According to Zacks, “Pacira’s top line is driven by strong demand for its lead product, Exparel, on the back of growth within existing accounts, along with increasing acceptance by major hospitals and orthopedic centers with growing use in orthopedic procedures. We are also encouraged by the company’s label expansion efforts for Exparel, which should boost revenues. Recently, the company launched the drug in the oral surgery indication. The label expansion of Exparel into the field of oral surgery will benefit oral and maxillofacial surgeons, prosthodontists and endodontists by giving them the ability to produce analgesia with a single-dose administration during the days following surgery. However, the company’s sole dependence on Exparel for top-line growth is a concern. Moreover, increasing competition for the drug is concerning.”
Other research analysts have also recently issued research reports about the stock. Mizuho reiterated a buy rating and issued a $64.00 target price on shares of Pacira Pharmaceuticals in a research note on Tuesday, August 2nd. Jefferies Group reiterated a buy rating and issued a $60.00 target price (down previously from $74.00) on shares of Pacira Pharmaceuticals in a research note on Monday, September 26th. Brean Capital reiterated a hold rating on shares of Pacira Pharmaceuticals in a research note on Friday, August 5th. Cowen and Company reiterated a hold rating on shares of Pacira Pharmaceuticals in a research note on Tuesday, September 20th. Finally, Wedbush reiterated an outperform rating and issued a $105.00 target price on shares of Pacira Pharmaceuticals in a research note on Wednesday, June 22nd. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and an average price target of $72.83.
Shares of Pacira Pharmaceuticals (NASDAQ:PCRX) opened at 35.755 on Tuesday. The company’s market capitalization is $1.33 billion. The stock’s 50 day moving average price is $39.51 and its 200 day moving average price is $44.35. Pacira Pharmaceuticals has a 1-year low of $31.08 and a 1-year high of $80.25.
Pacira Pharmaceuticals (NASDAQ:PCRX) last posted its earnings results on Thursday, August 4th. The company reported $0.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.03 by $0.16. Pacira Pharmaceuticals had a negative net margin of 4.21% and a positive return on equity of 0.02%. The company earned $69.60 million during the quarter, compared to analysts’ expectations of $67.80 million. During the same quarter in the previous year, the company posted $0.20 earnings per share. Pacira Pharmaceuticals’s quarterly revenue was up 17.8% compared to the same quarter last year. Analysts expect that Pacira Pharmaceuticals will post $0.44 EPS for the current year.
In other news, President James S. Scibetta sold 25,000 shares of the business’s stock in a transaction on Monday, August 15th. The shares were sold at an average price of $45.21, for a total value of $1,130,250.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO David M. Stack sold 15,000 shares of the business’s stock in a transaction on Monday, August 15th. The shares were sold at an average price of $45.32, for a total transaction of $679,800.00. The disclosure for this sale can be found here. Company insiders own 6.90% of the company’s stock.
Several institutional investors have recently made changes to their positions in the stock. American Century Companies Inc. raised its position in shares of Pacira Pharmaceuticals by 0.3% in the second quarter. American Century Companies Inc. now owns 66,391 shares of the company’s stock valued at $2,239,000 after buying an additional 206 shares during the period. Legal & General Group Plc raised its position in shares of Pacira Pharmaceuticals by 16.5% in the second quarter. Legal & General Group Plc now owns 8,985 shares of the company’s stock valued at $322,000 after buying an additional 1,270 shares during the period. Elk Creek Partners LLC raised its position in shares of Pacira Pharmaceuticals by 11.6% in the second quarter. Elk Creek Partners LLC now owns 434,699 shares of the company’s stock valued at $14,662,000 after buying an additional 45,141 shares during the period. Litespeed Management L.L.C. purchased a new position in shares of Pacira Pharmaceuticals during the second quarter valued at about $843,000. Finally, Point72 Asset Management L.P. purchased a new position in shares of Pacira Pharmaceuticals during the second quarter valued at about $9,486,000.
Pacira Pharmaceuticals Company Profile
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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