Pacira Pharmaceuticals, Inc. (PCRX) Receives Average Rating of “Hold” from Brokerages
Pacira Pharmaceuticals, Inc. (NASDAQ:PCRX) has received a consensus rating of “Hold” from the twenty-two research firms that are presently covering the firm, MarketBeat reports. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and eight have issued a buy rating on the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $49.21.
A number of research firms recently weighed in on PCRX. Jefferies Group reaffirmed a “buy” rating and set a $59.00 price target on shares of Pacira Pharmaceuticals in a research note on Thursday, September 7th. Zacks Investment Research raised Pacira Pharmaceuticals from a “hold” rating to a “buy” rating and set a $42.00 price objective for the company in a report on Tuesday, October 3rd. Needham & Company LLC decreased their price objective on Pacira Pharmaceuticals from $55.00 to $52.00 and set a “buy” rating for the company in a report on Thursday, October 19th. HC Wainwright reissued a “buy” rating and set a $52.00 price objective on shares of Pacira Pharmaceuticals in a report on Thursday, November 9th. Finally, Janney Montgomery Scott lowered Pacira Pharmaceuticals from a “neutral” rating to a “sell” rating and set a $27.00 price objective for the company. in a report on Thursday, October 26th.
Pacira Pharmaceuticals (NASDAQ PCRX) opened at $44.15 on Monday. Pacira Pharmaceuticals has a 52 week low of $29.81 and a 52 week 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. The firm has a market capitalization of $1,820.00, a P/E ratio of -33.70 and a beta of 2.20.
Pacira Pharmaceuticals (NASDAQ:PCRX) last posted its quarterly earnings results on Wednesday, November 8th. The company reported $0.11 earnings per share 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 business had revenue of $67.30 million for the quarter, compared to the consensus estimate of $68.99 million. During the same period in the prior year, the business earned $0.20 EPS. The firm’s revenue for the quarter was down 1.6% on a year-over-year basis. analysts anticipate that Pacira Pharmaceuticals will post -0.85 earnings per share for the current year.
In other news, CEO David M. Stack sold 58,885 shares of the company’s stock in a transaction that occurred on Wednesday, November 15th. The stock was sold at an average price of $38.34, for a total value of $2,257,650.90. Following the completion of the transaction, the chief executive officer now directly owns 159,164 shares of the company’s stock, valued at $6,102,347.76. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Mark A. Kronenfeld bought 1,000 shares of Pacira Pharmaceuticals stock in a transaction dated Friday, November 10th. The stock was acquired at an average cost of $41.60 per share, with a total value of $41,600.00. Following the completion of the acquisition, the director now owns 6,795 shares of the company’s stock, valued at $282,672. The disclosure for this purchase can be found here. Over the last ninety days, insiders sold 70,075 shares of company stock valued at $2,707,452. 6.60% of the stock is currently owned by corporate insiders.
Several hedge funds have recently added to or reduced their stakes in PCRX. Oppenheimer Asset Management Inc. purchased a new position in Pacira Pharmaceuticals in the second quarter valued at approximately $114,000. Cubist Systematic Strategies LLC lifted its position in shares of Pacira Pharmaceuticals by 121.5% during the second quarter. Cubist Systematic Strategies LLC now owns 3,194 shares of the company’s stock worth $152,000 after acquiring an additional 1,752 shares in the last quarter. QS Investors LLC purchased a new stake in shares of Pacira Pharmaceuticals during the second quarter worth $157,000. Ameritas Investment Partners Inc. lifted its position in shares of Pacira Pharmaceuticals by 9.6% during the second quarter. Ameritas Investment Partners Inc. now owns 3,449 shares of the company’s stock worth $165,000 after acquiring an additional 302 shares in the last quarter. Finally, Spectrum Management Group Inc. purchased a new stake in shares of Pacira Pharmaceuticals during the third quarter worth $166,000.
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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