Baillie Gifford & Co. boosted its stake in shares of Pacira Pharmaceuticals, Inc. (NASDAQ:PCRX) by 6.5% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 320,582 shares of the company’s stock after purchasing an additional 19,582 shares during the period. Baillie Gifford & Co. owned 0.79% of Pacira Pharmaceuticals worth $12,038,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Oppenheimer Asset Management Inc. acquired a new position in Pacira Pharmaceuticals during the second quarter valued at approximately $114,000. Benjamin F. Edwards & Company Inc. boosted its position in Pacira Pharmaceuticals by 12.2% during the second 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 boosted its position in Pacira Pharmaceuticals by 121.5% during the second 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 acquired a new position in Pacira Pharmaceuticals during the second quarter valued at approximately $157,000. Finally, Ameritas Investment Partners Inc. boosted its position in Pacira Pharmaceuticals by 9.6% during the second 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.
PCRX has been the subject of several recent research reports. Canaccord Genuity reissued a “buy” rating and set a $56.00 price target on shares of Pacira Pharmaceuticals in a research report on Monday, July 31st. Royal Bank Of Canada set a $58.00 price target on Pacira Pharmaceuticals and gave the company a “buy” rating in a research report on Sunday, July 30th. Mizuho reissued a “buy” rating and set a $54.00 price target on shares of Pacira Pharmaceuticals in a research report on Wednesday, July 26th. HC Wainwright set a $59.00 price target on Pacira Pharmaceuticals and gave the company a “buy” rating in a research report on Thursday, August 3rd. Finally, Needham & Company LLC initiated coverage on Pacira Pharmaceuticals in a research report on Tuesday, August 22nd. They set a “buy” rating and a $55.00 price target for the company. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have issued a buy rating to the stock. Pacira Pharmaceuticals currently has a consensus rating of “Hold” and an average target price of $50.43.
In related news, Director Paul J. Hastings sold 1,044 shares of the company’s 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 transaction, the director now owns 3,518 shares in the company, valued at $127,175.70. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO David M. Stack sold 28,885 shares of the company’s stock in a transaction that occurred on Tuesday, August 15th. The shares were sold at an average price of $36.37, for a total value of $1,050,547.45. Following the completion of the transaction, the chief executive officer now owns 159,164 shares in the company, valued at approximately $5,788,794.68. The disclosure for this sale can be found here. In the last quarter, insiders sold 33,390 shares of company stock worth $1,215,480. 6.60% of the stock is owned by company insiders.
Pacira Pharmaceuticals (NASDAQ:PCRX) last posted 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 firm had revenue of $70.90 million during the quarter, compared to analysts’ expectations of $73.37 million. During the same quarter in the previous year, the company posted $0.21 EPS. Pacira Pharmaceuticals’s revenue for the quarter was up 1.9% on a year-over-year basis.
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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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