Pacira BioSciences (NASDAQ:PCRX) Stock Rating Upgraded by Barclays

Pacira BioSciences (NASDAQ:PCRX) was upgraded by equities researchers at Barclays to a “hold” rating in a report issued on Monday,Zacks.com reports.

A number of other equities research analysts also recently issued reports on the stock. Zacks Research upgraded shares of Pacira BioSciences from a “strong sell” rating to a “hold” rating in a report on Thursday, August 14th. Wall Street Zen raised shares of Pacira BioSciences from a “buy” rating to a “strong-buy” rating in a research note on Saturday, November 8th. HC Wainwright reaffirmed a “buy” rating and issued a $38.00 target price on shares of Pacira BioSciences in a research report on Monday, November 17th. Truist Financial reduced their target price on Pacira BioSciences from $30.00 to $28.00 and set a “buy” rating on the stock in a report on Friday, November 7th. Finally, Weiss Ratings restated a “sell (d+)” rating on shares of Pacira BioSciences in a research note on Monday. Three analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $28.20.

Pacira BioSciences Stock Performance

Shares of NASDAQ PCRX opened at $24.89 on Monday. The company has a 50-day simple moving average of $23.09 and a 200-day simple moving average of $24.13. The company has a debt-to-equity ratio of 0.52, a current ratio of 5.26 and a quick ratio of 3.78. The company has a market cap of $1.07 billion, a PE ratio of 54.98 and a beta of 0.23. Pacira BioSciences has a 12 month low of $18.17 and a 12 month high of $27.64.

Pacira BioSciences (NASDAQ:PCRX) last issued its quarterly earnings results on Thursday, November 6th. The company reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.05. Pacira BioSciences had a return on equity of 12.82% and a net margin of 2.99%.The company had revenue of $179.52 million during the quarter, compared to the consensus estimate of $182.86 million. During the same period in the previous year, the firm posted $0.79 EPS. Pacira BioSciences’s revenue was up 6.5% on a year-over-year basis. On average, equities analysts anticipate that Pacira BioSciences will post 2.41 earnings per share for the current year.

Insider Buying and Selling at Pacira BioSciences

In related news, insider Jonathan Slonin sold 3,960 shares of the stock in a transaction dated Monday, November 17th. The shares were sold at an average price of $24.09, for a total transaction of $95,396.40. Following the sale, the insider owned 178,367 shares in the company, valued at $4,296,861.03. This represents a 2.17% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 6.40% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Pacira BioSciences

A number of hedge funds have recently added to or reduced their stakes in the stock. Natixis Advisors LLC bought a new stake in Pacira BioSciences during the first quarter worth approximately $327,000. US Bancorp DE boosted its stake in Pacira BioSciences by 31.0% during the first quarter. US Bancorp DE now owns 2,270 shares of the company’s stock valued at $56,000 after buying an additional 537 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Pacira BioSciences by 4.4% during the first quarter. Charles Schwab Investment Management Inc. now owns 524,486 shares of the company’s stock worth $13,033,000 after acquiring an additional 22,282 shares during the period. Connor Clark & Lunn Investment Management Ltd. raised its position in Pacira BioSciences by 288.3% in the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 171,377 shares of the company’s stock worth $4,259,000 after acquiring an additional 127,240 shares in the last quarter. Finally, Invesco Ltd. lifted its holdings in Pacira BioSciences by 159.9% in the 1st quarter. Invesco Ltd. now owns 624,865 shares of the company’s stock valued at $15,528,000 after acquiring an additional 384,419 shares during the last quarter. 99.73% of the stock is currently owned by institutional investors.

Pacira BioSciences Company Profile

Pacira Biosciences, Inc is a holding company, which engages in the provision of non-opioid pain management and regenerative health solutions to improve patients’ journeys along the neural pain pathway. Its products include EXPAREL, iovera, and DepoFoam. The company was founded in December 2006 and is headquartered in Tampa, FL.