Pacira BioSciences’ (PCRX) “Buy” Rating Reaffirmed at HC Wainwright

Pacira BioSciences (NASDAQ:PCRX)‘s stock had its “buy” rating reissued by investment analysts at HC Wainwright in a report released on Wednesday, Benzinga reports. They currently have a $57.00 price target on the stock. HC Wainwright’s target price would indicate a potential upside of 92.11% from the stock’s current price.

Other research analysts also recently issued reports about the stock. Wedbush restated an “outperform” rating and set a $57.00 target price on shares of Pacira BioSciences in a research report on Thursday, February 8th. Barclays decreased their price target on Pacira BioSciences from $40.00 to $38.00 and set an “overweight” rating on the stock in a research note on Wednesday. Royal Bank of Canada reduced their price target on Pacira BioSciences from $53.00 to $45.00 and set an “outperform” rating on the stock in a research report on Friday, March 1st. Needham & Company LLC dropped their target price on shares of Pacira BioSciences from $45.00 to $43.00 and set a “buy” rating on the stock in a research report on Wednesday. Finally, TheStreet upgraded shares of Pacira BioSciences from a “d+” rating to a “c” rating in a research report on Thursday, February 29th. Eleven investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, Pacira BioSciences presently has an average rating of “Buy” and an average price target of $47.40.

Pacira BioSciences Price Performance

Pacira BioSciences stock traded up $3.16 during midday trading on Wednesday, reaching $29.67. 1,549,140 shares of the stock traded hands, compared to its average volume of 501,730. The stock has a market cap of $1.38 billion, a P/E ratio of 37.15 and a beta of 0.77. Pacira BioSciences has a 12 month low of $25.33 and a 12 month high of $43.50. The stock’s fifty day moving average is $28.28 and its 200-day moving average is $29.51. The company has a quick ratio of 4.17, a current ratio of 5.24 and a debt-to-equity ratio of 0.59.

Pacira BioSciences (NASDAQ:PCRX) last released its earnings results on Thursday, February 29th. The company reported $0.71 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.71. The business had revenue of $181.24 million for the quarter, compared to analyst estimates of $180.60 million. Pacira BioSciences had a return on equity of 12.81% and a net margin of 6.22%. As a group, equities research analysts anticipate that Pacira BioSciences will post 2.17 EPS for the current year.

Insider Activity

In other news, Director Gary W. Pace sold 90,000 shares of Pacira BioSciences stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $30.60, for a total value of $2,754,000.00. Following the transaction, the director now owns 22,127 shares of the company’s stock, valued at $677,086.20. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, Director Gary W. Pace sold 1,066 shares of the company’s stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $29.67, for a total transaction of $31,628.22. Following the transaction, the director now directly owns 140,384 shares in the company, valued at $4,165,193.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Gary W. Pace sold 90,000 shares of Pacira BioSciences stock in a transaction on Friday, March 8th. The shares were sold at an average price of $30.60, for a total value of $2,754,000.00. Following the completion of the sale, the director now directly owns 22,127 shares of the company’s stock, valued at $677,086.20. The disclosure for this sale can be found here. 6.60% of the stock is owned by corporate insiders.

Institutional Trading of Pacira BioSciences

Several hedge funds and other institutional investors have recently modified their holdings of PCRX. ICA Group Wealth Management LLC bought a new stake in Pacira BioSciences during the fourth quarter worth $30,000. China Universal Asset Management Co. Ltd. increased its holdings in shares of Pacira BioSciences by 96.8% during the third quarter. China Universal Asset Management Co. Ltd. now owns 1,185 shares of the company’s stock worth $36,000 after purchasing an additional 583 shares during the period. Nisa Investment Advisors LLC lifted its position in Pacira BioSciences by 310.9% during the third quarter. Nisa Investment Advisors LLC now owns 2,001 shares of the company’s stock worth $61,000 after purchasing an additional 1,514 shares during the period. Quadrant Capital Group LLC increased its stake in Pacira BioSciences by 61.5% in the fourth quarter. Quadrant Capital Group LLC now owns 2,324 shares of the company’s stock valued at $78,000 after acquiring an additional 885 shares during the last quarter. Finally, Cape Investment Advisory Inc. acquired a new stake in shares of Pacira BioSciences in the 4th quarter valued at approximately $97,000. Institutional investors and hedge funds own 99.73% of the company’s stock.

About Pacira BioSciences

Pacira BioSciences, Inc engages in the development, manufacture, marketing, distribution, and sale of non-opioid pain management and regenerative health solutions to healthcare practitioners in the United States. The company offers EXPAREL, a bupivacaine liposome injectable suspension; ZILRETTA, a triamcinolone acetonide extended-release injectable suspension; and iovera system, a non-opioid handheld cryoanalgesia device used to produce controlled doses of cold temperature to targeted nerves.