Wall Street analysts expect that Pacira Pharmaceuticals Inc (NASDAQ:PCRX) will report sales of $77.31 million for the current fiscal quarter, according to Zacks Investment Research. Nine analysts have provided estimates for Pacira Pharmaceuticals’ earnings. The highest sales estimate is $82.32 million and the lowest is $75.30 million. Pacira Pharmaceuticals posted sales of $70.93 million during the same quarter last year, which would indicate a positive year over year growth rate of 9%. The firm is expected to issue its next earnings results on Wednesday, August 1st.
On average, analysts expect that Pacira Pharmaceuticals will report full year sales of $316.09 million for the current fiscal year, with estimates ranging from $311.22 million to $329.62 million. For the next fiscal year, analysts expect that the business will report sales of $366.72 million per share, with estimates ranging from $347.00 million to $412.19 million. Zacks’ sales averages are a mean average based on a survey of research firms that follow Pacira Pharmaceuticals.
Pacira Pharmaceuticals (NASDAQ:PCRX) last announced its quarterly earnings results on Thursday, May 3rd. The company reported $0.02 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.02. The company had revenue of $74.61 million during the quarter, compared to the consensus estimate of $73.92 million. Pacira Pharmaceuticals had a negative return on equity of 5.81% and a negative net margin of 11.45%. Pacira Pharmaceuticals’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same period in the previous year, the business earned ($0.19) EPS.
A number of brokerages have issued reports on PCRX. ValuEngine raised Pacira Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Thursday. Canaccord Genuity set a $34.00 price target on Pacira Pharmaceuticals and gave the stock a “hold” rating in a report on Thursday, May 3rd. Royal Bank of Canada set a $44.00 price target on Pacira Pharmaceuticals and gave the stock a “buy” rating in a report on Thursday, March 1st. HC Wainwright set a $45.00 price target on Pacira Pharmaceuticals and gave the stock a “buy” rating in a report on Thursday, March 1st. Finally, BMO Capital Markets reduced their target price on Pacira Pharmaceuticals from $32.00 to $31.00 and set a “market perform” rating for the company in a report on Thursday, March 1st. Two analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and nine have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $45.00.
Pacira Pharmaceuticals traded down $0.50, reaching $33.75, during trading on Monday, according to Marketbeat Ratings. 1,152,148 shares of the company’s stock were exchanged, compared to its average volume of 675,686. The company has a market capitalization of $1.40 billion, a price-to-earnings ratio of -58.19 and a beta of 1.77. The company has a debt-to-equity ratio of 1.00, a current ratio of 8.66 and a quick ratio of 7.83. Pacira Pharmaceuticals has a 1 year low of $26.95 and a 1 year high of $51.10.
In related news, CEO David M. Stack sold 25,000 shares of the business’s stock in a transaction dated Tuesday, May 15th. The stock was sold at an average price of $33.79, for a total value of $844,750.00. Following the transaction, the chief executive officer now owns 115,446 shares in the company, valued at approximately $3,900,920.34. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Lauren Bullaro Riker sold 801 shares of the business’s stock in a transaction dated Monday, June 4th. The shares were sold at an average price of $33.02, for a total value of $26,449.02. Following the completion of the transaction, the vice president now owns 9,641 shares in the company, valued at approximately $318,345.82. The disclosure for this sale can be found here. Insiders sold a total of 49,093 shares of company stock worth $1,700,983 in the last 90 days. 5.90% of the stock is currently owned by insiders.
A number of hedge funds have recently modified their holdings of PCRX. US Bancorp DE increased its position in Pacira Pharmaceuticals by 53.8% in the 1st quarter. US Bancorp DE now owns 4,292 shares of the company’s stock valued at $134,000 after acquiring an additional 1,501 shares during the period. First Republic Investment Management Inc. acquired a new position in Pacira Pharmaceuticals in the 4th quarter valued at about $201,000. Twin Focus Capital Partners LLC acquired a new position in Pacira Pharmaceuticals in the 4th quarter valued at about $206,000. Fisher Asset Management LLC increased its position in Pacira Pharmaceuticals by 29.6% in the 1st quarter. Fisher Asset Management LLC now owns 6,848 shares of the company’s stock valued at $213,000 after acquiring an additional 1,566 shares during the period. Finally, Redmile Group LLC acquired a new position in Pacira Pharmaceuticals in the 4th quarter valued at about $237,000.
About Pacira Pharmaceuticals
Pacira Pharmaceuticals, Inc, a specialty pharmaceutical company, develops, manufactures, and commercializes proprietary pharmaceutical products primarily for use in hospitals and ambulatory surgery centers in the United States. It develops pharmaceutical products based on its proprietary DepoFoam drug delivery technology.
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