Pacira Pharmaceuticals Inc. (NASDAQ:PCRX) dropped 3.5% during trading on Friday . The stock traded as low as $42.31 and last traded at $43.08, with a volume of 494,368 shares changing hands. The stock had previously closed at $44.63.

PCRX has been the topic of several recent analyst reports. BMO Capital Markets initiated coverage on Pacira Pharmaceuticals in a research report on Tuesday, June 28th. They set an “underperform” rating and a $36.00 price objective on the stock. Wedbush reaffirmed an “outperform” rating and set a $105.00 price objective on shares of Pacira Pharmaceuticals in a research report on Wednesday, July 20th. Brean Capital cut Pacira Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Friday, July 1st. Mizuho reaffirmed an “outperform” rating and set a $64.00 price objective on shares of Pacira Pharmaceuticals in a research report on Friday, July 1st. Finally, Zacks Investment Research cut Pacira Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Friday, July 29th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and seven have given a buy rating to the company’s stock. Pacira Pharmaceuticals has an average rating of “Hold” and an average target price of $72.73.

The company has a 50-day moving average of $37.27 and a 200-day moving average of $49.75. The company’s market cap is $1.62 billion.

Pacira Pharmaceuticals (NASDAQ:PCRX) last released its quarterly earnings results on Thursday, August 4th. The company reported $0.19 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.03 by $0.16. The company earned $69.60 million during the quarter, compared to the consensus estimate of $67.80 million. The company’s revenue was up 17.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.20 earnings per share. On average, analysts expect that Pacira Pharmaceuticals Inc. will post $0.30 EPS for the current fiscal year.

In related news, VP Lauren Bullaro Riker sold 938 shares of the company’s stock in a transaction dated Tuesday, June 7th. The stock was sold at an average price of $47.66, for a total transaction of $44,705.08. Following the transaction, the vice president now directly owns 5,945 shares of the company’s stock, valued at approximately $283,338.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Kristen Marie Williams sold 600 shares of the company’s stock in a transaction dated Monday, June 6th. The shares were sold at an average price of $47.20, for a total value of $28,320.00. Following the transaction, the chief accounting officer now directly owns 6,900 shares in the company, valued at $325,680. The disclosure for this sale can be found here.

A number of hedge funds and institutional investors have made changes to their positions in PCRX. OppenheimerFunds Inc. acquired a new position in shares of Pacira Pharmaceuticals during the fourth quarter valued at about $10,171,000. California Public Employees Retirement System raised its position in shares of Pacira Pharmaceuticals by 182.5% in the fourth quarter. California Public Employees Retirement System now owns 77,400 shares of the company’s stock valued at $5,944,000 after buying an additional 50,000 shares in the last quarter. Stephens Investment Management Group LLC raised 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 valued at $41,519,000 after buying an additional 49,018 shares in the last quarter. KBC Group NV raised its position in shares of Pacira Pharmaceuticals by 2,685.7% in the fourth quarter. KBC Group NV now owns 28,024 shares of the company’s stock valued at $2,152,000 after buying an additional 27,018 shares in the last quarter. Finally, Morgan Stanley raised 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 valued at $9,261,000 after buying an additional 26,865 shares in the last quarter.

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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