Pacira Pharmaceuticals Inc (PCRX) Director Gary W. Pace Acquires 4,000 Shares

Pacira Pharmaceuticals Inc (NASDAQ:PCRX) Director Gary W. Pace acquired 4,000 shares of Pacira Pharmaceuticals stock in a transaction dated Wednesday, November 7th. The shares were bought at an average price of $51.29 per share, with a total value of $205,160.00. Following the transaction, the director now directly owns 28,319 shares in the company, valued at approximately $1,452,481.51. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

PCRX stock traded down $1.43 on Friday, hitting $49.52. The company’s stock had a trading volume of 389,378 shares, compared to its average volume of 809,546. Pacira Pharmaceuticals Inc has a 1 year low of $26.95 and a 1 year high of $55.00. The company has a market cap of $2.04 billion, a price-to-earnings ratio of -85.38 and a beta of 1.68. 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 (NASDAQ:PCRX) last released its quarterly earnings results on Thursday, November 1st. The company reported $0.31 EPS 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 firm had revenue of $83.45 million during the quarter, compared to the consensus estimate of $79.87 million. During the same quarter in the prior year, the firm earned $0.11 EPS. Pacira Pharmaceuticals’s revenue for the quarter was up 23.9% on a year-over-year basis. As a group, analysts anticipate that Pacira Pharmaceuticals Inc will post -0.02 earnings per share for the current year.

Several analysts have recently weighed in on the stock. Barclays boosted their price objective on shares of Pacira Pharmaceuticals from $40.00 to $50.00 and gave the stock a “buy” rating in a research report on Monday, August 6th. Piper Jaffray Companies set a $48.00 price objective on shares of Pacira Pharmaceuticals and gave the stock a “buy” rating in a research report on Thursday, August 2nd. Canaccord Genuity restated a “hold” rating and set a $34.00 price objective on shares of Pacira Pharmaceuticals in a research report on Monday, July 30th. Royal Bank of Canada set a $55.00 price objective on shares of Pacira Pharmaceuticals and gave the stock a “buy” rating in a research report on Wednesday, September 19th. Finally, ValuEngine upgraded shares of Pacira Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Saturday, July 28th. Three research analysts have rated the stock with a sell rating, nine have given a hold rating and ten have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $52.28.

Hedge funds have recently added to or reduced their stakes in the stock. Granahan Investment Management Inc. MA raised its position in Pacira Pharmaceuticals by 12.3% in the 2nd quarter. Granahan Investment Management Inc. MA now owns 188,086 shares of the company’s stock valued at $6,028,000 after purchasing an additional 20,617 shares during the last quarter. Mutual of America Capital Management LLC raised its position in Pacira Pharmaceuticals by 15.3% during the 2nd quarter. Mutual of America Capital Management LLC now owns 155,554 shares of the company’s stock worth $4,986,000 after buying an additional 20,606 shares during the last quarter. Russell Investments Group Ltd. raised its position in Pacira Pharmaceuticals by 14.7% during the 2nd quarter. Russell Investments Group Ltd. now owns 56,610 shares of the company’s stock worth $1,813,000 after buying an additional 7,249 shares during the last quarter. United Services Automobile Association raised its position in Pacira Pharmaceuticals by 10.9% during the 2nd quarter. United Services Automobile Association now owns 127,822 shares of the company’s stock worth $4,097,000 after buying an additional 12,600 shares during the last quarter. Finally, Mizuho Securities USA LLC raised its position in Pacira Pharmaceuticals by 193.8% during the 3rd quarter. Mizuho Securities USA LLC now owns 23,500 shares of the company’s stock worth $1,155,000 after buying an additional 15,500 shares during the last quarter.

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About Pacira Pharmaceuticals

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.

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