Biondo Investment Advisors Lowers stake in Pacira Pharmaceuticals Inc (PCRX)

Pacira Pharmaceuticals Inc (PCRX) : Biondo Investment Advisors reduced its stake in Pacira Pharmaceuticals Inc by 29.01% during the most recent quarter end. The investment management company now holds a total of 180,459 shares of Pacira Pharmaceuticals Inc which is valued at $7,797,633 after selling 73,745 shares in Pacira Pharmaceuticals Inc , the firm said in a disclosure report filed with the SEC on May 9, 2016.Pacira Pharmaceuticals Inc makes up approximately 2.97% of Biondo Investment Advisors’s portfolio.

Other Hedge Funds, Including , Oxford Asset Management sold out all of its stake in PCRX during the most recent quarter. The investment firm sold 170,199 shares of PCRX which is valued $7,354,299.Neuberger Berman Group boosted its stake in PCRX in the latest quarter, The investment management firm added 6,805 additional shares and now holds a total of 21,067 shares of Pacira Pharmaceuticals Inc which is valued at $997,733. Cim Investment Mangement Inc sold out all of its stake in PCRX during the most recent quarter. The investment firm sold 2,685 shares of PCRX which is valued $127,162.Dupont Capital Management Corp reduced its stake in PCRX by selling 7,232 shares or 55.68% in the most recent quarter. The Hedge Fund company now holds 5,757 shares of PCRX which is valued at $311,511. Pacira Pharmaceuticals Inc makes up approx 0.01% of Dupont Capital Management Corp’s portfolio.Rice Hall James Associates boosted its stake in PCRX in the latest quarter, The investment management firm added 1,674 additional shares and now holds a total of 71,558 shares of Pacira Pharmaceuticals Inc which is valued at $3,872,003. Pacira Pharmaceuticals Inc makes up approx 0.23% of Rice Hall James Associates’s portfolio.

Pacira Pharmaceuticals Inc closed down -0.55 points or -1.26% at $43.21 with 9,09,581 shares getting traded on Friday. Post opening the session at $43.78, the shares hit an intraday low of $42.82 and an intraday high of $44.545 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

On the company’s financial health, Pacira Pharmaceuticals Inc reported $0.15 EPS for the quarter, beating the analyst consensus estimate by $ 0.06 according to the earnings call on May 2, 2016. Analyst had a consensus of $0.09. The company had revenue of $65.50 million for the quarter, compared to analysts expectations of $66.82 million. The company’s revenue was up 12.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.27 EPS.

Many Wall Street Analysts have commented on Pacira Pharmaceuticals Inc. Shares were Reiterated by Mizuho on May 3, 2016 to “Buy” and Lowered the Price Target to $ 64 from a previous price target of $71 .Mizuho Initiated Pacira Pharmaceuticals Inc on Apr 19, 2016 to “Buy”, Price Target of the shares are set at $79.

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 primarily for use in hospitals and ambulatory surgery centers. Its primary focus lies in the development of non-opioid products for postsurgical pain control. DepoFoam is basis for the company’s lead product candidate EXPAREL a liposome injection of bupivacaine an amide-type local anesthetic indicated for infiltration into the surgical site to produce postsurgical analgesia. In addition to EXPAREL DepoFoam is also the basis for its other commercial product DepoCyt(e) which the Company manufactures for its commercial partners as well as its other product candidates. The Company’s other product candidates include DepoMeloxicam and DepoTranexamic Acid.

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