Pacira Biosciences (NASDAQ:PCRX) announced its quarterly earnings results on Thursday. The company reported $0.48 earnings per share for the quarter, beating analysts’ consensus estimates of $0.13 by $0.35, Briefing.com reports. Pacira Biosciences had a return on equity of 8.62% and a net margin of 2.04%. The business had revenue of $104.69 million during the quarter, compared to analysts’ expectations of $104.88 million. During the same quarter last year, the business posted $0.31 earnings per share. The business’s revenue for the quarter was up 25.5% on a year-over-year basis.
Pacira Biosciences stock traded up $1.40 during midday trading on Friday, reaching $44.02. 711,200 shares of the company were exchanged, compared to its average volume of 631,161. The firm’s 50-day simple moving average is $39.20 and its 200-day simple moving average is $41.12. The company has a market capitalization of $1.76 billion, a price-to-earnings ratio of 151.79, a P/E/G ratio of 1.96 and a beta of 1.13. The company has a debt-to-equity ratio of 0.99, a quick ratio of 4.12 and a current ratio of 4.75. Pacira Biosciences has a 1 year low of $34.64 and a 1 year high of $50.90.
In related news, CEO David M. Stack sold 12,849 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $39.15, for a total transaction of $503,038.35. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Kristen Marie Williams sold 6,252 shares of the business’s stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $39.49, for a total value of $246,891.48. The disclosure for this sale can be found here. Insiders own 5.80% of the company’s stock.
A number of research analysts have recently weighed in on PCRX shares. Cowen restated a “hold” rating and issued a $41.00 price target on shares of Pacira Biosciences in a research report on Thursday. BTIG Research started coverage on Pacira Biosciences in a research report on Wednesday. They issued a “buy” rating and a $56.00 price target for the company. Stifel Nicolaus set a $42.00 price target on Pacira Biosciences and gave the company a “hold” rating in a research report on Friday, August 9th. Jefferies Financial Group set a $60.00 price target on Pacira Biosciences and gave the company a “buy” rating in a research report on Tuesday, October 8th. Finally, Barclays raised their price target on Pacira Biosciences from $52.00 to $55.00 and gave the company an “overweight” rating in a research report on Friday. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and six have given a buy rating to the stock. Pacira Biosciences currently has an average rating of “Hold” and an average target price of $52.55.
About Pacira Biosciences
Pacira BioSciences, Inc provides non-opioid pain management and regenerative health solutions for health care practitioners and their patients in the United States. The company develops products based on its proprietary DepoFoam product delivery technology that encapsulates drugs without altering their molecular structure.
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