Wedbush Keeps Their Buy Rating on Pacira Pharmaceuticals (PCRX)

Wedbush analyst Liana Moussatos reiterated a Buy rating on Pacira Pharmaceuticals (PCRXResearch Report) today and set a price target of $94.00. The company’s shares opened today at $51.68.

Moussatos covers the Healthcare sector, focusing on stocks such as Pacira Pharmaceuticals, Aquestive Therapeutics, and Verona Pharma. According to TipRanks, Moussatos has an average return of -8.1% and a 33.13% success rate on recommended stocks.

Pacira Pharmaceuticals has an analyst consensus of Strong Buy, with a price target consensus of $81.71, implying a 58.11% upside from current levels. In a report released today, Needham also maintained a Buy rating on the stock with a $76.00 price target.

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Based on Pacira Pharmaceuticals’ latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $169.41 million and a net profit of $19.88 million. In comparison, last year the company earned a revenue of $135.59 million and had a net profit of $19.08 million

Based on the recent corporate insider activity of 67 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.

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