Pacira Pharmaceuticals’ (PCRX) “Buy” Rating Reaffirmed at Mizuho
Mizuho restated their buy rating on shares of Pacira Pharmaceuticals, Inc. (NASDAQ:PCRX) in a report released on Tuesday morning. They currently have a $53.00 target price on the stock, down from their prior target price of $54.00.
A number of other research firms have also recently issued reports on PCRX. Royal Bank Of Canada set a $58.00 price target on shares of Pacira Pharmaceuticals and gave the stock a buy rating in a report on Monday, May 15th. Canaccord Genuity reaffirmed a buy rating and issued a $60.00 price target on shares of Pacira Pharmaceuticals in a report on Monday, May 15th. Cowen and Company reaffirmed a hold rating on shares of Pacira Pharmaceuticals in a report on Friday, July 14th. Wedbush reaffirmed an outperform rating and issued a $87.00 price target on shares of Pacira Pharmaceuticals in a report on Wednesday, July 19th. Finally, Zacks Investment Research cut shares of Pacira Pharmaceuticals from a hold rating to a sell rating in a report on Tuesday, May 2nd. Two analysts have rated the stock with a sell rating, seven have given a hold rating and nine have issued a buy rating to the company. The stock has an average rating of Hold and an average price target of $53.92.
Shares of Pacira Pharmaceuticals (NASDAQ:PCRX) opened at 35.85 on Tuesday. Pacira Pharmaceuticals has a one year low of $29.95 and a one year high of $58.95. The company’s market capitalization is $1.45 billion. The firm’s 50-day moving average price is $42.75 and its 200-day moving average price is $45.28.
Pacira Pharmaceuticals (NASDAQ:PCRX) last posted its quarterly earnings results on Wednesday, August 2nd. The company reported ($0.11) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.05) by $0.06. The company had revenue of $70.90 million during the quarter, compared to analysts’ expectations of $73.37 million. Pacira Pharmaceuticals had a negative return on equity of 12.44% and a negative net margin of 23.36%. The company’s quarterly revenue was up 1.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.21 EPS. Analysts anticipate that Pacira Pharmaceuticals will post ($0.12) earnings per share for the current year.
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In other news, SVP Scott Braunstein sold 768 shares of Pacira Pharmaceuticals stock in a transaction dated Monday, June 5th. The shares were sold at an average price of $43.32, for a total value of $33,269.76. Following the sale, the senior vice president now owns 9,982 shares in the company, valued at $432,420.24. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO David M. Stack sold 4,311 shares of Pacira Pharmaceuticals stock in a transaction dated Monday, June 5th. The shares were sold at an average price of $43.32, for a total transaction of $186,752.52. Following the completion of the sale, the chief executive officer now owns 59,559 shares in the company, valued at approximately $2,580,095.88. The disclosure for this sale can be found here. In the last quarter, insiders sold 41,869 shares of company stock worth $1,590,276. Company insiders own 6.60% of the company’s stock.
Several hedge funds have recently made changes to their positions in PCRX. Renaissance Technologies LLC raised its stake in shares of Pacira Pharmaceuticals by 1.6% in the fourth quarter. Renaissance Technologies LLC now owns 25,200 shares of the company’s stock valued at $814,000 after buying an additional 400 shares during the period. Teachers Advisors LLC increased its position in Pacira Pharmaceuticals by 6.2% in the fourth quarter. Teachers Advisors LLC now owns 62,854 shares of the company’s stock valued at $2,030,000 after buying an additional 3,658 shares in the last quarter. Candriam Luxembourg S.C.A. acquired a new position in Pacira Pharmaceuticals during the first quarter valued at $2,736,000. Nationwide Fund Advisors increased its position in Pacira Pharmaceuticals by 147.4% in the first quarter. Nationwide Fund Advisors now owns 56,190 shares of the company’s stock valued at $2,562,000 after buying an additional 33,482 shares in the last quarter. Finally, Fisher Asset Management LLC acquired a new position in Pacira Pharmaceuticals during the first quarter valued at $285,000.
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.
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