Pacira Pharmaceuticals Inc (NASDAQ:PCRX) had its target price reduced by stock analysts at Mizuho from $57.00 to $54.00 in a research note issued to investors on Friday, May 5th. The firm presently has a “buy” rating on the stock. Mizuho’s price objective suggests a potential upside of 12.38% from the company’s previous close.
A number of other brokerages also recently issued reports on PCRX. Wedbush reissued an “outperform” rating and issued a $89.00 price target on shares of Pacira Pharmaceuticals in a report on Thursday, March 2nd. BMO Capital Markets reaffirmed a “hold” rating and set a $45.00 target price on shares of Pacira Pharmaceuticals in a research note on Thursday, March 2nd. HC Wainwright upped their target price on Pacira Pharmaceuticals from $48.00 to $59.00 and gave the stock a “buy” rating in a research note on Thursday, March 2nd. Janney Montgomery Scott cut Pacira Pharmaceuticals from a “neutral” rating to a “sell” rating and set a $38.00 price target for the company. in a research report on Thursday, March 2nd. Finally, Cowen and Company reiterated a “hold” rating on shares of Pacira Pharmaceuticals in a research report on Thursday, March 2nd. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and eight have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $55.42.
Pacira Pharmaceuticals (NASDAQ:PCRX) traded up 1.66% during trading on Friday, hitting $48.85. 243,579 shares of the stock traded hands. The firm has a 50-day moving average price of $47.22 and a 200 day moving average price of $40.97. The company’s market cap is $1.96 billion. Pacira Pharmaceuticals has a 52-week low of $29.95 and a 52-week high of $58.95.
Pacira Pharmaceuticals (NASDAQ:PCRX) last announced its quarterly earnings results on Thursday, May 4th. The company reported ($0.19) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.23) by $0.04. The company had revenue of $69.30 million during the quarter, compared to analyst estimates of $70.30 million. During the same period in the previous year, the firm posted $0.15 earnings per share. The company’s revenue was up 5.8% compared to the same quarter last year.
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In other news, CAO Kristen Marie Williams sold 21,041 shares of the stock in a transaction dated Monday, May 15th. The stock was sold at an average price of $50.86, for a total value of $1,070,145.26. Following the transaction, the chief accounting officer now owns 18,775 shares in the company, valued at approximately $954,896.50. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, President James S. Scibetta sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, May 15th. The stock was sold at an average price of $51.20, for a total value of $1,024,000.00. Following the transaction, the president now owns 47,084 shares in the company, valued at approximately $2,410,700.80. The disclosure for this sale can be found here.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Benjamin F. Edwards & Company Inc. increased its position in shares of Pacira Pharmaceuticals by 85.6% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 2,491 shares of the company’s stock valued at $114,000 after buying an additional 1,149 shares during the period. FNY Partners Fund LP bought a new position in shares of Pacira Pharmaceuticals during the first quarter valued at $136,000. Acrospire Investment Management LLC increased its position in shares of Pacira Pharmaceuticals by 2,000.0% in the third quarter. Acrospire Investment Management LLC now owns 4,200 shares of the company’s stock valued at $144,000 after buying an additional 4,000 shares during the period. Ameritas Investment Partners Inc. acquired a new stake in Pacira Pharmaceuticals during the first quarter valued at approximately $144,000. Finally, Amalgamated Bank acquired a new stake in Pacira Pharmaceuticals during the first quarter valued at approximately $204,000.
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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