Pacira Pharmaceuticals, Inc. (PCRX) Raised to Hold at Zacks Investment Research
According to Zacks, “Pacira’s efforts to expand Exparel's label to boost sales in oral surgery and chronic pain are encouraging. The recent launch of Exparel in the oral surgeon community which facilitates a move from inpatient to outpatient surgery should bring in additional sales in the coming quarters. Pacira is looking to expand Exparel's label in the animal health market as well. However, Pacira’s sole dependence on Exparel for top-line growth is concerning. The company suffered a major setback when it received a Complete Response Letter (CRL) from the FDA for use of Exparel in nerve block to provide postsurgical analgesia. We are also concerned about the lack of other late-stage candidates in the company’s pipeline. Its share price has grossly underperformed the broader industry in the past one year. Loss estimates are widening ahead the company’s Q4 release.”
Several other research analysts have also weighed in on PCRX. HC Wainwright began coverage on Pacira Pharmaceuticals in a research report on Tuesday, January 3rd. They set a buy rating and a $43.00 price target on the stock. Wedbush reaffirmed an outperform rating and set a $89.00 price target on shares of Pacira Pharmaceuticals in a research report on Thursday, January 5th. Mizuho decreased their target price on Pacira Pharmaceuticals from $64.00 to $46.00 and set a buy rating on the stock in a report on Thursday, November 3rd. Goldman Sachs Group, Inc. (The) began coverage on Pacira Pharmaceuticals in a report on Thursday, December 1st. They set a neutral rating and a $36.00 target price on the stock. Finally, Brean Capital began coverage on Pacira Pharmaceuticals in a report on Friday, October 7th. They set a hold rating on the stock. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and eight have issued a buy rating to the company. Pacira Pharmaceuticals has an average rating of Hold and an average target price of $59.50.
Pacira Pharmaceuticals (NASDAQ:PCRX) traded up 1.27% on Tuesday, reaching $39.95. The company had a trading volume of 444,309 shares. Pacira Pharmaceuticals has a 12 month low of $29.95 and a 12 month high of $70.86. The company’s market capitalization is $1.49 billion. The company’s 50 day moving average price is $32.70 and its 200-day moving average price is $36.39.
Pacira Pharmaceuticals (NASDAQ:PCRX) last posted its quarterly earnings results on Wednesday, November 2nd. The company reported $0.20 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.02) by $0.22. The firm had revenue of $68.40 million for the quarter, compared to analyst estimates of $67.16 million. Pacira Pharmaceuticals had a negative return on equity of 1.52% and a negative net margin of 13.37%. The business’s quarterly revenue was up 10.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.32 EPS. On average, equities analysts predict that Pacira Pharmaceuticals will post $0.54 earnings per share for the current fiscal year.
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A number of hedge funds have recently added to or reduced their stakes in the stock. BNP Paribas Arbitrage SA increased its stake in Pacira Pharmaceuticals by 111.3% in the third quarter. BNP Paribas Arbitrage SA now owns 3,051 shares of the company’s stock valued at $104,000 after buying an additional 1,607 shares during the period. BlackRock Inc. increased its stake in Pacira Pharmaceuticals by 60.5% in the second quarter. BlackRock Inc. now owns 4,007 shares of the company’s stock worth $135,000 after buying an additional 1,510 shares during the last quarter. Acrospire Investment Management LLC increased its stake in Pacira Pharmaceuticals by 2,000.0% in the third quarter. Acrospire Investment Management LLC now owns 4,200 shares of the company’s stock worth $144,000 after buying an additional 4,000 shares during the last quarter. US Bancorp DE increased its stake in Pacira Pharmaceuticals by 8.5% in the second quarter. US Bancorp DE now owns 5,010 shares of the company’s stock worth $169,000 after buying an additional 394 shares during the last quarter. Finally, Teacher Retirement System of Texas increased its stake in Pacira Pharmaceuticals by 13.6% in the second quarter. Teacher Retirement System of Texas now owns 5,184 shares of the company’s stock worth $175,000 after buying an additional 622 shares during the last quarter.
About Pacira Pharmaceuticals
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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