Pacira Pharmaceuticals (PCRX) Stock Rating Reaffirmed by Wedbush

Pacira Pharmaceuticals (NASDAQ:PCRX)‘s stock had its “buy” rating reissued by equities researchers at Wedbush in a research note issued on Wednesday. They currently have a $80.00 price target on the stock. Wedbush’s price target would suggest a potential upside of 83.70% from the stock’s previous close.

PCRX has been the subject of several other research reports. Needham & Company LLC assumed coverage on Pacira Pharmaceuticals in a research report on Tuesday, August 22nd. They issued a “buy” rating and a $55.00 target price for the company. Mizuho reiterated a “buy” rating and issued a $53.00 target price (down previously from $54.00) on shares of Pacira Pharmaceuticals in a research report on Tuesday, August 22nd. Canaccord Genuity decreased their target price on Pacira Pharmaceuticals from $56.00 to $48.00 and set a “buy” rating for the company in a research report on Tuesday, August 29th. Royal Bank of Canada reiterated an “outperform” rating and issued a $54.00 target price on shares of Pacira Pharmaceuticals in a research report on Tuesday, September 5th. Finally, UBS assumed coverage on Pacira Pharmaceuticals in a research report on Wednesday, September 6th. They issued a “market perform” rating for the company. Two analysts have rated the stock with a sell rating, twelve have given a hold rating and eight have assigned a buy rating to the company. Pacira Pharmaceuticals currently has a consensus rating of “Hold” and a consensus target price of $48.73.

Shares of Pacira Pharmaceuticals (PCRX) opened at $43.55 on Wednesday. The company has a quick ratio of 6.24, a current ratio of 6.99 and a debt-to-equity ratio of 1.03. Pacira Pharmaceuticals has a twelve month low of $29.81 and a twelve month high of $58.95.

Pacira Pharmaceuticals (NASDAQ:PCRX) last posted its quarterly earnings data on Wednesday, November 8th. The company reported $0.11 earnings per share (EPS) for the quarter, topping the consensus estimate 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 the consensus estimate of $68.99 million. During the same period in the previous year, the business earned $0.20 EPS. Pacira Pharmaceuticals’s revenue for the quarter was down 1.6% compared to the same quarter last year. sell-side analysts predict that Pacira Pharmaceuticals will post -0.85 earnings per share for the current year.

In related news, CAO Kristen Marie Williams sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, November 17th. The stock was sold at an average price of $40.00, for a total transaction of $400,000.00. Following the completion of the transaction, the chief accounting officer now owns 23,455 shares in the company, valued at approximately $938,200. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP James B. Jones sold 850 shares of the business’s stock in a transaction on Monday, November 20th. The stock was sold at an average price of $41.11, for a total value of $34,943.50. The disclosure for this sale can be found here. Insiders have sold a total of 70,075 shares of company stock valued at $2,707,452 in the last 90 days. Insiders own 6.60% of the company’s stock.

A number of hedge funds have recently made changes to their positions in the business. Principal Financial Group Inc. boosted its position in Pacira Pharmaceuticals by 5.2% during the 2nd quarter. Principal Financial Group Inc. now owns 5,466 shares of the company’s stock worth $261,000 after acquiring an additional 270 shares during the period. Ameritas Investment Partners Inc. boosted its position in Pacira Pharmaceuticals by 9.6% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 3,449 shares of the company’s stock worth $165,000 after acquiring an additional 302 shares during the period. Amalgamated Bank boosted its position in Pacira Pharmaceuticals by 12.7% during the 2nd quarter. Amalgamated Bank now owns 5,030 shares of the company’s stock worth $240,000 after acquiring an additional 566 shares during the period. Legal & General Group Plc boosted its position in Pacira Pharmaceuticals by 5.3% during the 2nd quarter. Legal & General Group Plc now owns 12,985 shares of the company’s stock worth $620,000 after acquiring an additional 653 shares during the period. Finally, California Public Employees Retirement System boosted its position in Pacira Pharmaceuticals by 2.2% during the 2nd quarter. California Public Employees Retirement System now owns 64,700 shares of the company’s stock worth $3,086,000 after acquiring an additional 1,400 shares during the period.

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Pacira Pharmaceuticals Company Profile

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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