HC Wainwright set a $59.00 target price on Pacira Pharmaceuticals, Inc. (NASDAQ:PCRX) in a research report released on Thursday morning. The brokerage currently has a buy rating on the stock.

PCRX has been the topic of several other research reports. Wedbush reaffirmed an outperform rating and issued a $89.00 target price on shares of Pacira Pharmaceuticals in a report on Wednesday, April 19th. Mizuho reaffirmed a buy rating and issued a $54.00 target price on shares of Pacira Pharmaceuticals in a report on Wednesday, July 26th. Canaccord Genuity set a $60.00 target price on shares of Pacira Pharmaceuticals and gave the company a buy rating in a report on Monday, May 22nd. Royal Bank Of Canada set a $58.00 target price on shares of Pacira Pharmaceuticals and gave the company a buy rating in a report on Sunday, July 30th. Finally, Cowen and Company reaffirmed a hold rating on shares of Pacira Pharmaceuticals in a report on Wednesday. Four research analysts have rated the stock with a sell rating, five have assigned a hold rating and eight have given a buy rating to the stock. Pacira Pharmaceuticals presently has a consensus rating of Hold and a consensus target price of $54.50.

Shares of Pacira Pharmaceuticals (PCRX) traded down 1.521% during midday trading on Thursday, hitting $37.225. 934,172 shares of the stock were exchanged. Pacira Pharmaceuticals has a 12 month low of $29.95 and a 12 month high of $58.95. The company’s market cap is $1.49 billion. The stock has a 50 day moving average price of $46.37 and a 200-day moving average price of $45.57.

Pacira Pharmaceuticals (NASDAQ:PCRX) last issued its earnings results on Wednesday, August 2nd. The company reported ($0.11) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.05) by $0.06. The firm had revenue of $70.90 million during the quarter, compared to analysts’ expectations of $73.37 million. Pacira Pharmaceuticals had a negative net margin of 23.36% and a negative return on equity of 12.44%. The firm’s revenue was up 1.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.21 EPS. On average, analysts predict that Pacira Pharmaceuticals will post ($0.07) EPS for the current year.

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In related news, CAO Kristen Marie Williams sold 21,041 shares of the firm’s stock in a transaction dated Monday, May 15th. The shares were sold at an average price of $50.86, for a total value of $1,070,145.26. Following the completion of the sale, the chief accounting officer now owns 18,775 shares in the company, valued at $954,896.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Lauren Bullaro Riker sold 601 shares of the firm’s stock in a transaction dated Monday, June 5th. The shares were sold at an average price of $43.32, for a total transaction of $26,035.32. The disclosure for this sale can be found here. Insiders sold 50,564 shares of company stock valued at $2,506,682 in the last quarter. Company insiders own 6.60% of the company’s stock.

A number of institutional investors have recently made changes to their positions in the company. Benjamin F. Edwards & Company Inc. boosted its position in shares of Pacira Pharmaceuticals by 85.6% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 2,491 shares of the company’s stock worth $114,000 after buying an additional 1,149 shares during the last quarter. FNY Partners Fund LP acquired a new position in shares of Pacira Pharmaceuticals during the first quarter worth about $136,000. Ameritas Investment Partners Inc. acquired a new position in shares of Pacira Pharmaceuticals during the first quarter worth about $144,000. Schnieders Capital Management LLC acquired a new position in shares of Pacira Pharmaceuticals during the second quarter worth about $201,000. Finally, Amalgamated Bank acquired a new position in shares of Pacira Pharmaceuticals during the first quarter worth about $204,000.

About Pacira Pharmaceuticals

Pacira Pharmaceuticals, Inc is a holding company. The Company is a pharmaceutical company focused on the development, manufacture and commercialization of pharmaceutical products, based on its DepoFoam extended release drug delivery technology, for use primarily in hospitals and ambulatory surgery centers.

Analyst Recommendations for Pacira Pharmaceuticals (NASDAQ:PCRX)

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