Pacira Pharmaceuticals Inc (PCRX) reported quarterly earnings results on Monday, May-2-2016. The company said it had a profit of $0.15 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.06. Analysts had a consensus of $0.09. The company posted revenue of $65.50 million in the period, 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. Mizuho Initiated Pacira Pharmaceuticals Inc on Apr 19, 2016 to “Buy”, Price Target of the shares are set at $79.
Pacira Pharmaceuticals Inc closed down -2.9 points or -4.83% at $57.19 with 6,01,441 shares getting traded on Wednesday. Post opening the session at $60.18, the shares hit an intraday low of $56.65 and an intraday high of $60.18 and the price fluctuated in this range throughout the day.Shares ended Wednesday 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.