Pacira Pharmaceuticals, Inc. (NASDAQ:PCRX) has been the object of insider selling activity recently. VP Lauren Bullaro Riker sold 1,119 shares at an average price of $44.37 on Wed the 7th. The VP now owns $313,385 of the stock as recorded in a recent Form 4 SEC filing. Lauren Bullaro Riker, VP disclosed the sale of 601 shares of PCRX stock. The shares were sold on June 5th for an average price of $43.32. Riker now owns $354,444 of the stock per the Form 4 SEC filing.
James B. Jones, Sr VP reported the sale of 767 shares. The shares were purchased at an average price of $43.32. The Sr VP now owns $425,099 of the stock according to the SEC filing.
Pacira Pharmaceuticals, Inc., launched on December 22, 2006, is a holding company. The Company is a pharmaceutical company focused on the development, manufacture and commercialization of pharmaceutical products, based on its DepoFoam extended release drug delivery technology, for use primarily in hospitals and ambulatory surgery centers. Its lead product candidate is EXPAREL (bupivacaine liposome injectable suspension), which consists of bupivacaine, an amide-type local anesthetic, encapsulated in DepoFoam and is indicated for single-dose infiltration into the surgical site to produce postsurgical analgesia. In addition to EXPAREL, DepoFoam is also the basis for its other Food and Drug Administration (FDA)-approved commercial product, DepoCyt(e), which it manufactures for its commercial partners, as well as its product candidates. The Business’s other product candidates include DepoMeloxicam (DepoMLX) and DepoTranexamic Acid (DepoTXA)..
These funds have also shifted positions in (PCRX). Clearbridge Investments, LLC added to its position by buying 2,442 shares an increase of 0.2% in the quarter. Clearbridge Investments, LLC now holds 1,087,752 shares worth $49,601,000. The value of the position overall is up by 41.5%. Morgan Stanley bolstered its stake by buying 300 shares an increase of 461.5% from 12/31/2016 to 03/31/2017. Morgan Stanley claims 365 shares with a value of $17,000. The total value of its holdings increased 750.0%.
As of quarter end Tower Research Capital LLC (trc) had sold 45 shares trimming its stake by 27.4%. The value of the company’s investment in Pacira Pharmaceuticals, Inc. went from $5,000 to $5,000 a change of $0 since the last quarter. Schroder Investment Management Group augmented its investment by buying 174,505 shares an increase of 23.1%. Schroder Investment Management Group owns 928,527 shares valued at $42,573,000. The value of the position overall is up by 74.8%.
Equity analyst Janney Capital initiated coverage on the stock with a rating of “Neutral”. On October 27 the company was upgraded from “Underperform” to “Market Perform” with a current price target of $35.00 by BMO Capital.
On October 7, 2016 added the stock to its research portfolio setting a rating of “Hold”. On October 7 analysts at Brean Capital initiated coverage on PCRX by announcing an initial rating of “Hold”.
On September 26 Jefferies left the company rating at “Buy” but lowered the price expectation to $60.00 from $72.00. Cowen & Company starting coverage on PCRX with an initial rating of “Market Perform”.
In the market the company is trading down from yesterday’s close of $44.5. Company shares last traded at $44.20 a bit lower than the 50 day moving average which is $47.03 and which is a tad above the 200 day moving average of $42.14. The 50 day moving average went down by -6.01% and the 200 day average went up $2.06 or +4.90%.
Investors are more bullish on shares of the company recently at least if you consider the change in short interest. The firm recorded a fall in short interest of -0.55% as of April 28, 2017 from the last reporting period. Short shares decreased from 4,055,564 to 4,033,333 over that period. The days to cover decreased to 4.6 and the short interest percentage is 0.10% as of April 28.