Jefferies Group Weighs in on Pacira Pharmaceuticals, Inc.’s Q3 2017 Earnings (PCRX)

Pacira Pharmaceuticals, Inc. (NASDAQ:PCRX) – Stock analysts at Jefferies Group upped their Q3 2017 earnings estimates for Pacira Pharmaceuticals in a research note issued on Wednesday. Jefferies Group analyst D. Steinberg now expects that the company will post earnings per share of ($0.10) for the quarter, up from their prior forecast of ($0.11). Jefferies Group currently has a “Buy” rating and a $59.00 target price on the stock. Jefferies Group also issued estimates for Pacira Pharmaceuticals’ Q4 2017 earnings at $0.08 EPS and FY2017 earnings at ($0.65) EPS.

Pacira Pharmaceuticals (NASDAQ:PCRX) last released its earnings results on Wednesday, August 2nd. The company reported ($0.11) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.05) by ($0.06). The business 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 firm’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same period in the prior year, the company earned $0.21 earnings per share.

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Other analysts also recently issued reports about the company. Canaccord Genuity restated a “buy” rating and issued a $56.00 price objective on shares of Pacira Pharmaceuticals in a report on Monday, July 31st. Royal Bank Of Canada set a $58.00 price objective on Pacira Pharmaceuticals and gave the company a “buy” rating in a report on Sunday, July 30th. HC Wainwright set a $59.00 price objective on Pacira Pharmaceuticals and gave the company a “buy” rating in a report on Thursday, August 3rd. Mizuho restated a “buy” rating and issued a $54.00 price objective on shares of Pacira Pharmaceuticals in a report on Wednesday, July 26th. Finally, Needham & Company LLC initiated coverage on Pacira Pharmaceuticals in a report on Tuesday, August 22nd. They issued a “buy” rating and a $55.00 price objective for the company. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and ten have issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $51.21.

Shares of Pacira Pharmaceuticals (NASDAQ PCRX) opened at 33.20 on Monday. The stock has a 50 day moving average of $35.79 and a 200-day moving average of $41.94. Pacira Pharmaceuticals has a 52-week low of $29.81 and a 52-week high of $58.95. The stock’s market capitalization is $1.34 billion.

In other news, CEO David M. Stack sold 28,885 shares of the business’s stock in a transaction dated Tuesday, August 15th. The stock was sold at an average price of $36.37, for a total transaction of $1,050,547.45. Following the sale, the chief executive officer now owns 159,164 shares in the company, valued at $5,788,794.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Kristen Marie Williams sold 3,461 shares of the business’s stock in a transaction dated Tuesday, August 15th. The stock was sold at an average price of $36.75, for a total value of $127,191.75. Following the sale, the chief accounting officer now owns 21,312 shares in the company, valued at approximately $783,216. The disclosure for this sale can be found here. Insiders have sold 33,390 shares of company stock worth $1,215,480 in the last 90 days. Insiders own 6.60% of the company’s stock.

Several hedge funds have recently modified their holdings of the company. BlackRock Inc. grew its stake in shares of Pacira Pharmaceuticals by 9.2% during the second quarter. BlackRock Inc. now owns 3,478,281 shares of the company’s stock worth $165,914,000 after acquiring an additional 294,494 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Pacira Pharmaceuticals by 7.4% during the second quarter. Vanguard Group Inc. now owns 3,072,074 shares of the company’s stock worth $146,538,000 after acquiring an additional 211,982 shares during the last quarter. HealthCor Management L.P. grew its stake in shares of Pacira Pharmaceuticals by 63.1% during the second quarter. HealthCor Management L.P. now owns 1,793,799 shares of the company’s stock worth $85,564,000 after acquiring an additional 693,799 shares during the last quarter. State Street Corp grew its stake in shares of Pacira Pharmaceuticals by 1.0% during the second quarter. State Street Corp now owns 1,118,083 shares of the company’s stock worth $53,340,000 after acquiring an additional 10,727 shares during the last quarter. Finally, Macquarie Group Ltd. grew its stake in shares of Pacira Pharmaceuticals by 1.6% during the second quarter. Macquarie Group Ltd. now owns 1,091,530 shares of the company’s stock worth $52,066,000 after acquiring an additional 16,760 shares during 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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