Pacira Pharmaceuticals, Inc. (PCRX) Price Target Cut to $40.00 by Analysts at BMO Capital Markets
Pacira Pharmaceuticals, Inc. (NASDAQ:PCRX) had its price target decreased by BMO Capital Markets from $42.00 to $40.00 in a research note published on Thursday. BMO Capital Markets currently has a market perform rating on the stock.
Several other research firms have also recently issued reports on PCRX. HC Wainwright set a $59.00 target price on shares of Pacira Pharmaceuticals and gave the stock a buy rating in a research note on Thursday. BidaskClub cut shares of Pacira Pharmaceuticals from a sell rating to a strong sell rating in a research note on Wednesday. Cowen and Company reiterated a hold rating on shares of Pacira Pharmaceuticals in a research note on Wednesday. Canaccord Genuity reiterated a buy rating and issued a $56.00 target price on shares of Pacira Pharmaceuticals in a research note on Monday, July 31st. Finally, Royal Bank Of Canada set a $58.00 target price on shares of Pacira Pharmaceuticals and gave the stock a buy rating in a research note on Sunday, July 30th. Four equities research analysts have rated the stock with a sell rating, five have issued a hold rating and eight have given a buy rating to the stock. The stock has a consensus rating of Hold and an average price target of $54.50.
Shares of Pacira Pharmaceuticals (PCRX) traded down 1.521% during trading on Thursday, hitting $37.225. The stock had a trading volume of 934,172 shares. The company’s market capitalization is $1.49 billion. The firm has a 50-day moving average of $46.37 and a 200 day moving average of $45.57. Pacira Pharmaceuticals has a 1-year low of $29.95 and a 1-year high of $58.95.
Pacira Pharmaceuticals (NASDAQ:PCRX) last announced its quarterly earnings results on Wednesday, August 2nd. The company reported ($0.11) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.05) by $0.06. The business had revenue of $70.90 million for 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 business’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.21 earnings per share. Equities research analysts predict that Pacira Pharmaceuticals will post ($0.07) earnings per share for the current fiscal year.
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In other news, CAO Kristen Marie Williams sold 1,877 shares of the stock in a transaction on Monday, June 5th. The shares were sold at an average price of $43.32, for a total value of $81,311.64. Following the transaction, the chief accounting officer now owns 13,773 shares of the company’s stock, valued at approximately $596,646.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, President James S. Scibetta sold 20,000 shares of the stock in a transaction on Monday, May 15th. The stock was sold at an average price of $51.20, for a total transaction of $1,024,000.00. Following the completion of the transaction, the president now directly owns 47,084 shares in the company, valued at approximately $2,410,700.80. The disclosure for this sale can be found here. Insiders sold a total of 50,564 shares of company stock worth $2,506,682 in the last three months. Insiders own 6.60% of the company’s stock.
Institutional investors have recently modified their holdings of the company. Tygh Capital Management Inc. bought a new position in shares of Pacira Pharmaceuticals during the first quarter worth approximately $5,021,000. Capital Fund Management S.A. bought a new position in shares of Pacira Pharmaceuticals during the first quarter worth approximately $300,000. Massmutual Trust Co. FSB ADV bought a new position in shares of Pacira Pharmaceuticals during the first quarter worth approximately $256,000. Public Employees Retirement Association of Colorado raised its position in shares of Pacira Pharmaceuticals by 12.4% in the first quarter. Public Employees Retirement Association of Colorado now owns 251,088 shares of the company’s stock worth $11,450,000 after buying an additional 27,635 shares during the last quarter. Finally, Biondo Investment Advisors LLC raised its position in shares of Pacira Pharmaceuticals by 15.5% in the first quarter. Biondo Investment Advisors LLC now owns 164,622 shares of the company’s stock worth $5,553,000 after buying an additional 22,149 shares during the last quarter.
Pacira Pharmaceuticals Company Profile
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.
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