Pacira Pharmaceuticals, Inc. (NASDAQ:PCRX) CEO David M. Stack sold 28,885 shares of the company’s stock in a transaction dated Tuesday, August 15th. The shares were sold at an average price of $36.37, for a total transaction of $1,050,547.45. Following the completion of the transaction, the chief executive officer now owns 159,164 shares in the company, valued at $5,788,794.68. The transaction was disclosed in a filing with the SEC, which is available at this link.
Pacira Pharmaceuticals, Inc. (PCRX) opened at 35.80 on Friday. Pacira Pharmaceuticals, Inc. has a 12-month low of $29.95 and a 12-month high of $58.95. The company has a 50-day moving average of $43.09 and a 200 day moving average of $45.24. The stock’s market cap is $1.44 billion.
Pacira Pharmaceuticals (NASDAQ:PCRX) last issued 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. The business had revenue of $70.90 million during the quarter, compared to the consensus estimate of $73.37 million. Pacira Pharmaceuticals had a negative return on equity of 12.44% and a negative net margin of 23.36%. The business’s quarterly revenue was up 1.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.21 earnings per share. Equities analysts anticipate that Pacira Pharmaceuticals, Inc. will post ($0.12) earnings per share for the current year.
A number of research analysts have issued reports on the stock. Zacks Investment Research upgraded shares of Pacira Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Friday, August 11th. ValuEngine lowered shares of Pacira Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Friday, August 4th. BMO Capital Markets cut their price objective on shares of Pacira Pharmaceuticals from $42.00 to $40.00 and set a “market perform” rating on the stock in a report on Thursday, August 3rd. HC Wainwright set a $59.00 price objective on shares of Pacira Pharmaceuticals and gave the stock a “buy” rating in a report on Thursday, August 3rd. Finally, BidaskClub lowered shares of Pacira Pharmaceuticals from a “sell” rating to a “strong sell” rating in a report on Wednesday, August 2nd. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and eight have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $54.50.
Hedge funds and other institutional investors have recently modified their holdings of the company. Benjamin F. Edwards & Company Inc. increased its position in shares of Pacira Pharmaceuticals by 85.6% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 2,491 shares of the company’s stock valued at $114,000 after buying an additional 1,149 shares in the last quarter. Oppenheimer Asset Management Inc. acquired a new position in shares of Pacira Pharmaceuticals during the second quarter valued at approximately $114,000. FNY Partners Fund LP acquired a new position in shares of Pacira Pharmaceuticals during the first quarter valued at approximately $136,000. Ameritas Investment Partners Inc. acquired a new position in shares of Pacira Pharmaceuticals during the first quarter valued at approximately $144,000. Finally, Cubist Systematic Strategies LLC increased its position in shares of Pacira Pharmaceuticals by 121.5% in the second quarter. Cubist Systematic Strategies LLC now owns 3,194 shares of the company’s stock valued at $152,000 after buying an additional 1,752 shares in the last quarter.
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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