Bank of New York Mellon Corp lowered its position in Pacira Pharmaceuticals Inc. (NASDAQ:PCRX) by 9.1% during the second quarter, according to its most recent filing with the SEC. The firm owned 182,835 shares of the company’s stock after selling 18,234 shares during the period. Bank of New York Mellon Corp owned approximately 0.49% of Pacira Pharmaceuticals worth $6,166,000 as of its most recent filing with the SEC.
Several other institutional investors have also bought and sold shares of PCRX. Quantitative Systematic Strategies LLC purchased a new position in shares of Pacira Pharmaceuticals during the second quarter worth about $299,000. Public Employees Retirement Association of Colorado boosted its position in shares of 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 worth $3,042,000 after buying an additional 82,300 shares in the last quarter. Rice Hall James & Associates LLC boosted its position in shares of Pacira Pharmaceuticals by 3.0% in the second quarter. Rice Hall James & Associates LLC now owns 73,701 shares of the company’s stock worth $2,486,000 after buying an additional 2,143 shares in the last quarter. Alps Advisors Inc. boosted its position in shares of Pacira Pharmaceuticals by 25.3% in the second quarter. Alps Advisors Inc. now owns 52,212 shares of the company’s stock worth $1,761,000 after buying an additional 10,542 shares in the last quarter. Finally, American Century Companies Inc. boosted 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 worth $2,239,000 after buying an additional 206 shares in the last quarter.
Shares of Pacira Pharmaceuticals Inc. (NASDAQ:PCRX) traded down 8.82% during midday trading on Wednesday, reaching $36.81. The company had a trading volume of 3,097,012 shares. The company’s 50-day moving average is $41.65 and its 200-day moving average is $45.42. Pacira Pharmaceuticals Inc. has a 1-year low of $31.08 and a 1-year high of $80.25. The stock’s market capitalization is $1.37 billion.
Pacira Pharmaceuticals (NASDAQ:PCRX) last issued its quarterly earnings results on Thursday, August 4th. The company reported $0.19 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.03 by $0.16. The company had revenue of $69.60 million for the quarter, compared to analysts’ expectations of $67.80 million. Pacira Pharmaceuticals had a positive return on equity of 0.02% and a negative net margin of 4.21%. The firm’s revenue for the quarter was up 17.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.20 earnings per share. On average, equities research analysts forecast that Pacira Pharmaceuticals Inc. will post $0.44 EPS for the current year.
A number of equities analysts recently issued reports on PCRX shares. Wedbush cut their target price on Pacira Pharmaceuticals from $113.00 to $105.00 and set an “outperform” rating on the stock in a report on Wednesday, May 25th. Mizuho reiterated a “buy” rating on shares of Pacira Pharmaceuticals in a report on Thursday, May 26th. BMO Capital Markets assumed coverage on Pacira Pharmaceuticals in a report on Tuesday, June 28th. They issued an “underperform” rating and a $36.00 target price on the stock. Brean Capital cut Pacira Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Friday, July 1st. Finally, Zacks Investment Research upgraded Pacira Pharmaceuticals from a “hold” rating to a “buy” rating and set a $42.00 price objective on the stock in a research note on Tuesday, July 26th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $74.00.
In other Pacira Pharmaceuticals news, CEO David M. Stack sold 15,000 shares of the business’s stock in a transaction 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 filing with the SEC, which is available through the SEC website. Also, President James S. Scibetta sold 25,000 shares of the business’s stock in a transaction 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.
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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