According to Zacks, “Pacira’s efforts to expand Exparel's label to boost sales in oral surgery and chronic pain are encouraging. The recent launch of Exparel in the oral surgeon community which facilitates a move from inpatient to outpatient surgery should bring in additional sales in the coming quarters. Pacira is looking to expand Exparel's label in the animal health market as well. However, Pacira’s sole dependence on Exparel for top-line growth is concerning. The company suffered a major setback when it received a Complete Response Letter (CRL) from the FDA for use of Exparel in nerve block to provide postsurgical analgesia. We are also concerned about the lack of other late-stage candidates in the company’s pipeline. Its share price has grossly underperformed the broader industry in the past one year. Loss estimates are widening ahead the company’s Q4 release.”
Several other analysts also recently weighed in on the company. Cowen and Company reiterated a hold rating on shares of Pacira Pharmaceuticals in a research note on Tuesday, September 20th. Wedbush reiterated an outperform rating and set a $109.00 price target on shares of Pacira Pharmaceuticals in a research note on Wednesday, September 21st. BMO Capital Markets upgraded Pacira Pharmaceuticals from an underperform rating to a market perform rating and dropped their price target for the company from $36.00 to $35.00 in a research note on Thursday, October 27th. They noted that the move was a valuation call. Brean Capital began coverage on Pacira Pharmaceuticals in a research note on Friday, October 7th. They set a hold rating on the stock. Finally, Jefferies Group reiterated a buy rating and set a $53.00 price target on shares of Pacira Pharmaceuticals in a research note on Wednesday, December 7th. One research analyst has rated the stock with a sell rating, six have given a hold rating and eight have issued a buy rating to the company. The company presently has an average rating of Hold and a consensus target price of $59.50.
Shares of Pacira Pharmaceuticals (NASDAQ:PCRX) traded down 2.82% during mid-day trading on Tuesday, reaching $37.85. The company had a trading volume of 1,326,200 shares. Pacira Pharmaceuticals has a 52 week low of $29.95 and a 52 week high of $70.86. The stock has a 50 day moving average of $32.70 and a 200-day moving average of $36.39. The company’s market capitalization is $1.42 billion.
Pacira Pharmaceuticals (NASDAQ:PCRX) last announced its earnings results on Wednesday, November 2nd. The company reported $0.20 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.02) by $0.22. Pacira Pharmaceuticals had a negative return on equity of 1.52% and a negative net margin of 13.37%. The firm had revenue of $68.40 million for the quarter, compared to the consensus estimate of $67.16 million. During the same period in the previous year, the business earned $0.32 EPS. The firm’s revenue for the quarter was up 10.0% on a year-over-year basis. On average, analysts expect that Pacira Pharmaceuticals will post $0.54 earnings per share for the current fiscal year.
A number of hedge funds and other institutional investors have recently modified their holdings of PCRX. Parametrica Management Ltd purchased a new position in Pacira Pharmaceuticals during the second quarter valued at approximately $338,000. Bank of Montreal Can purchased a new position in Pacira Pharmaceuticals during the second quarter valued at approximately $6,467,000. Alps Advisors Inc. raised its position in Pacira Pharmaceuticals by 25.3% in the second quarter. Alps Advisors Inc. now owns 52,212 shares of the company’s stock valued at $1,761,000 after buying an additional 10,542 shares in the last quarter. Rice Hall James & Associates LLC raised its position in Pacira Pharmaceuticals by 3.0% in the second quarter. Rice Hall James & Associates LLC now owns 73,701 shares of the company’s stock valued at $2,486,000 after buying an additional 2,143 shares in the last quarter. Finally, Public Employees Retirement Association of Colorado raised its position 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 in the last quarter.
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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