Price Action Report: What’s Pacira Pharmaceuticals Inc Downside After Touching 52 Week Low?

Price Action Report: What's Pacira Pharmaceuticals Inc Downside After Touching 52 Week Low?

The stock of Pacira Pharmaceuticals Inc (NASDAQ:PCRX) hit a new 52-week low and has $28.30 target or 9.00% below today’s $31.10 share price. The 9 months bearish chart indicates high risk for the $1.11B company. The 1-year low was reported on Nov, 1 by Barchart.com. If the $28.30 price target is reached, the company will be worth $99.90M less.
The 52-week low event is an important milestone for every stock because it shows very negative momentum and is time when sellers come in. During such technical setups, fundamental investors usually stay away and are careful buying the stock. About 582,613 shares traded hands. Pacira Pharmaceuticals Inc (NASDAQ:PCRX) has declined 37.48% since March 30, 2016 and is downtrending. It has underperformed by 40.49% the S&P500.

Pacira Pharmaceuticals Inc (NASDAQ:PCRX) Ratings Coverage

Out of 10 analysts covering Pacira Pharmaceuticals (NASDAQ:PCRX), 7 rate it a “Buy”, 1 “Sell”, while 2 “Hold”. This means 70% are positive. Pacira Pharmaceuticals has been the topic of 19 analyst reports since July 28, 2015 according to StockzIntelligence Inc. The rating was maintained by Brean Capital with “Buy” on Friday, February 26. The firm has “Hold” rating given on Friday, October 7 by Brean Capital. JMP Securities reinitiated the shares of PCRX in a report on Tuesday, January 5 with “Mkt Outperform” rating. The firm earned “Buy” rating on Tuesday, May 3 by Mizuho. The stock has “Buy” rating given by Nomura on Tuesday, September 29. The stock of Pacira Pharmaceuticals Inc (NASDAQ:PCRX) earned “Neutral” rating by Bank of America on Monday, August 3. The firm has “Outperform” rating by Wedbush given on Wednesday, October 19. The rating was upgraded by Bank of America on Friday, January 29 to “Buy”. The firm has “Buy” rating given on Monday, September 26 by Jefferies. On Friday, July 1 the stock rating was downgraded by Brean Capital to “Hold”.

According to Zacks Investment Research, “Pacira Pharmaceuticals, Inc. is a specialty pharmaceutical company focused on the development, commercialization and manufacture of new pharmaceutical products, based on its proprietary DepoFoam drug delivery technology, for use in hospitals and ambulatory surgery centers. Pacira Pharmaceuticals, Inc. is based in New Jersey.”

Insitutional Activity: The institutional sentiment increased to 1.34 in Q2 2016. Its up 0.39, from 0.95 in 2016Q1. The ratio increased, as 41 funds sold all Pacira Pharmaceuticals Inc shares owned while 39 reduced positions. 36 funds bought stakes while 71 increased positions. They now own 39.74 million shares or 7.79% less from 43.10 million shares in 2016Q1.
Van Eck Corporation accumulated 0% or 347 shares. Tfs Cap Ltd Limited Liability Company last reported 0.24% of its portfolio in the stock. Two Sigma Securities Limited Co accumulated 13,392 shares or 0.25% of the stock. Guggenheim Llc has 0.01% invested in the company for 70,968 shares. The Connecticut-based Quantitative Systematic Strategies Ltd Limited Liability Company has invested 0.14% in Pacira Pharmaceuticals Inc (NASDAQ:PCRX). Vantage Inv Ltd owns 250 shares or 0% of their US portfolio. Fisher Asset Management Limited reported 6,197 shares or 0% of all its holdings. The Australia-based Macquarie Group Limited has invested 0% in Pacira Pharmaceuticals Inc (NASDAQ:PCRX). Rhumbline Advisers holds 44,716 shares or 0% of its portfolio. Invesco Limited holds 0.01% of its portfolio in Pacira Pharmaceuticals Inc (NASDAQ:PCRX) for 538,856 shares. Employees Retirement Association Of Colorado reported 90,199 shares or 0.03% of all its holdings. Alps Advsr Inc accumulated 52,212 shares or 0.02% of the stock. The New York-based Broadfin Capital Limited Liability Com has invested 0.31% in Pacira Pharmaceuticals Inc (NASDAQ:PCRX). Mcf Advsrs Llc holds 0% of its portfolio in Pacira Pharmaceuticals Inc (NASDAQ:PCRX) for 200 shares. Janney Montgomery Scott Ltd Liability Corp, a Pennsylvania-based fund reported 5,664 shares.

Insider Transactions: Since June 6, 2016, the stock had 0 buys, and 7 sales for $2.03 million net activity. On Monday, June 6 Kronenfeld Mark A. sold $42,255 worth of the stock or 900 shares. Another trade for 1,136 shares valued at $53,335 was sold by HASTINGS PAUL J. The insider Scibetta James S sold 25,000 shares worth $1.13 million. Brege Laura had sold 1,000 shares worth $46,950 on Monday, June 6. On Monday, August 15 the insider STACK DAVID M sold $679,800. Another trade for 600 shares valued at $28,319 was sold by Williams Kristen Marie. 938 shares with value of $44,706 were sold by Riker Lauren Bullaro on Monday, June 6.

More news for Pacira Pharmaceuticals Inc (NASDAQ:PCRX) were recently published by: Fool.com, which released: “Why Pacira Pharmaceuticals, Inc. Shares Are Spiking 21% Today” on August 04, 2016. Fool.com‘s article titled: “Pacira Pharmaceuticals Inc.’s Double-Digit Drop Explained” and published on May 02, 2016 is yet another important article.

PCRX Company Profile

Pacira Pharmaceuticals, Inc., incorporated on December 22, 2006, is a specialty pharmaceutical company. The Firm is focused on the development, commercialization and manufacture of pharmaceutical products, based on its DepoFoam drug delivery technology, for use in hospitals and ambulatory surgery centers. The Company’s primary focus lies in the development of non-opioid products for postsurgical pain control. The Company’s lead product candidate, EXPAREL (bupivacaine liposome injectable suspension), which consists of bupivacaine encapsulated in DepoFoam, and is an amide-type local anesthetic 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 commercial product, DepoCyt(e), which the Company makes for its commercial partners, as well as its other product candidates. The Company’s other product candidates include DepoMeloxicam (DepoMLX) and DepoTranexamic Acid (DepoTXA).

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