Key Colony Management Lowers stake in Pacira Pharmaceuticals Inc (PCRX)

Pacira Pharmaceuticals Inc (PCRX) : Key Colony Management reduced its stake in Pacira Pharmaceuticals Inc by 26.57% during the most recent quarter end. The investment management company now holds a total of 221,000 shares of Pacira Pharmaceuticals Inc which is valued at $10,057,710 after selling 79,975 shares in Pacira Pharmaceuticals Inc , the firm said in a disclosure report filed with the SEC on Aug 12, 2016.Pacira Pharmaceuticals Inc makes up approximately 11.15% of Key Colony Management’s portfolio.

Other Hedge Funds, Including , Van Eck Associates Corp boosted its stake in PCRX in the latest quarter, The investment management firm added 33 additional shares and now holds a total of 347 shares of Pacira Pharmaceuticals Inc which is valued at $15,792.Swiss National Bank boosted its stake in PCRX in the latest quarter, The investment management firm added 800 additional shares and now holds a total of 61,900 shares of Pacira Pharmaceuticals Inc which is valued at $2,320,631.California State Teachers Retirement System reduced its stake in PCRX by selling 1,041 shares or 1.34% in the most recent quarter. The Hedge Fund company now holds 76,416 shares of PCRX which is valued at $2,864,836. Pacira Pharmaceuticals Inc makes up approx 0.01% of California State Teachers Retirement System’s portfolio. Essex Investment Management Co sold out all of its stake in PCRX during the most recent quarter. The investment firm sold 6,306 shares of PCRX which is valued $232,691.

Pacira Pharmaceuticals Inc closed down -0.72 points or -1.79% at $39.49 with 4,88,340 shares getting traded on Monday. Post opening the session at $40.34, the shares hit an intraday low of $39.311 and an intraday high of $40.34 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

On the company’s financial health, Pacira Pharmaceuticals Inc reported $0.21 EPS for the quarter, beating the analyst consensus estimate by $ 0.16 according to the earnings call on Aug 4, 2016. Analyst had a consensus of $0.05. The company had revenue of $69.60 million for the quarter, compared to analysts expectations of $66.92 million. The company’s revenue was up 17.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.20 EPS.

Many Wall Street Analysts have commented on Pacira Pharmaceuticals Inc. Pacira Pharmaceuticals Inc was Downgraded by Brean Capital to ” Hold” on Jul 1, 2016. Shares were Reiterated by Wedbush on May 25, 2016 to “Outperform” and Lowered the Price Target to $ 105 from a previous price target of $113 .

Pacira Pharmaceuticals Inc. is a specialty pharmaceutical company. The Company is focused on the development commercialization and manufacture of pharmaceutical products based on its DepoFoam drug delivery technology primarily for use in hospitals and ambulatory surgery centers. Its primary focus lies in the development of non-opioid products for postsurgical pain control. DepoFoam is basis for the company’s lead product candidate EXPAREL a liposome injection of bupivacaine an amide-type local anesthetic indicated for 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 manufactures for its commercial partners as well as its other product candidates. The Company’s other product candidates include DepoMeloxicam and DepoTranexamic Acid.

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