Pacira Pharmaceuticals, Inc. (PCRX) Given “Buy” Rating at Wedbush
Wedbush reaffirmed their buy rating on shares of Pacira Pharmaceuticals, Inc. (NASDAQ:PCRX) in a research report sent to investors on Monday. Wedbush currently has a $80.00 price target on the stock. Wedbush also issued estimates for Pacira Pharmaceuticals’ Q4 2017 earnings at ($0.31) EPS, FY2017 earnings at ($1.08) EPS, FY2018 earnings at ($1.32) EPS, FY2019 earnings at ($0.37) EPS and FY2020 earnings at $0.85 EPS.
Several other brokerages have also recently weighed in on PCRX. Mizuho restated a buy rating and set a $54.00 price objective on shares of Pacira Pharmaceuticals in a research note on Wednesday, July 26th. Canaccord Genuity set a $56.00 price objective on Pacira Pharmaceuticals and gave the company a buy rating in a research note on Tuesday, July 25th. BidaskClub cut Pacira Pharmaceuticals from a hold rating to a sell rating in a research note on Thursday, July 27th. BMO Capital Markets raised their price objective on Pacira Pharmaceuticals from $38.00 to $39.00 and gave the company a market perform rating in a research note on Wednesday, November 8th. Finally, Jefferies Group LLC dropped their price objective on Pacira Pharmaceuticals to $52.00 and set a buy rating on the stock in a research note on Thursday, November 9th. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have given a buy rating to the company’s stock. The stock currently has an average rating of Hold and an average target price of $49.21.
Pacira Pharmaceuticals (NASDAQ:PCRX) opened at $44.50 on Monday. Pacira Pharmaceuticals has a twelve month low of $29.81 and a twelve month high of $58.95. The company has a debt-to-equity ratio of 1.03, a quick ratio of 6.24 and a current ratio of 6.99.
Pacira Pharmaceuticals (NASDAQ:PCRX) last issued its earnings results on Wednesday, November 8th. The company reported $0.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.15. Pacira Pharmaceuticals had a negative return on equity of 13.77% and a negative net margin of 18.25%. The company had revenue of $67.30 million for the quarter, compared to analysts’ expectations of $68.99 million. During the same period last year, the business earned $0.20 EPS. Pacira Pharmaceuticals’s quarterly revenue was down 1.6% compared to the same quarter last year. equities research analysts anticipate that Pacira Pharmaceuticals will post -0.87 EPS for the current year.
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In other Pacira Pharmaceuticals news, Director Mark A. Kronenfeld bought 1,000 shares of the firm’s stock in a transaction dated Friday, November 10th. The stock was purchased at an average cost of $41.60 per share, with a total value of $41,600.00. Following the transaction, the director now directly owns 6,795 shares in the company, valued at approximately $282,672. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO David M. Stack sold 58,885 shares of the firm’s stock in a transaction on Wednesday, November 15th. The shares were sold at an average price of $38.34, for a total value of $2,257,650.90. Following the sale, the chief executive officer now directly owns 159,164 shares of the company’s stock, valued at $6,102,347.76. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 69,735 shares of company stock valued at $2,692,594. Insiders own 6.60% of the company’s stock.
Several institutional investors have recently made changes to their positions in PCRX. Oppenheimer Asset Management Inc. purchased a new stake in shares of Pacira Pharmaceuticals during the 2nd quarter valued at $114,000. Benjamin F. Edwards & Company Inc. increased its position in shares of Pacira Pharmaceuticals by 12.2% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 2,794 shares of the company’s stock valued at $133,000 after purchasing an additional 303 shares during the last quarter. Cubist Systematic Strategies LLC increased its position in shares of Pacira Pharmaceuticals by 121.5% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 3,194 shares of the company’s stock valued at $152,000 after purchasing an additional 1,752 shares during the last quarter. QS Investors LLC purchased a new stake in shares of Pacira Pharmaceuticals during the 2nd quarter valued at $157,000. Finally, Ameritas Investment Partners Inc. increased its position in shares of Pacira Pharmaceuticals by 9.6% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 3,449 shares of the company’s stock valued at $165,000 after purchasing an additional 302 shares during the last quarter. 99.79% of the stock is owned by hedge funds and other institutional investors.
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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