Brokerages expect Pacira Pharmaceuticals, Inc. (NASDAQ:PCRX) to post sales of $74.57 million for the current fiscal quarter, according to Zacks Investment Research. Four analysts have issued estimates for Pacira Pharmaceuticals’ earnings. The highest sales estimate is $77.10 million and the lowest is $71.80 million. Pacira Pharmaceuticals posted sales of $69.64 million in the same quarter last year, which suggests a positive year-over-year growth rate of 7.1%. The business is expected to announce its next quarterly earnings report on Thursday, August 3rd.
On average, analysts expect that Pacira Pharmaceuticals will report full year sales of $74.57 million for the current year, with estimates ranging from $303.56 million to $312.01 million. For the next fiscal year, analysts forecast that the business will post sales of $397.49 million per share, with estimates ranging from $372.29 million to $431.50 million. Zacks Investment Research’s sales averages are a mean average based on a survey of research firms that that provide coverage for Pacira Pharmaceuticals.
Pacira Pharmaceuticals (NASDAQ:PCRX) last issued its quarterly earnings results on Thursday, May 4th. The company reported ($0.19) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.23) by $0.04. The business had revenue of $69.30 million for the quarter, compared to analysts’ expectations of $70.30 million. Pacira Pharmaceuticals had a negative net margin of 19.26% and a negative return on equity of 7.71%. The business’s quarterly revenue was up 5.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.15 earnings per share.
A number of research firms have issued reports on PCRX. HC Wainwright set a $59.00 price objective on shares of Pacira Pharmaceuticals and gave the company a “buy” rating in a research report on Thursday, March 16th. Mizuho decreased their price objective on shares of Pacira Pharmaceuticals from $59.00 to $54.00 and set a “buy” rating on the stock in a research report on Thursday, March 23rd. Canaccord Genuity restated a “buy” rating and issued a $60.00 price objective on shares of Pacira Pharmaceuticals in a research report on Wednesday, March 29th. Wedbush restated an “outperform” rating and issued a $89.00 price objective on shares of Pacira Pharmaceuticals in a research report on Wednesday, April 19th. Finally, Jefferies Group LLC set a $60.00 price objective on shares of Pacira Pharmaceuticals and gave the company a “buy” rating in a research report on Thursday, March 2nd. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and eight have given a buy rating to the company. Pacira Pharmaceuticals has an average rating of “Hold” and a consensus price target of $55.25.
In other news, CAO Kristen Marie Williams sold 21,041 shares of the company’s stock in a transaction that occurred on Monday, May 15th. The shares were sold at an average price of $50.86, for a total value of $1,070,145.26. Following the transaction, the chief accounting officer now owns 18,775 shares in the company, valued at $954,896.50. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Scott Braunstein sold 768 shares of the company’s stock in a transaction that occurred on Monday, June 5th. The stock was sold at an average price of $43.32, for a total transaction of $33,269.76. Following the completion of the transaction, the senior vice president now owns 9,982 shares in the company, valued at approximately $432,420.24. The disclosure for this sale can be found here. Insiders have sold 50,564 shares of company stock worth $2,506,682 in the last three months. 6.60% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in PCRX. Benjamin F. Edwards & Company Inc. boosted its position in 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 during the last quarter. FNY Partners Fund LP bought a new position in Pacira Pharmaceuticals during the first quarter valued at $136,000. Ameritas Investment Partners Inc. bought a new position in Pacira Pharmaceuticals during the first quarter valued at $144,000. Amalgamated Bank bought a new position in Pacira Pharmaceuticals during the first quarter valued at $204,000. Finally, Principal Financial Group Inc. bought a new position in Pacira Pharmaceuticals during the first quarter valued at $237,000.
Shares of Pacira Pharmaceuticals (NASDAQ:PCRX) traded down 3.31% during mid-day trading on Friday, reaching $42.30. 900,054 shares of the company’s stock were exchanged. Pacira Pharmaceuticals has a one year low of $29.95 and a one year high of $58.95. The company has a 50 day moving average price of $46.65 and a 200-day moving average price of $42.43. The stock’s market cap is $1.70 billion.
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Pacira Pharmaceuticals Company Profile
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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