BMO Capital Markets Increases Pacira Pharmaceuticals (NASDAQ:PCRX) Price Target to $47.00

Pacira Pharmaceuticals (NASDAQ:PCRX) had its price target boosted by stock analysts at BMO Capital Markets from $40.00 to $47.00 in a research report issued on Friday, November 2nd, The Fly reports. The brokerage currently has a “market perform” rating on the stock. BMO Capital Markets’ price target would indicate a potential downside of 5.09% from the stock’s previous close.

A number of other brokerages have also commented on PCRX. Canaccord Genuity set a $45.00 price objective on Pacira Pharmaceuticals and gave the stock a “hold” rating in a research report on Tuesday, September 4th. Wedbush reiterated an “outperform” rating and issued a $80.00 price objective (down from $85.00) on shares of Pacira Pharmaceuticals in a research report on Monday, August 6th. ValuEngine upgraded Pacira Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Thursday, October 18th. Cowen reiterated a “hold” rating on shares of Pacira Pharmaceuticals in a research report on Tuesday, July 10th. Finally, HC Wainwright lifted their price objective on Pacira Pharmaceuticals to $60.00 and gave the stock a “buy” rating in a research report on Friday, November 2nd. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and ten have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $52.28.

Shares of NASDAQ:PCRX traded down $1.43 during midday trading on Friday, reaching $49.52. The company’s stock had a trading volume of 389,378 shares, compared to its average volume of 555,397. Pacira Pharmaceuticals has a fifty-two week low of $26.95 and a fifty-two week high of $55.00. The firm has a market cap of $2.10 billion, a PE ratio of -85.38 and a beta of 1.68. The company has a debt-to-equity ratio of 0.95, a quick ratio of 7.83 and a current ratio of 8.66.

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

In other news, VP Lauren Bullaro Riker sold 1,000 shares of the business’s stock in a transaction dated Friday, November 2nd. The stock was sold at an average price of $54.35, for a total transaction of $54,350.00. Following the completion of the transaction, the vice president now directly owns 11,474 shares in the company, valued at approximately $623,611.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO David M. Stack sold 33,062 shares of the business’s stock in a transaction dated Wednesday, August 15th. The stock was sold at an average price of $47.32, for a total value of $1,564,493.84. The disclosure for this sale can be found here. Insiders have sold a total of 41,502 shares of company stock valued at $1,968,214 over the last 90 days. Corporate insiders own 5.90% of the company’s stock.

Several large investors have recently added to or reduced their stakes in PCRX. US Bancorp DE lifted its holdings in shares of Pacira Pharmaceuticals by 40.7% during the 2nd quarter. US Bancorp DE now owns 6,038 shares of the company’s stock valued at $194,000 after purchasing an additional 1,746 shares in the last quarter. Cubist Systematic Strategies LLC lifted its holdings in shares of Pacira Pharmaceuticals by 1,925.8% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 6,665 shares of the company’s stock valued at $214,000 after purchasing an additional 6,336 shares in the last quarter. Xact Kapitalforvaltning AB bought a new position in shares of Pacira Pharmaceuticals during the 2nd quarter valued at about $219,000. Bouchey Financial Group Ltd bought a new position in shares of Pacira Pharmaceuticals during the 3rd quarter valued at about $221,000. Finally, Parametrica Management Ltd bought a new position in shares of Pacira Pharmaceuticals during the 3rd quarter valued at about $259,000.

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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Analyst Recommendations for Pacira Pharmaceuticals (NASDAQ:PCRX)

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