Pacira Pharmaceuticals (PCRX) Received its Third Buy in a Row

After Needham and Jefferies gave Pacira Pharmaceuticals (NASDAQ: PCRX) a Buy rating last month, the company received another Buy, this time from RBC Capital. Analyst Gregory Renza maintained a Buy rating on Pacira Pharmaceuticals yesterday and set a price target of $83.00. The company’s shares closed last Thursday at $60.73.

According to TipRanks.com, Renza is a 1-star analyst with an average return of -1.1% and a 35.7% success rate. Renza covers the Healthcare sector, focusing on stocks such as Global Blood Therapeutics, Verrica Pharmaceuticals, and Inovio Pharmaceuticals.

Currently, the analyst consensus on Pacira Pharmaceuticals is a Strong Buy with an average price target of $81.50, a 36.0% upside from current levels. In a report issued on January 3, J.P. Morgan also initiated coverage with a Buy rating on the stock with a $83.00 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 $128 million and net profit of $17.66 million. In comparison, last year the company earned revenue of $117 million and had a net profit of $130 million.

Based on the recent corporate insider activity of 51 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying 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.

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