Pacira BioSciences (NASDAQ:PCRX) Receives Buy Rating from HC Wainwright

Pacira BioSciences (NASDAQ:PCRX)‘s stock had its “buy” rating reaffirmed by stock analysts at HC Wainwright in a note issued to investors on Friday,Benzinga reports. They presently have a $38.00 price target on the stock. HC Wainwright’s target price suggests a potential upside of 46.04% from the company’s previous close.

Several other research analysts also recently weighed in on PCRX. Barclays began coverage on Pacira BioSciences in a research note on Tuesday, December 9th. They set an “equal weight” rating and a $27.00 target price for the company. Weiss Ratings restated a “sell (d+)” rating on shares of Pacira BioSciences in a research report on Monday, December 29th. Truist Financial cut their price objective on Pacira BioSciences from $30.00 to $28.00 and set a “buy” rating for the company in a research note on Friday, November 7th. Finally, Wall Street Zen raised Pacira BioSciences from a “buy” rating to a “strong-buy” rating in a report on Saturday, November 8th. Three analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $28.20.

Pacira BioSciences Trading Up 0.1%

Shares of Pacira BioSciences stock opened at $26.02 on Friday. The firm has a 50-day simple moving average of $24.49 and a two-hundred day simple moving average of $24.24. The company has a debt-to-equity ratio of 0.52, a quick ratio of 3.78 and a current ratio of 5.26. Pacira BioSciences has a fifty-two week low of $19.81 and a fifty-two week high of $27.64. The company has a market cap of $1.12 billion, a P/E ratio of 57.82 and a beta of 0.22.

Pacira BioSciences (NASDAQ:PCRX) last announced 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. The firm had revenue of $179.52 million during the quarter, compared to analyst estimates of $182.86 million. Pacira BioSciences had a return on equity of 12.82% and a net margin of 2.99%.Pacira BioSciences’s revenue for the quarter was up 6.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.79 EPS. As a group, equities analysts predict that Pacira BioSciences will post 2.41 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Jonathan Slonin sold 3,960 shares of the stock in a transaction that occurred on Monday, November 17th. The stock was sold at an average price of $24.09, for a total value of $95,396.40. Following the completion of the transaction, the insider directly owned 178,367 shares in the company, valued at approximately $4,296,861.03. This represents a 2.17% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Lauren Riker sold 1,416 shares of the firm’s stock in a transaction on Monday, January 5th. The stock was sold at an average price of $24.24, for a total value of $34,323.84. Following the sale, the senior vice president directly owned 59,064 shares of the company’s stock, valued at approximately $1,431,711.36. This trade represents a 2.34% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 34,336 shares of company stock valued at $851,868 in the last three months. 6.40% of the stock is currently owned by insiders.

Institutional Trading of Pacira BioSciences

A number of hedge funds and other institutional investors have recently modified their holdings of PCRX. Gagnon Advisors LLC boosted its stake in Pacira BioSciences by 60.0% during the second quarter. Gagnon Advisors LLC now owns 213,402 shares of the company’s stock worth $5,100,000 after buying an additional 80,012 shares during the period. Exchange Traded Concepts LLC purchased a new stake in shares of Pacira BioSciences in the 3rd quarter valued at approximately $1,948,000. KLP Kapitalforvaltning AS lifted its holdings in shares of Pacira BioSciences by 48.5% in the 2nd quarter. KLP Kapitalforvaltning AS now owns 35,200 shares of the company’s stock worth $841,000 after acquiring an additional 11,500 shares during the last quarter. American Century Companies Inc. lifted its holdings in shares of Pacira BioSciences by 77.2% in the 2nd quarter. American Century Companies Inc. now owns 1,182,513 shares of the company’s stock worth $28,262,000 after acquiring an additional 515,090 shares during the last quarter. Finally, Farther Finance Advisors LLC boosted its position in shares of Pacira BioSciences by 1,503.1% during the 2nd quarter. Farther Finance Advisors LLC now owns 8,160 shares of the company’s stock worth $195,000 after purchasing an additional 7,651 shares during the period. 99.73% of the stock is owned by institutional investors and hedge funds.

Pacira BioSciences Company Profile

Pacira BioSciences, Inc is a specialty pharmaceutical company focused on developing and commercializing non-opioid, non-addictive pain management and regenerative health solutions. The company’s flagship product, EXPAREL, is a bupivacaine liposome injectable suspension designed to provide long-lasting postsurgical analgesia. EXPAREL is used by clinicians across a broad range of surgical procedures to reduce reliance on opioid medications and to help manage acute postoperative pain.

In addition to its marketed offering, Pacira maintains an active pipeline of investigational products aimed at addressing unmet needs in pain management and inflammation control.