Pacira Pharmaceuticals, Inc. (NASDAQ:PCRX) Director Paul J. Hastings sold 1,044 shares of the company’s stock in a transaction on Tuesday, August 22nd. The shares were sold at an average price of $36.15, for a total value of $37,740.60. Following the completion of the transaction, the director now owns 3,518 shares of the company’s stock, valued at approximately $127,175.70. The sale was disclosed in a filing with the SEC, which is available through the SEC website.
Shares of Pacira Pharmaceuticals, Inc. (NASDAQ PCRX) traded down 3.38% during trading on Friday, reaching $35.75. The company had a trading volume of 354,490 shares. The firm’s market capitalization is $1.44 billion. Pacira Pharmaceuticals, Inc. has a 1-year low of $29.95 and a 1-year high of $58.95. The firm has a 50-day moving average of $41.49 and a 200 day moving average of $45.06.
Pacira Pharmaceuticals (NASDAQ:PCRX) last posted its quarterly earnings results on Wednesday, August 2nd. The company reported ($0.11) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.05) by $0.06. Pacira Pharmaceuticals had a negative net margin of 23.36% and a negative return on equity of 12.44%. The business had revenue of $70.90 million during the quarter, compared to analyst estimates of $73.37 million. During the same period last year, the firm posted $0.21 earnings per share. The company’s quarterly revenue was up 1.9% on a year-over-year basis. Analysts expect that Pacira Pharmaceuticals, Inc. will post ($0.16) earnings per share for the current year.
A number of hedge funds have recently modified their holdings of PCRX. Oppenheimer Asset Management Inc. bought a new stake in Pacira Pharmaceuticals during the second quarter worth approximately $114,000. Benjamin F. Edwards & Company Inc. increased its stake in Pacira Pharmaceuticals by 85.6% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 2,491 shares of the company’s stock worth $114,000 after buying an additional 1,149 shares during the period. FNY Partners Fund LP bought a new stake in Pacira Pharmaceuticals during the first quarter worth approximately $136,000. Ameritas Investment Partners Inc. bought a new stake in Pacira Pharmaceuticals during the first quarter worth approximately $144,000. Finally, Cubist Systematic Strategies LLC increased its stake in Pacira Pharmaceuticals by 121.5% in the second quarter. Cubist Systematic Strategies LLC now owns 3,194 shares of the company’s stock worth $152,000 after buying an additional 1,752 shares during the period.
A number of brokerages recently issued reports on PCRX. HC Wainwright set a $59.00 price objective on Pacira Pharmaceuticals and gave the stock a “buy” rating in a report on Saturday, May 6th. BMO Capital Markets lowered their price target on Pacira Pharmaceuticals from $42.00 to $40.00 and set a “market perform” rating on the stock in a report on Thursday, August 3rd. Wedbush reaffirmed an “outperform” rating and issued a $87.00 price target on shares of Pacira Pharmaceuticals in a report on Wednesday, June 21st. Canaccord Genuity reaffirmed a “buy” rating and issued a $56.00 price target on shares of Pacira Pharmaceuticals in a report on Monday, July 31st. Finally, ValuEngine lowered Pacira Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Friday, August 4th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $53.92.
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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