Pacira Pharmaceuticals, Inc. (PCRX) Earns Buy Rating from Canaccord Genuity
Canaccord Genuity reiterated their buy rating on shares of Pacira Pharmaceuticals, Inc. (NASDAQ:PCRX) in a report issued on Sunday morning, MarketBeat.com reports. Canaccord Genuity currently has a $44.00 price target on the stock, down from their previous price target of $48.00.
PCRX has been the topic of a number of other research reports. CIBC started coverage on Pacira Pharmaceuticals in a research note on Thursday, September 7th. They issued a market perform rating on the stock. Mizuho restated a buy rating and issued a $54.00 price target on shares of Pacira Pharmaceuticals in a research note on Wednesday, July 26th. Jefferies Group LLC restated a buy rating and issued a $59.00 price target on shares of Pacira Pharmaceuticals in a research note on Thursday, September 7th. Needham & Company LLC restated a buy rating on shares of Pacira Pharmaceuticals in a research note on Tuesday, September 26th. Finally, Cowen and Company reiterated a hold rating on shares of Pacira Pharmaceuticals in a research report on Wednesday, August 2nd. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and eleven have assigned a buy rating to the company. Pacira Pharmaceuticals presently has a consensus rating of Hold and a consensus price target of $52.07.
Pacira Pharmaceuticals (NASDAQ:PCRX) opened at 36.30 on Friday. The company’s market cap is $1.46 billion. Pacira Pharmaceuticals has a 52-week low of $29.95 and a 52-week high of $58.95. The stock has a 50 day moving average of $37.01 and a 200-day moving average of $43.46.
Pacira Pharmaceuticals (NASDAQ:PCRX) last released its quarterly earnings data on Wednesday, August 2nd. The company reported ($0.11) EPS for the quarter, missing the consensus estimate of ($0.05) by ($0.06). Pacira Pharmaceuticals had a negative net margin of 23.36% and a negative return on equity of 12.44%. The company had revenue of $70.90 million during the quarter, compared to analyst estimates of $73.37 million. During the same period in the previous year, the company posted $0.21 EPS. The company’s quarterly revenue was up 1.9% compared to the same quarter last year. On average, analysts forecast that Pacira Pharmaceuticals will post ($0.17) EPS for the current year.
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In other Pacira Pharmaceuticals news, CAO Kristen Marie Williams sold 3,461 shares of Pacira Pharmaceuticals stock in a transaction that occurred on Tuesday, August 15th. The stock was sold at an average price of $36.75, for a total value of $127,191.75. Following the completion of the sale, the chief accounting officer now directly owns 21,312 shares in the company, valued at $783,216. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Paul J. Hastings sold 1,044 shares of Pacira Pharmaceuticals stock in a transaction that occurred on Tuesday, August 22nd. The stock was sold at an average price of $36.15, for a total value of $37,740.60. Following the completion of the sale, the director now owns 3,518 shares of the company’s stock, valued at $127,175.70. The disclosure for this sale can be found here. Insiders have sold 33,390 shares of company stock valued at $1,215,480 over the last 90 days. 6.60% of the stock is owned by corporate insiders.
A number of hedge funds have recently modified their holdings of the business. Public Employees Retirement System of Ohio bought a new stake in Pacira Pharmaceuticals in the second quarter worth approximately $1,782,000. Ameritas Investment Partners Inc. increased its holdings in Pacira Pharmaceuticals by 9.6% in the second quarter. Ameritas Investment Partners Inc. now owns 3,449 shares of the company’s stock worth $165,000 after purchasing an additional 302 shares in the last quarter. The Manufacturers Life Insurance Company increased its holdings in Pacira Pharmaceuticals by 6.6% in the second quarter. The Manufacturers Life Insurance Company now owns 30,307 shares of the company’s stock worth $1,446,000 after purchasing an additional 1,872 shares in the last quarter. Arrowstreet Capital Limited Partnership bought a new stake in Pacira Pharmaceuticals in the second quarter worth approximately $572,000. Finally, Cubist Systematic Strategies LLC increased its holdings in Pacira Pharmaceuticals by 121.5% in the second quarter. Cubist Systematic Strategies LLC now owns 3,194 shares of the company’s stock worth $152,000 after purchasing an additional 1,752 shares in the last quarter.
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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