New York State Common Retirement Fund increased its position in shares of Pacira Pharmaceuticals Inc (NASDAQ:PCRX) by 16.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 214,011 shares of the company’s stock after purchasing an additional 30,881 shares during the period. New York State Common Retirement Fund owned approximately 0.53% of Pacira Pharmaceuticals worth $6,666,000 at the end of the most recent quarter.
Other hedge funds have also recently added to or reduced their stakes in the company. American Century Companies Inc. boosted its position in Pacira Pharmaceuticals by 12.9% in the 4th quarter. American Century Companies Inc. now owns 57,322 shares of the company’s stock valued at $2,617,000 after buying an additional 6,528 shares during the period. Teacher Retirement System of Texas purchased a new stake in Pacira Pharmaceuticals in the 4th quarter valued at about $637,000. California Public Employees Retirement System boosted its position in Pacira Pharmaceuticals by 3.3% in the 4th quarter. California Public Employees Retirement System now owns 68,100 shares of the company’s stock valued at $3,109,000 after buying an additional 2,200 shares during the period. Swiss National Bank boosted its position in Pacira Pharmaceuticals by 4.0% in the 4th quarter. Swiss National Bank now owns 69,800 shares of the company’s stock valued at $3,186,000 after buying an additional 2,700 shares during the period. Finally, Keybank National Association OH purchased a new stake in Pacira Pharmaceuticals in the 4th quarter valued at about $384,000.
Several equities research analysts have issued reports on the stock. JPMorgan Chase & Co. boosted their price objective on shares of Pacira Pharmaceuticals from $40.00 to $43.00 and gave the company a “neutral” rating in a research report on Tuesday, April 10th. Canaccord Genuity set a $34.00 price objective on shares of Pacira Pharmaceuticals and gave the company a “hold” rating in a research report on Friday, May 11th. ValuEngine raised shares of Pacira Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Monday, April 9th. HC Wainwright reaffirmed a “buy” rating and issued a $48.00 price target (up previously from $45.00) on shares of Pacira Pharmaceuticals in a research report on Monday, April 9th. Finally, BMO Capital Markets lowered their price target on shares of Pacira Pharmaceuticals from $32.00 to $31.00 and set a “market perform” rating for the company in a research report on Thursday, March 1st. Three research analysts have rated the stock with a sell rating, twelve have given a hold rating and nine have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $45.00.
Pacira Pharmaceuticals (NASDAQ:PCRX) last posted its quarterly earnings data on Thursday, May 3rd. The company reported $0.02 EPS for the quarter, hitting the consensus estimate of $0.02. The firm had revenue of $74.61 million during the quarter, compared to analyst estimates of $73.92 million. Pacira Pharmaceuticals had a negative net margin of 11.45% and a negative return on equity of 5.81%. Pacira Pharmaceuticals’s revenue was up 7.7% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.19) EPS. research analysts forecast that Pacira Pharmaceuticals Inc will post -0.57 earnings per share for the current fiscal year.
In related news, CEO David M. Stack sold 25,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 15th. The shares were sold at an average price of $33.79, for a total transaction of $844,750.00. Following the completion of the transaction, the chief executive officer now owns 115,446 shares in the company, valued at approximately $3,900,920.34. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Lauren Bullaro Riker sold 801 shares of the business’s stock in a transaction that occurred on Monday, June 4th. The stock was sold at an average price of $33.02, for a total transaction of $26,449.02. Following the transaction, the vice president now owns 9,641 shares of the company’s stock, valued at approximately $318,345.82. The disclosure for this sale can be found here. In the last quarter, insiders have sold 49,093 shares of company stock valued at $1,700,983. 5.90% of the stock is currently owned by company insiders.
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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