Pacira Pharmaceuticals Inc. (NASDAQ:PCRX)’s share price dropped 3.4% during trading on Wednesday . The company traded as low as $34.96 and last traded at $35.68, with a volume of 251,043 shares trading hands. The stock had previously closed at $36.95.

PCRX has been the subject of a number of analyst reports. BMO Capital Markets initiated coverage on shares of Pacira Pharmaceuticals in a research report on Tuesday, June 28th. They issued an “underperform” rating and a $36.00 price objective for the company. Brean Capital lowered shares of Pacira Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Friday, July 1st. Wedbush restated an “outperform” rating and issued a $113.00 price objective on shares of Pacira Pharmaceuticals in a research report on Wednesday, April 20th. Mizuho restated an “outperform” rating and issued a $64.00 price objective on shares of Pacira Pharmaceuticals in a research report on Friday, July 1st. Finally, Canaccord Genuity restated a “buy” rating on shares of Pacira Pharmaceuticals in a research report on Wednesday, April 20th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and eight have given a buy rating to the company’s stock. Pacira Pharmaceuticals has a consensus rating of “Hold” and a consensus price target of $78.15.

The company has a 50-day moving average of $41.02 and a 200-day moving average of $53.47. The firm’s market cap is $1.29 billion.

Pacira Pharmaceuticals (NASDAQ:PCRX) last released its quarterly earnings results 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 business had revenue of $65.50 million for the quarter, compared to analysts’ expectations of $67.11 million. Pacira Pharmaceuticals’s revenue for the quarter was up 12.3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.27 EPS. On average, analysts predict that Pacira Pharmaceuticals Inc. will post $0.38 EPS for the current fiscal year.

In related news, CEO David M. Stack sold 25,000 shares of the stock in a transaction that occurred on Friday, April 15th. The shares were sold at an average price of $64.14, for a total value of $1,603,500.00. Following the completion of the sale, the chief executive officer now directly owns 25,285 shares of the company’s stock, valued at approximately $1,621,779.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Mark A. Kronenfeld sold 900 shares of the stock in a transaction that occurred on Monday, June 6th. The stock was sold at an average price of $46.95, for a total transaction of $42,255.00. Following the completion of the sale, the director now directly owns 2,950 shares of the company’s stock, valued at $138,502.50. The disclosure for this sale can be found here.

Other large investors have recently added to or reduced their stakes in the company. Engineers Gate Manager LP purchased a new stake in Pacira Pharmaceuticals during the fourth quarter valued at about $1,005,000. Stephens Inc. AR raised its stake in Pacira Pharmaceuticals by 3.9% in the fourth quarter. Stephens Inc. AR now owns 21,557 shares of the company’s stock valued at $1,655,000 after buying an additional 806 shares in the last quarter. Mutual of America Capital Management LLC raised its stake in 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 valued at $1,858,000 after buying an additional 142 shares in the last quarter. ProShare Advisors LLC raised its stake in Pacira Pharmaceuticals by 10.6% in the fourth quarter. ProShare Advisors LLC now owns 36,239 shares of the company’s stock valued at $2,783,000 after buying an additional 3,477 shares in the last quarter. Finally, EAM Investors LLC purchased a new stake in Pacira Pharmaceuticals during the fourth quarter valued at 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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