The Pacira Pharmaceuticals Inc. (PCRX) Stock Rating Reaffirmed by Cowen and Company

The Pacira Pharmaceuticals Inc. (PCRX) Stock Rating Reaffirmed by Cowen and Company

Pacira Pharmaceuticals Inc. (NASDAQ:PCRX)‘s stock had its “hold” rating reaffirmed by stock analysts at Cowen and Company in a research note issued on Friday.

The analysts wrote, “Pacira Pharmaceuticals Receives a Hold from Cowen & Co. | Analyst Ratings

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Home » Pacira Pharmaceuticals Receives a Hold from Cowen & Co.”

Several other equities research analysts also recently commented on the company. Wedbush reiterated an “outperform” rating and issued a $109.00 price objective on shares of Pacira Pharmaceuticals in a report on Wednesday, September 21st. BMO Capital Markets initiated coverage on Pacira Pharmaceuticals in a report on Tuesday, June 28th. They issued an “underperform” rating and a $36.00 price objective for the company. Jefferies Group reiterated a “buy” rating and issued a $60.00 price objective (down from $74.00) on shares of Pacira Pharmaceuticals in a report on Monday, September 26th. Brean Capital downgraded Pacira Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Friday, July 1st. Finally, Zacks Investment Research downgraded Pacira Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Friday, July 29th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and seven have issued a buy rating to the stock. Pacira Pharmaceuticals presently has a consensus rating of “Hold” and an average target price of $72.83.

Pacira Pharmaceuticals (NASDAQ:PCRX) traded down 1.05% during mid-day trading on Friday, hitting $32.90. 253,906 shares of the stock traded hands. The firm’s market cap is $1.23 billion. Pacira Pharmaceuticals has a 52-week low of $31.08 and a 52-week high of $80.25. The firm’s 50-day moving average is $37.91 and its 200 day moving average is $43.74.

Pacira Pharmaceuticals (NASDAQ:PCRX) last released its quarterly earnings data on Thursday, August 4th. The company reported $0.19 EPS for the quarter, topping the consensus estimate of $0.03 by $0.16. Pacira Pharmaceuticals had a positive return on equity of 0.02% and a negative net margin of 4.21%. The company earned $69.60 million during the quarter, compared to the consensus estimate of $67.80 million. During the same period last year, the company earned $0.20 EPS. Pacira Pharmaceuticals’s revenue for the quarter was up 17.8% on a year-over-year basis. Equities analysts predict that Pacira Pharmaceuticals will post $0.44 EPS for the current fiscal year.

In related news, CEO David M. Stack sold 15,000 shares of the business’s stock in a transaction that occurred on Monday, August 15th. The stock was sold at an average price of $45.32, for a total value of $679,800.00. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, President James S. Scibetta sold 25,000 shares of the business’s stock in a transaction that occurred on Monday, August 15th. The stock was sold at an average price of $45.21, for a total value of $1,130,250.00. The disclosure for this sale can be found here. 6.90% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. BNP Paribas Arbitrage SA boosted its position in Pacira Pharmaceuticals by 111.3% in the third quarter. BNP Paribas Arbitrage SA now owns 3,051 shares of the company’s stock worth $104,000 after buying an additional 1,607 shares in the last quarter. BlackRock Inc. boosted its position in Pacira Pharmaceuticals by 122.7% in the first quarter. BlackRock Inc. now owns 2,497 shares of the company’s stock worth $133,000 after buying an additional 1,376 shares in the last quarter. US Bancorp DE boosted its position in Pacira Pharmaceuticals by 8.5% in the second quarter. US Bancorp DE now owns 5,010 shares of the company’s stock worth $169,000 after buying an additional 394 shares in the last quarter. Teacher Retirement System of Texas boosted its position in Pacira Pharmaceuticals by 13.6% in the second quarter. Teacher Retirement System of Texas now owns 5,184 shares of the company’s stock worth $175,000 after buying an additional 622 shares in the last quarter. Finally, Westpac Banking Corp boosted its position in Pacira Pharmaceuticals by 46.7% in the second quarter. Westpac Banking Corp now owns 5,877 shares of the company’s stock worth $198,000 after buying an additional 1,870 shares in the last quarter.

Pacira Pharmaceuticals Company Profile

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