of 547,614 shares trading hands. The stock had previously closed at $33.49.
Several analysts have issued reports on PCRX shares. Canaccord Genuity restated a “buy” rating on shares of Pacira Pharmaceuticals in a research note on Wednesday, April 20th. BMO Capital Markets started coverage on Pacira Pharmaceuticals in a research note on Tuesday, June 28th. They issued an “underperform” rating and a $36.00 target price on the stock. Mizuho started coverage on Pacira Pharmaceuticals in a research note on Tuesday, April 19th. They issued a “buy” rating and a $79.00 target price on the stock. Wedbush restated an “outperform” rating and issued a $105.00 target price on shares of Pacira Pharmaceuticals in a research note on Wednesday, June 22nd. Finally, Zacks Investment Research upgraded Pacira Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Tuesday, April 26th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and eight have assigned a buy rating to the company. Pacira Pharmaceuticals presently has a consensus rating of “Hold” and an average price target of $78.15.
The company’s market capitalization is $1.31 billion. The company has a 50-day moving average of $41.85 and a 200-day moving average of $54.65.
Pacira Pharmaceuticals (NASDAQ:PCRX) last announced its quarterly earnings data on Monday, May 2nd. The company reported $0.15 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.07 by $0.08. The company earned $65.50 million during the quarter, compared to analyst estimates of $67.11 million. The firm’s revenue for the quarter was up 12.3% on a year-over-year basis. During the same quarter last year, the business earned $0.27 EPS. Equities research analysts expect that Pacira Pharmaceuticals Inc. will post $0.38 EPS for the current year.
In other Pacira Pharmaceuticals news, CEO David M. Stack sold 25,000 shares of Pacira Pharmaceuticals stock in a transaction dated Friday, April 15th. The shares were sold at an average price of $64.14, for a total transaction of $1,603,500.00. Following the completion of the transaction, the chief executive officer now owns 25,285 shares in the company, valued at $1,621,779.90. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Kristen Marie Williams sold 600 shares of Pacira Pharmaceuticals stock in a transaction dated Monday, June 6th. The stock was sold at an average price of $47.20, for a total transaction of $28,320.00. Following the transaction, the chief accounting officer now owns 6,900 shares of the company’s stock, valued at approximately $325,680. The disclosure for this sale can be found here.
A number of institutional investors have made changes to their positions in the company. Stephens Investment Management Group LLC boosted its position in shares of Pacira Pharmaceuticals by 10.0% in the fourth quarter. Stephens Investment Management Group LLC now owns 540,687 shares of the company’s stock worth $41,519,000 after buying an additional 49,018 shares during the last quarter. Stephens Inc. AR boosted its position in shares of Pacira Pharmaceuticals by 3.9% in the fourth quarter. Stephens Inc. AR now owns 21,557 shares of the company’s stock worth $1,655,000 after buying an additional 806 shares during the last quarter. Morgan Stanley boosted its position in shares of Pacira Pharmaceuticals by 28.7% in the fourth quarter. Morgan Stanley now owns 120,614 shares of the company’s stock worth $9,261,000 after buying an additional 26,865 shares during the last quarter. Mutual of America Capital Management LLC boosted its position in shares of Pacira Pharmaceuticals by 0.6% in the fourth quarter. Mutual of America Capital Management LLC now owns 24,198 shares of the company’s stock worth $1,858,000 after buying an additional 142 shares during the last quarter. Finally, EAM Investors LLC acquired a new position in shares of Pacira Pharmaceuticals during the fourth quarter worth about $2,997,000.
Pacira Pharmaceuticals, Inc is a specialty pharmaceutical company. The Company is focused on the development, commercialization and manufacture of pharmaceutical products, based on its DepoFoam drug delivery technology, for use in hospitals and ambulatory surgery centers. Its primary focus lies in the development of non-opioid products for postsurgical pain control.
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