Pacira Pharmaceuticals Inc. (PCRX) Shares Up 4%
Shares of Pacira Pharmaceuticals Inc. (NASDAQ:PCRX) shot up 4% during mid-day trading on Tuesday . The stock traded as high as $41.60 and last traded at $41.05, with a volume of 353,892 shares changing hands. The stock had previously closed at $39.49.
Several brokerages have recently issued reports on PCRX. Mizuho reiterated an “outperform” rating and issued a $64.00 target price on shares of Pacira Pharmaceuticals in a research report on Friday, July 1st. Wedbush reiterated an “outperform” rating and issued a $113.00 target price on shares of Pacira Pharmaceuticals in a research report on Wednesday, May 4th. Zacks Investment Research lowered shares of Pacira Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Friday, July 29th. Piper Jaffray Cos. reiterated an “overweight” rating and issued a $81.00 target price on shares of Pacira Pharmaceuticals in a research report on Wednesday, August 3rd. Finally, TheStreet lowered shares of Pacira Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Monday, May 2nd. Two investment analysts have rated the stock with a sell rating, two have given a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. Pacira Pharmaceuticals has a consensus rating of “Buy” and a consensus price target of $73.64.
The stock’s market cap is $1.53 billion. The company has a 50-day moving average price of $39.99 and a 200 day moving average price of $47.26.
Pacira Pharmaceuticals (NASDAQ:PCRX) last announced its quarterly earnings data on Thursday, August 4th. The company reported $0.19 EPS for the quarter, topping the Zacks’ consensus estimate of $0.03 by $0.16. The firm had revenue of $69.60 million for the quarter, compared to analysts’ expectations of $67.80 million. During the same quarter in the previous year, the company posted $0.20 EPS. The firm’s quarterly revenue was up 17.8% compared to the same quarter last year. On average, analysts predict that Pacira Pharmaceuticals Inc. will post $0.42 EPS for the current fiscal year.
In other news, VP Lauren Bullaro Riker sold 938 shares of the company’s stock in a transaction on Tuesday, June 7th. The shares were 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 transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Kristen Marie Williams sold 600 shares of the company’s stock in a transaction on 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 directly owns 6,900 shares in the company, valued at $325,680. The disclosure for this sale can be found here.
An institutional investor recently raised its position in Pacira Pharmaceuticals stock. KBC Group NV increased its position in Pacira Pharmaceuticals Inc. (NASDAQ:PCRX) by 2,685.7% during the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 28,024 shares of the company’s stock after buying an additional 27,018 shares during the period. KBC Group NV owned approximately 0.08% of Pacira Pharmaceuticals worth $2,152,000 at the end of the most recent 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.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.