Pacira Pharmaceuticals (PCRX) Given a $90.00 Price Target at Wedbush

Wedbush set a $90.00 price objective on Pacira Pharmaceuticals (NASDAQ:PCRX) in a research note released on Monday morning, The Fly reports. The brokerage currently has a buy rating on the stock.

Several other equities analysts also recently weighed in on the stock. Royal Bank of Canada set a $55.00 price target on shares of Pacira Pharmaceuticals and gave the company a buy rating in a report on Wednesday, September 19th. Canaccord Genuity set a $49.00 price target on shares of Pacira Pharmaceuticals and gave the company a hold rating in a report on Tuesday, October 2nd. Stifel Nicolaus initiated coverage on shares of Pacira Pharmaceuticals in a report on Thursday, September 13th. They set a sell rating and a $41.00 price target on the stock. Cowen reiterated a hold rating on shares of Pacira Pharmaceuticals in a research report on Tuesday, July 10th. Finally, ValuEngine cut shares of Pacira Pharmaceuticals from a buy rating to a hold rating in a research report on Tuesday, September 11th. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating and ten have given a buy rating to the stock. The stock has an average rating of Hold and an average target price of $52.28.

NASDAQ:PCRX traded down $0.57 during trading hours on Monday, hitting $50.38. 6,973 shares of the stock traded hands, compared to its average volume of 567,587. The company has a debt-to-equity ratio of 0.95, a current ratio of 8.66 and a quick ratio of 7.83. Pacira Pharmaceuticals has a 1 year low of $26.95 and a 1 year high of $55.00. The company has a market capitalization of $2.04 billion, a P/E ratio of -86.86 and a beta of 1.68.

Pacira Pharmaceuticals (NASDAQ:PCRX) last issued its quarterly earnings results on Thursday, November 1st. The company reported $0.31 earnings per share for the quarter, beating the consensus estimate of ($0.09) by $0.40. Pacira Pharmaceuticals had a negative net margin of 1.30% and a positive return on equity of 2.74%. The business had revenue of $83.45 million for the quarter, compared to the consensus estimate of $79.87 million. During the same quarter in the previous year, the firm earned $0.11 earnings per share. The company’s revenue for the quarter was up 23.9% on a year-over-year basis. On average, sell-side analysts anticipate that Pacira Pharmaceuticals will post -0.02 earnings per share for the current fiscal year.

In related news, CAO Kristen Marie Williams sold 4,773 shares of the business’s stock in a transaction on Tuesday, August 14th. The shares were sold at an average price of $47.04, for a total value of $224,521.92. Following the sale, the chief accounting officer now owns 22,374 shares in the company, valued at $1,052,472.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO David M. Stack sold 33,062 shares of the business’s stock in a transaction on Wednesday, August 15th. The stock was sold at an average price of $47.32, for a total transaction of $1,564,493.84. The disclosure for this sale can be found here. Insiders sold 41,502 shares of company stock worth $1,968,214 in the last 90 days. 5.90% of the stock is currently owned by company insiders.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Partner Fund Management L.P. increased its position in Pacira Pharmaceuticals by 82.5% during the second quarter. Partner Fund Management L.P. now owns 3,110,213 shares of the company’s stock valued at $99,682,000 after acquiring an additional 1,405,605 shares during the last quarter. Macquarie Group Ltd. increased its position in Pacira Pharmaceuticals by 49.4% during the second quarter. Macquarie Group Ltd. now owns 2,321,125 shares of the company’s stock valued at $74,392,000 after acquiring an additional 768,011 shares during the last quarter. Millennium Management LLC increased its position in Pacira Pharmaceuticals by 18.5% during the second quarter. Millennium Management LLC now owns 1,052,503 shares of the company’s stock valued at $33,733,000 after acquiring an additional 164,112 shares during the last quarter. Stephens Investment Management Group LLC boosted its stake in shares of Pacira Pharmaceuticals by 13.9% during the second quarter. Stephens Investment Management Group LLC now owns 1,198,271 shares of the company’s stock valued at $37,206,000 after purchasing an additional 146,319 shares during the period. Finally, Chicago Equity Partners LLC purchased a new stake in shares of Pacira Pharmaceuticals during the third quarter valued at $4,602,000.

Pacira Pharmaceuticals Company Profile

Pacira Pharmaceuticals, Inc, a specialty pharmaceutical company, develops, manufactures, and commercializes proprietary pharmaceutical products primarily for use in hospitals and ambulatory surgery centers in the United States. It develops pharmaceutical products based on its proprietary DepoFoam drug delivery technology.

Further Reading: Why do company’s buyback their stock?

The Fly

Analyst Recommendations for Pacira Pharmaceuticals (NASDAQ:PCRX)

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