Pacira Pharmaceuticals, Inc. ( PCRX ) saw a big move last session, as the company's shares fell by nearly 10% yesterday. The move came on pretty good volume too with far more shares changing hands than in a normal session. This reverses the recent trend for PCRX as the stock is now up about 8% since Apr 1.
Yesterday, the company received a subpoena from the U.S. Department of Justice, asking the company to produce documents pertaining to marketing and promotional practices for its lead drug Exparel.
The pharmaceutical company has seen a flat track record when it comes to current year estimate revisions over the past few weeks and the consensus for earnings hasn't been in a trend either. This recent price action is discouraging, so make sure to keep a close watch on this firm in the near future, and especially on earnings estimates following the recent slump.
PCRX currently has a Zacks Rank #5 (Strong Sell) while its Earnings ESP is 0.00%.
Investors interested in the Medical-Drugs industry may consider better-ranked stock like ArQule Inc. ( ARQL ), which carries a Zacks Rank #1 (Strong Buy).
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