What Made Northland Securities Upgrade Pacira Pharmaceuticals’ Stock?

By Austin Angelo

In a report released today, Tim Chiang from Northland Securities upgraded Pacira Pharmaceuticals (PCRXResearch Report) to Buy, with a price target of $67.00. The company’s shares closed last Friday at $60.77, close to its 52-week high of $64.44.

According to TipRanks.com, Chiang is a 2-star analyst with an average return of 0.4% and a 49.2% success rate. Chiang covers the Healthcare sector, focusing on stocks such as Amphastar Pharmaceuticals, Verrica Pharmaceuticals, and Kala Pharmaceuticals.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Pacira Pharmaceuticals with a $65.83 average price target, implying an 8.1% upside from current levels. In a report issued on September 7, RBC Capital also maintained a Buy rating on the stock with a $65.00 price target.

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The company has a one-year high of $64.44 and a one-year low of $27.46. Currently, Pacira Pharmaceuticals has an average volume of 701K.

Based on the recent corporate insider activity of 54 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.

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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.