Royal Bank of Canada Analysts Give Pacira Pharmaceuticals (NASDAQ:PCRX) a $54.00 Price Target
Pacira Pharmaceuticals (NASDAQ:PCRX) received a $54.00 price target from research analysts at Royal Bank of Canada in a research report issued on Thursday, January 4th. The brokerage currently has a “buy” rating on the stock. Royal Bank of Canada’s price objective points to a potential upside of 44.97% from the company’s current price.
A number of other equities research analysts have also commented on the company. CIBC assumed coverage on Pacira Pharmaceuticals in a research report on Thursday, September 7th. They issued a “market perform” rating for the company. UBS Group assumed coverage on Pacira Pharmaceuticals in a research report on Wednesday, September 6th. They set a “market perform” rating for the company. Zacks Investment Research lowered Pacira Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Monday, October 9th. Bank of America decreased their target price on Pacira Pharmaceuticals from $46.00 to $45.00 and set a “buy” rating for the company in a research report on Wednesday, October 4th. Finally, Janney Montgomery Scott downgraded Pacira Pharmaceuticals from a “neutral” rating to a “sell” rating and set a $27.00 price target for the company. in a research note on Thursday, October 26th. Three analysts have rated the stock with a sell rating, ten have given a hold rating and ten have issued a buy rating to the company. Pacira Pharmaceuticals presently has a consensus rating of “Hold” and an average price target of $49.06.
Shares of Pacira Pharmaceuticals (PCRX) traded down $0.80 during trading hours on Thursday, hitting $37.25. The stock had a trading volume of 98,449 shares, compared to its average volume of 804,997. The company has a current ratio of 6.99, a quick ratio of 6.24 and a debt-to-equity ratio of 1.03. Pacira Pharmaceuticals has a one year low of $29.81 and a one year high of $58.95.
In related news, CEO David M. Stack sold 58,885 shares of the firm’s stock in a transaction dated Wednesday, November 15th. The stock was sold at an average price of $38.34, for a total transaction of $2,257,650.90. Following the transaction, the chief executive officer now directly owns 159,164 shares of the company’s stock, valued at approximately $6,102,347.76. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Mark A. Kronenfeld acquired 1,000 shares of the firm’s stock in a transaction that occurred on Friday, November 10th. The shares were purchased at an average cost of $41.60 per share, for a total transaction of $41,600.00. Following the completion of the acquisition, the director now owns 6,795 shares in the company, valued at approximately $282,672. The disclosure for this purchase can be found here. In the last quarter, insiders have sold 98,960 shares of company stock valued at $3,868,341. Corporate insiders own 6.60% of the company’s stock.
A number of institutional investors have recently made changes to their positions in PCRX. HealthCor Management L.P. increased its stake in Pacira Pharmaceuticals by 63.1% in the 2nd quarter. HealthCor Management L.P. now owns 1,793,799 shares of the company’s stock worth $85,564,000 after purchasing an additional 693,799 shares during the period. Eaton Vance Management purchased a new position in Pacira Pharmaceuticals in the 2nd quarter worth approximately $19,519,000. Mesirow Financial Investment Management Equity Management purchased a new position in Pacira Pharmaceuticals in the 3rd quarter worth approximately $14,671,000. Stonepine Capital Management LLC purchased a new position in Pacira Pharmaceuticals in the 3rd quarter worth approximately $14,089,000. Finally, Epoch Investment Partners Inc. increased its stake in Pacira Pharmaceuticals by 195.7% in the 3rd quarter. Epoch Investment Partners Inc. now owns 535,999 shares of the company’s stock worth $20,127,000 after purchasing an additional 354,728 shares during the period.
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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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