Jefferies Financial Group Increases Pacira Pharmaceuticals (PCRX) Price Target to $60.00

Pacira Pharmaceuticals (NASDAQ:PCRX) had its price objective increased by stock analysts at Jefferies Financial Group to $60.00 in a report released on Friday, November 2nd, The Fly reports. The brokerage currently has a “buy” rating on the stock. Jefferies Financial Group’s price target would indicate a potential upside of 21.16% from the company’s previous close.

Other analysts have also issued reports about the stock. HC Wainwright reaffirmed a “buy” rating and issued a $48.00 price target on shares of Pacira Pharmaceuticals in a research note on Tuesday, July 10th. Canaccord Genuity reaffirmed a “hold” rating and issued a $34.00 price target on shares of Pacira Pharmaceuticals in a research note on Monday, July 30th. Piper Jaffray Companies set a $48.00 price target on shares of Pacira Pharmaceuticals and gave the stock a “buy” rating in a research note on Thursday, August 2nd. Barclays upped their price target on shares of Pacira Pharmaceuticals from $40.00 to $50.00 and gave the stock a “buy” rating in a research note on Monday, August 6th. Finally, Royal Bank of Canada set a $55.00 target price on shares of Pacira Pharmaceuticals and gave the stock a “buy” rating in a report on Wednesday, September 19th. Three analysts have rated the stock with a sell rating, nine have given a hold rating and ten have assigned a buy rating to the company. Pacira Pharmaceuticals currently has an average rating of “Hold” and a consensus price target of $52.28.

Pacira Pharmaceuticals stock traded down $1.43 during midday trading on Friday, reaching $49.52. 389,378 shares of the stock traded hands, compared to its average volume of 555,397. The company has a quick ratio of 7.83, a current ratio of 8.66 and a debt-to-equity ratio of 0.95. The firm has a market capitalization of $2.10 billion, a price-to-earnings ratio of -85.38 and a beta of 1.68. Pacira Pharmaceuticals has a fifty-two week low of $26.95 and a fifty-two week high of $55.00.

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

In related news, Director Mark A. Kronenfeld bought 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 28th. The stock was purchased at an average cost of $44.61 per share, for a total transaction of $44,610.00. Following the purchase, the director now directly owns 8,577 shares in the company, valued at $382,619.97. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, VP Lauren Bullaro Riker sold 1,667 shares of the company’s stock in a transaction on Wednesday, August 22nd. The shares were sold at an average price of $44.48, for a total transaction of $74,148.16. Following the transaction, the vice president now owns 10,474 shares of the company’s stock, valued at $465,883.52. The disclosure for this sale can be found here. Insiders have sold 41,502 shares of company stock worth $1,968,214 in the last 90 days. 5.90% of the stock is owned by company insiders.

A number of large investors have recently added to or reduced their stakes in PCRX. State of Wisconsin Investment Board increased its position in shares of Pacira Pharmaceuticals by 3.0% during the 2nd quarter. State of Wisconsin Investment Board now owns 40,600 shares of the company’s stock worth $1,301,000 after purchasing an additional 1,200 shares in the last quarter. Rhumbline Advisers grew its holdings in Pacira Pharmaceuticals by 3.5% during the 2nd quarter. Rhumbline Advisers now owns 39,897 shares of the company’s stock worth $1,279,000 after acquiring an additional 1,335 shares during the last quarter. DekaBank Deutsche Girozentrale grew its holdings in Pacira Pharmaceuticals by 7.3% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 20,548 shares of the company’s stock worth $943,000 after acquiring an additional 1,393 shares during the last quarter. Summit Trail Advisors LLC grew its holdings in Pacira Pharmaceuticals by 12.9% during the 1st quarter. Summit Trail Advisors LLC now owns 15,103 shares of the company’s stock worth $400,000 after acquiring an additional 1,728 shares during the last quarter. Finally, US Bancorp DE grew its holdings in Pacira Pharmaceuticals by 40.7% during the 2nd quarter. US Bancorp DE now owns 6,038 shares of the company’s stock worth $194,000 after acquiring an additional 1,746 shares during 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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