Pacira Pharmaceuticals (NASDAQ:PCRX) Stock Rating Lowered by Bank of America

Pacira Pharmaceuticals (NASDAQ:PCRX) was downgraded by stock analysts at Bank of America from a “buy” rating to a “neutral” rating in a research report issued to clients and investors on Monday, August 6th, MarketBeat reports. The analysts noted that the move was a valuation call.

Several other brokerages have also recently weighed in on PCRX. ValuEngine raised shares of Pacira Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Friday, August 3rd. Royal Bank of Canada set a $50.00 target price on shares of Pacira Pharmaceuticals and gave the company a “buy” rating in a research report on Thursday, August 2nd. Piper Jaffray Companies set a $48.00 target price on shares of Pacira Pharmaceuticals and gave the company a “buy” rating in a research report on Thursday, August 2nd. BMO Capital Markets upped their target price on shares of Pacira Pharmaceuticals to $40.00 and gave the company a “neutral” rating in a research report on Thursday, August 2nd. They noted that the move was a valuation call. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $52.00 target price on shares of Pacira Pharmaceuticals in a research report on Friday, August 3rd. They noted that the move was a valuation call. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and ten have issued a buy rating to the company’s stock. Pacira Pharmaceuticals presently has a consensus rating of “Hold” and a consensus target price of $47.17.

Shares of Pacira Pharmaceuticals stock traded up $1.25 during trading hours on Monday, reaching $47.15. 619,800 shares of the company’s stock were exchanged, compared to its average volume of 879,760. Pacira Pharmaceuticals has a 1 year low of $26.95 and a 1 year high of $48.40. The firm has a market capitalization of $1.86 billion, a price-to-earnings ratio of -81.29 and a beta of 1.83. The company has a quick ratio of 7.79, a current ratio of 8.58 and a debt-to-equity ratio of 0.98.

Pacira Pharmaceuticals (NASDAQ:PCRX) last released its earnings results on Thursday, August 2nd. The company reported $0.24 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.13) by $0.37. The business had revenue of $84.10 million during the quarter, compared to analyst estimates of $77.53 million. Pacira Pharmaceuticals had a negative net margin of 3.64% and a negative return on equity of 0.39%. The company’s revenue for the quarter was up 18.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.11) earnings per share. research analysts anticipate that Pacira Pharmaceuticals will post -0.15 EPS for the current fiscal year.

In related news, CEO David M. Stack sold 18,406 shares of the stock in a transaction on Thursday, June 7th. The stock was sold at an average price of $36.28, for a total transaction of $667,769.68. Following the completion of the sale, the chief executive officer now directly owns 91,831 shares of the company’s stock, valued at $3,331,628.68. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Paul J. Hastings sold 771 shares of the stock in a transaction on Monday, June 4th. The stock was sold at an average price of $33.90, for a total value of $26,136.90. Following the sale, the director now directly owns 2,747 shares of the company’s stock, valued at $93,123.30. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 63,595 shares of company stock valued at $2,719,397. Corporate insiders own 5.90% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in the business. Partner Fund Management L.P. lifted its holdings in Pacira Pharmaceuticals by 82.5% in 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 period. Macquarie Group Ltd. lifted its holdings in Pacira Pharmaceuticals by 49.4% in 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 period. PointState Capital LP lifted its holdings in Pacira Pharmaceuticals by 71.1% in the first quarter. PointState Capital LP now owns 2,038,153 shares of the company’s stock valued at $63,488,000 after acquiring an additional 847,146 shares during the period. venBio Select Advisor LLC increased its position in shares of Pacira Pharmaceuticals by 102.1% in the first quarter. venBio Select Advisor LLC now owns 1,715,072 shares of the company’s stock valued at $53,424,000 after buying an additional 866,500 shares in the last quarter. Finally, Schroder Investment Management Group increased its position in shares of Pacira Pharmaceuticals by 2.4% in the second quarter. Schroder Investment Management Group now owns 1,255,030 shares of the company’s stock valued at $38,969,000 after buying an additional 29,223 shares in the last quarter.

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.

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