Pacira Pharmaceuticals Inc (PCRX) was Reiterated by Mizuho to “Buy” while Lowering the Price Target of the company shares to $ 64 from a previous price target of $71 . Mizuho advised their investors in a research report released on May 3, 2016.
Many Wall Street Analysts have commented on Pacira Pharmaceuticals Inc. Mizuho Initiated Pacira Pharmaceuticals Inc on Apr 19, 2016 to “Buy”, Price Target of the shares are set at $79.
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.
Pacira Pharmaceuticals Inc closed down -3.6 points or -6.65% at $50.51 with 28,06,112 shares getting traded on Monday. Post opening the session at $54.01, the shares hit an intraday low of $48.509 and an intraday high of $55.54 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.
In a different news, on Apr 19, 2016, David M Stack (CEO and Chairman) sold 25,000 shares at $64.29 per share price. According to the SEC, on Feb 22, 2016, Paul J Hastings (director) sold 3,000 shares at $60.00 per share price. On Feb 1, 2016, Scott Braunstein (SVP, Strategy & Corp. Dev.) purchased 2,000 shares at $58.92 per share price, according to the Form-4 filing with the securities and exchange commission.
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.