Canaccord Genuity Increases Pacira Pharmaceuticals, Inc. (PCRX) Price Target to $38.00

Pacira Pharmaceuticals, Inc. (NASDAQ:PCRX) had its target price boosted by Canaccord Genuity from $33.00 to $38.00 in a research note issued to investors on Thursday. The firm currently has a hold rating on the stock.

Other research analysts have also recently issued research reports about the stock. BMO Capital Markets decreased their target price on shares of Pacira Pharmaceuticals from $42.00 to $40.00 and set a market perform rating for the company in a research report on Thursday, August 3rd. Oppenheimer Holdings, Inc. restated a hold rating on shares of Pacira Pharmaceuticals in a research report on Thursday. ValuEngine cut shares of Pacira Pharmaceuticals from a hold rating to a sell rating in a research report on Friday, August 4th. HC Wainwright set a $59.00 target price on shares of Pacira Pharmaceuticals and gave the stock a buy rating in a research report on Thursday, August 3rd. Finally, Janney Montgomery Scott upgraded shares of Pacira Pharmaceuticals from a sell rating to a neutral rating and set a $31.00 target price for the company in a research report on Monday, August 21st. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have given a buy rating to the company’s stock. The company has an average rating of Hold and an average price target of $49.71.

Pacira Pharmaceuticals (PCRX) traded up $1.90 during midday trading on Thursday, reaching $42.05. 787,300 shares of the company’s stock traded hands, compared to its average volume of 929,271. Pacira Pharmaceuticals has a 1 year low of $29.81 and a 1 year high of $58.95. 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 (NASDAQ:PCRX) last posted its earnings results on Wednesday, November 8th. The company reported $0.11 EPS for the quarter, topping the 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 analysts’ expectations of $68.99 million. During the same quarter in the prior year, the firm earned $0.20 EPS. Pacira Pharmaceuticals’s quarterly revenue was down 1.6% on a year-over-year basis. equities analysts expect that Pacira Pharmaceuticals will post -0.96 earnings per share for the current year.

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In related news, CEO David M. Stack sold 28,885 shares of the stock in a transaction that occurred on Tuesday, August 15th. The shares were sold at an average price of $36.37, for a total transaction of $1,050,547.45. Following the completion of the sale, the chief executive officer now directly owns 159,164 shares of the company’s stock, valued at $5,788,794.68. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Paul J. Hastings sold 1,044 shares of the stock in a transaction that occurred on Tuesday, August 22nd. The shares were sold at an average price of $36.15, for a total transaction of $37,740.60. Following the sale, the director now directly owns 3,518 shares of the company’s stock, valued at $127,175.70. The disclosure for this sale can be found here. Over the last three months, insiders have sold 33,390 shares of company stock valued at $1,215,480. Company insiders own 6.60% of the company’s stock.

Large investors have recently modified their holdings of the stock. Northern Trust Corp lifted its position in shares of Pacira Pharmaceuticals by 9.1% in the 2nd quarter. Northern Trust Corp now owns 505,529 shares of the company’s stock valued at $24,114,000 after acquiring an additional 42,289 shares in the last quarter. State Street Corp lifted its position in shares of Pacira Pharmaceuticals by 1.0% in the 2nd quarter. State Street Corp now owns 1,118,083 shares of the company’s stock valued at $53,340,000 after acquiring an additional 10,727 shares in the last quarter. Baillie Gifford & Co. lifted its position in shares of Pacira Pharmaceuticals by 40.9% in the 2nd quarter. Baillie Gifford & Co. now owns 301,000 shares of the company’s stock valued at $14,358,000 after acquiring an additional 87,400 shares in the last quarter. TIAA CREF Investment Management LLC lifted its position in shares of Pacira Pharmaceuticals by 40.4% in the 2nd quarter. TIAA CREF Investment Management LLC now owns 191,224 shares of the company’s stock valued at $9,121,000 after acquiring an additional 55,057 shares in the last quarter. Finally, Stephens Investment Management Group LLC lifted its position in shares of Pacira Pharmaceuticals by 5.1% in the 2nd quarter. Stephens Investment Management Group LLC now owns 942,969 shares of the company’s stock valued at $44,980,000 after acquiring an additional 45,514 shares in the last quarter. Institutional investors and hedge funds own 99.64% of the company’s stock.

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.

Analyst Recommendations for Pacira Pharmaceuticals (NASDAQ:PCRX)

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