Pacira Pharmaceuticals (PCRX) Shares Down 5.8%

Shares of Pacira Pharmaceuticals Inc (NASDAQ:PCRX) dropped 5.8% during trading on Thursday . The stock traded as low as $35.40 and last traded at $35.80. Approximately 1,588,937 shares traded hands during trading, an increase of 69% from the average daily volume of 942,064 shares. The stock had previously closed at $38.00.

PCRX has been the subject of several analyst reports. Wedbush reissued an “outperform” rating and set a $87.00 price target on shares of Pacira Pharmaceuticals in a research report on Wednesday, October 25th. JPMorgan Chase & Co. reissued a “hold” rating on shares of Pacira Pharmaceuticals in a research report on Thursday, January 4th. BidaskClub lowered shares of Pacira Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Saturday, January 6th. Canaccord Genuity increased their price target on shares of Pacira Pharmaceuticals from $33.00 to $38.00 and gave the company a “hold” rating in a research report on Thursday, November 9th. Finally, Zacks Investment Research lowered shares of Pacira Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Tuesday, January 9th. Three investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and nine have assigned a buy rating to the company’s stock. Pacira Pharmaceuticals presently has an average rating of “Hold” and a consensus target price of $48.82.

The firm has a market cap of $1,450.00, a PE ratio of -27.33 and a beta of 1.88. 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 announced its quarterly earnings data on Wednesday, November 8th. The company reported $0.11 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.04) by $0.15. Pacira Pharmaceuticals had a negative net margin of 18.25% and a negative return on equity of 13.77%. The firm had revenue of $67.30 million during the quarter, compared to analyst estimates of $68.99 million. During the same period last year, the firm posted $0.20 EPS. Pacira Pharmaceuticals’s revenue was down 1.6% on a year-over-year basis. research analysts predict that Pacira Pharmaceuticals Inc will post -0.86 EPS for the current fiscal year.

In other Pacira Pharmaceuticals news, CEO David M. Stack sold 28,885 shares of the firm’s stock in a transaction that occurred on Wednesday, January 10th. The shares were sold at an average price of $40.19, for a total transaction of $1,160,888.15. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP James B. Jones sold 850 shares of the firm’s stock in a transaction that occurred on Monday, November 20th. The stock was sold at an average price of $41.11, for a total transaction of $34,943.50. The disclosure for this sale can be found here. Insiders have sold a total of 98,960 shares of company stock valued at $3,868,341 over the last three months. 6.60% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of PCRX. Principal Financial Group Inc. raised 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 buying an additional 270 shares during the last quarter. Nationwide Fund Advisors raised its position in Pacira Pharmaceuticals by 18.9% during the 2nd quarter. Nationwide Fund Advisors now owns 66,800 shares of the company’s stock worth $3,186,000 after buying an additional 10,610 shares during the last quarter. BlackRock Inc. raised its position in Pacira Pharmaceuticals by 9.2% during the 2nd quarter. BlackRock Inc. now owns 3,478,281 shares of the company’s stock worth $165,914,000 after buying an additional 294,494 shares during the last quarter. Amalgamated Bank raised 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 buying an additional 566 shares during the last quarter. Finally, New York State Common Retirement Fund raised its position in Pacira Pharmaceuticals by 194.3% during the 2nd quarter. New York State Common Retirement Fund now owns 170,039 shares of the company’s stock worth $8,111,000 after buying an additional 112,263 shares during the last quarter.

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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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