In a report released today, Ami Fadia from Leerink Partners downgraded Pacira Pharmaceuticals (PCRX) to Hold, with a price target of $75.00. The company’s shares closed last Wednesday at $73.34, close to its 52-week high of $77.89.
According to TipRanks.com, Fadia is a 3-star analyst with an average return of 6.5% and a 50.6% success rate. Fadia covers the Healthcare sector, focusing on stocks such as Osmotica Pharmaceuticals, Amneal Pharmaceuticals, and Jazz Pharmaceuticals.
Pacira Pharmaceuticals has an analyst consensus of Strong Buy, with a price target consensus of $76.63, implying a 2.7% upside from current levels. In a report issued on January 13, BMO Capital also maintained a Hold rating on the stock with a $65.00 price target.
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Based on Pacira Pharmaceuticals’ latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $117 million and net profit of $130 million. In comparison, last year the company earned revenue of $105 million and had a GAAP net loss of $6.09 million.
Based on the recent corporate insider activity of 50 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of PCRX in relation to earlier this year. Most recently, in November 2020, Laura Brege, a Director at PCRX sold 12,000 shares for a total of $791,400.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
Pacira Biosciences, Inc. develops and manufactures injectable therapeutic products. The firm engages in the development, commercialization and manufacture of pharmaceutical products for use in postsurgical outcomes for acute care practitioners and their patients. Its flagship product, EXPAREL, redefines pain management after surgery as an opioid-free alternative indicated for single-dose infiltration into the surgical site to produce postsurgical analgesia. The company was founded in December 2006 and is headquartered in Parsippany, NJ.
