Pacira Pharmaceuticals, Inc. (NASDAQ:PCRX) Position Reduced by Hodges Capital Management Inc.
Hodges Capital Management Inc. cut its stake in shares of Pacira Pharmaceuticals, Inc. (NASDAQ:PCRX) by 96.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,000 shares of the company’s stock after selling 140,000 shares during the period. Hodges Capital Management Inc.’s holdings in Pacira Pharmaceuticals were worth $238,000 at the end of the most recent reporting period.
A number of other institutional investors also recently made changes to their positions in the stock. BlackRock Inc. raised its position in shares of Pacira Pharmaceuticals by 28,922.7% in the first quarter. BlackRock Inc. now owns 3,183,787 shares of the company’s stock valued at $145,180,000 after buying an additional 3,172,817 shares in the last quarter. Tudor Investment Corp ET AL bought a new position in shares of Pacira Pharmaceuticals during the first quarter valued at approximately $22,867,000. Norges Bank bought a new position in shares of Pacira Pharmaceuticals during the fourth quarter valued at approximately $13,258,000. Russell Investments Group Ltd. raised its position in shares of Pacira Pharmaceuticals by 3,599.8% in the second quarter. Russell Investments Group Ltd. now owns 283,513 shares of the company’s stock valued at $13,524,000 after buying an additional 275,850 shares in the last quarter. Finally, Ameriprise Financial Inc. raised its position in shares of Pacira Pharmaceuticals by 788.0% in the first quarter. Ameriprise Financial Inc. now owns 282,531 shares of the company’s stock valued at $12,884,000 after buying an additional 250,714 shares in the last quarter.
Shares of Pacira Pharmaceuticals, Inc. (PCRX) opened at 36.20 on Friday. Pacira Pharmaceuticals, Inc. has a one year low of $29.95 and a one year high of $58.95. The firm’s market capitalization is $1.46 billion. The company’s 50 day moving average price is $44.96 and its 200 day moving average price is $45.30.
Pacira Pharmaceuticals (NASDAQ:PCRX) last issued its quarterly earnings data 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 company had revenue of $70.90 million for the quarter, compared to the consensus estimate of $73.37 million. Pacira Pharmaceuticals had a negative return on equity of 12.44% and a negative net margin of 23.36%. Pacira Pharmaceuticals’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.21 earnings per share. On average, analysts expect that Pacira Pharmaceuticals, Inc. will post ($0.13) EPS for the current fiscal year.
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PCRX has been the topic of a number of research reports. Zacks Investment Research lowered shares of Pacira Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Tuesday, May 2nd. Wedbush restated an “outperform” rating and set a $87.00 target price on shares of Pacira Pharmaceuticals in a research report on Wednesday, June 21st. Royal Bank Of Canada initiated coverage on shares of Pacira Pharmaceuticals in a research report on Thursday, April 13th. They set an “outperform” rating and a $58.00 target price on the stock. Canaccord Genuity restated a “buy” rating and set a $60.00 target price on shares of Pacira Pharmaceuticals in a research report on Monday, May 15th. Finally, BidaskClub upgraded shares of Pacira Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Wednesday, July 5th. Four analysts have rated the stock with a sell rating, five have given a hold rating and eight have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $54.50.
In related news, President James S. Scibetta sold 20,000 shares of the company’s 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 sale was disclosed in a document filed with the SEC, which is available through this link. Also, CAO Kristen Marie Williams sold 21,041 shares of the company’s stock in a transaction on Monday, May 15th. The stock was sold at an average price of $50.86, for a total value of $1,070,145.26. Following the transaction, the chief accounting officer now owns 18,775 shares of the company’s stock, valued at $954,896.50. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 50,564 shares of company stock valued at $2,506,682. 6.60% of the stock is owned by company insiders.
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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