RBC Capital Reaffirms Their Buy Rating on Pacira Pharmaceuticals

By Carrie Williams

RBC Capital analyst Randall Stanicky reiterated a Buy rating on Pacira Pharmaceuticals (NASDAQ: PCRX) on October 11 and set a price target of $54. The company’s shares opened today at $34.05, close to its 52-week low of $29.95.

According to TipRanks.com, Stanicky is ranked 0 out of 5 stars with an average return of -12.8% and a 24.5% success rate. Stanicky covers the Healthcare sector, focusing on stocks such as Eagle Pharmaceuticals, Jazz Pharmaceuticals, and Flexion Therapeutics.

Currently, the analyst consensus on Pacira Pharmaceuticals is Moderate Buy and the average price target is $52.38, representing a 53.8% upside.

In a report issued on October 2, Canaccord Genuity also maintained a Buy rating on the stock with a $44 price target.

Based on Pacira Pharmaceuticals’ latest earnings report for the quarter ending June 30, the company posted quarterly revenue of $70.93 million and GAAP net loss of $19.74 million. In comparison, last year the company earned revenue of $68.36 million and had a GAAP net loss of $22.16 million.

Based on the recent corporate insider activity of 35 insiders, corporate insider sentiment is neutral on the stock. Most recently, in July 2017, David Stack, the CEO & Chairman of PCRX bought 15,000 shares for a total of $24,150.

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Pacira Pharmaceuticals, Inc. is a specialty pharmaceutical company. It develops, commercializes, and manufactures pharmaceutical products for use in hospitals and ambulatory surgery centers. It develops pharmaceutical products based on its proprietary DepoFoam drug delivery technology.