In a report released today, Dewey Steadman from Canaccord Genuity maintained a Hold rating on Pacira Pharmaceuticals (NASDAQ: PCRX), with a price target of $45. The company’s shares opened today at $46.15, close to its 52-week high of $48.40.
According to TipRanks.com, Steadman is a 3-star analyst with an average return of 2.0% and a 37.4% success rate. Steadman covers the Healthcare sector, focusing on stocks such as ANI Pharmaceuticals Inc, Perrigo Company plc, and Endo International.
Currently, the analyst consensus on Pacira Pharmaceuticals is a Moderate Buy with an average price target of $51.33, an 11.2% upside from current levels. In a report issued on August 6, Merrill Lynch also downgraded the stock to Hold with a $46 price target.
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Based on Pacira Pharmaceuticals’ latest earnings release for the quarter ending June 30, the company reported a quarterly net profit of $2.56 million. In comparison, last year the company had a GAAP net loss of $19.74 million.
Based on the recent corporate insider activity of 31 insiders, corporate insider sentiment is negative on the stock.
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Pacira Pharmaceuticals, Inc. is a holding company, which engages in the development, commercialization, and manufacture of pharmaceutical products for use in postsurgical outcomes for acute care practitioners and their patients.
