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 37.1% during the most recent quarter end. The investment management company now holds a total of 139,000 shares of Pacira Pharmaceuticals Inc which is valued at $5,212,500 after selling 82,000 shares in Pacira Pharmaceuticals Inc , the firm said in a disclosure report filed with the SEC on Nov 14, 2016.Pacira Pharmaceuticals Inc makes up approximately 6.81% of Key Colony Management’s portfolio.

Other Hedge Funds, Including , Raymond James Associates boosted its stake in PCRX in the latest quarter, The investment management firm added 1,882 additional shares and now holds a total of 15,907 shares of Pacira Pharmaceuticals Inc which is valued at $596,513.Stephens Investment Management Group boosted its stake in PCRX in the latest quarter, The investment management firm added 39,295 additional shares and now holds a total of 618,505 shares of Pacira Pharmaceuticals Inc which is valued at $23,070,237. Pacira Pharmaceuticals Inc makes up approx 0.73% of Stephens Investment Management Group’s portfolio.Td Asset Management Inc reduced its stake in PCRX by selling 14,000 shares or 18.37% in the most recent quarter. The Hedge Fund company now holds 62,200 shares of PCRX which is valued at $2,074,370.Nationwide Fund Advisors boosted its stake in PCRX in the latest quarter, The investment management firm added 224 additional shares and now holds a total of 23,816 shares of Pacira Pharmaceuticals Inc which is valued at $781,165.

Pacira Pharmaceuticals Inc closed down -0.55 points or -1.50% at $36 with 9,33,663 shares getting traded on Monday. Post opening the session at $36.75, the shares hit an intraday low of $35.775 and an intraday high of $36.75 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 $0.20 EPS for the quarter, beating the analyst consensus estimate by $ 0.25 according to the earnings call on Nov 2, 2016. Analyst had a consensus of $-0.05. The company had revenue of $68.40 million for the quarter, compared to analysts expectations of $67.16 million. The company’s revenue was up 10.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.32 EPS.

Many Wall Street Analysts have commented on Pacira Pharmaceuticals Inc. Shares were Reiterated by Mizuho on Nov 3, 2016 to “Buy” and Lowered the Price Target to $ 46 from a previous price target of $64 .Shares were Reiterated by Wedbush on Oct 19, 2016 to “Outperform” and Lowered the Price Target to $ 93 from a previous price target of $109 .Pacira Pharmaceuticals Inc was Resumed by Brean Capital to “Hold” on Oct 7, 2016.

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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