The HC Wainwright Reiterates $48.00 Price Target for Pacira Pharmaceuticals, Inc. (PCRX)

The HC Wainwright Reiterates $48.00 Price Target for Pacira Pharmaceuticals, Inc. (PCRX)

HC Wainwright set a $48.00 price objective on Pacira Pharmaceuticals, Inc. (NASDAQ:PCRX) in a research report sent to investors on Wednesday morning. The brokerage currently has a buy rating on the stock.

A number of other research firms also recently weighed in on PCRX. Mizuho restated a buy rating and issued a $41.00 target price on shares of Pacira Pharmaceuticals in a research report on Monday, January 9th. Zacks Investment Research raised Pacira Pharmaceuticals from a sell rating to a hold rating in a research note on Tuesday, January 10th. BMO Capital Markets reaffirmed a market perform rating and issued a $35.00 price target on shares of Pacira Pharmaceuticals in a research note on Tuesday, January 10th. Wedbush reaffirmed an outperform rating and issued a $89.00 price target on shares of Pacira Pharmaceuticals in a research note on Thursday, January 5th. Finally, Brean Capital assumed coverage on Pacira Pharmaceuticals in a research note on Friday, October 7th. They issued a hold rating on the stock. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and seven have given a buy rating to the company. The stock presently has an average rating of Hold and an average price target of $59.36.

Pacira Pharmaceuticals (NASDAQ:PCRX) traded down 1.21% during mid-day trading on Wednesday, reaching $36.80. 403,297 shares of the company’s stock were exchanged. The stock’s market cap is $1.38 billion. The stock has a 50-day moving average of $35.22 and a 200-day moving average of $36.62. Pacira Pharmaceuticals has a one year low of $29.95 and a one year high of $65.64.

Pacira Pharmaceuticals (NASDAQ:PCRX) last released its earnings results on Wednesday, November 2nd. The company reported $0.20 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.02) by $0.22. The company earned $68.40 million during the quarter, compared to the consensus estimate of $67.16 million. Pacira Pharmaceuticals had a negative return on equity of 1.52% and a negative net margin of 13.37%. Pacira Pharmaceuticals’s quarterly revenue was up 10.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.32 EPS. On average, equities research analysts anticipate that Pacira Pharmaceuticals will post $0.54 earnings per share for the current year.

In other Pacira Pharmaceuticals news, CEO David M. Stack sold 15,000 shares of the business’s stock in a transaction on Tuesday, January 17th. The stock was sold at an average price of $38.41, for a total value of $576,150.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, President James S. Scibetta sold 20,000 shares of the business’s stock in a transaction on Tuesday, January 17th. The stock was sold at an average price of $38.53, for a total value of $770,600.00. Following the completion of the sale, the president now directly owns 29,457 shares in the company, valued at $1,134,978.21. The disclosure for this sale can be found here. 6.90% of the stock is owned by corporate insiders.

A number of large investors have recently added to or reduced their stakes in PCRX. Skandinaviska Enskilda Banken AB publ bought a new stake in Pacira Pharmaceuticals during the third quarter valued at approximately $4,250,000. Stephens Investment Management Group LLC increased its stake in Pacira Pharmaceuticals by 6.8% in the third quarter. Stephens Investment Management Group LLC now owns 618,505 shares of the company’s stock valued at $21,165,000 after buying an additional 39,295 shares during the period. BlackRock Advisors LLC increased its stake in Pacira Pharmaceuticals by 569.6% in the third quarter. BlackRock Advisors LLC now owns 310,281 shares of the company’s stock valued at $10,617,000 after buying an additional 263,943 shares during the period. Princeton Capital Management Inc. bought a new stake in Pacira Pharmaceuticals during the third quarter valued at approximately $567,000. Finally, Public Employees Retirement Association of Colorado increased its stake in Pacira Pharmaceuticals by 1,041.9% in the second quarter. Public Employees Retirement Association of Colorado now owns 90,199 shares of the company’s stock valued at $3,042,000 after buying an additional 82,300 shares during the period.

About Pacira Pharmaceuticals

Pacira Pharmaceuticals, Inc is a specialty pharmaceutical company. The Company is focused on the development, commercialization and manufacture of pharmaceutical products, based on its DepoFoam drug delivery technology, for use in hospitals and ambulatory surgery centers. Its primary focus lies in the development of non-opioid products for postsurgical pain control.

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