Pacira BioSciences (NASDAQ:PCRX) Price Target Raised to $25.00

Pacira BioSciences (NASDAQ:PCRX) had its price objective upped by Royal Bank Of Canada from $24.00 to $25.00 in a report issued on Wednesday morning,Benzinga reports. Royal Bank Of Canada currently has a sector perform rating on the stock.

A number of other research firms also recently commented on PCRX. Weiss Ratings raised shares of Pacira BioSciences from a “sell (d)” rating to a “sell (d+)” rating in a report on Wednesday, May 20th. HC Wainwright reissued a “buy” rating and set a $38.00 target price on shares of Pacira BioSciences in a report on Wednesday, July 1st. Zacks Research upgraded shares of Pacira BioSciences from a “strong sell” rating to a “hold” rating in a research report on Tuesday, April 7th. Finally, Needham & Company LLC raised their price target on shares of Pacira BioSciences from $32.00 to $33.00 and gave the stock a “buy” rating in a research report on Wednesday. Three equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Pacira BioSciences has an average rating of “Hold” and a consensus target price of $29.80.

Pacira BioSciences Trading Down 2.2%

Shares of NASDAQ PCRX opened at $25.02 on Wednesday. The company has a quick ratio of 3.35, a current ratio of 5.04 and a debt-to-equity ratio of 0.54. The stock’s 50 day moving average price is $24.69 and its two-hundred day moving average price is $23.40. Pacira BioSciences has a 52-week low of $18.80 and a 52-week high of $27.66. The stock has a market capitalization of $997.30 million, a P/E ratio of 71.49 and a beta of 0.27.

Pacira BioSciences (NASDAQ:PCRX) last issued its earnings results on Tuesday, August 4th. The company reported $0.73 EPS for the quarter, topping the consensus estimate of $0.65 by $0.08. Pacira BioSciences had a return on equity of 9.68% and a net margin of 1.96%.The company had revenue of $192.40 million during the quarter, compared to analyst estimates of $191.06 million. During the same quarter last year, the firm earned $0.74 EPS. The business’s revenue was up 6.2% on a year-over-year basis. On average, analysts anticipate that Pacira BioSciences will post 1.94 earnings per share for the current fiscal year.

Insider Buying and Selling at Pacira BioSciences

In related news, SVP Lauren Riker sold 6,115 shares of the firm’s stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of $23.50, for a total value of $143,702.50. Following the sale, the senior vice president owned 62,284 shares of the company’s stock, valued at approximately $1,463,674. This trade represents a 8.94% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 6.40% of the company’s stock.

Institutional Investors Weigh In On Pacira BioSciences

A number of hedge funds have recently added to or reduced their stakes in PCRX. Dimensional Fund Advisors LP grew its position in shares of Pacira BioSciences by 0.5% during the third quarter. Dimensional Fund Advisors LP now owns 2,163,473 shares of the company’s stock worth $55,751,000 after acquiring an additional 11,831 shares during the last quarter. Balyasny Asset Management L.P. lifted its position in Pacira BioSciences by 36.1% in the 2nd quarter. Balyasny Asset Management L.P. now owns 2,130,733 shares of the company’s stock valued at $50,925,000 after purchasing an additional 565,288 shares during the last quarter. Goldman Sachs Group Inc. lifted its position in Pacira BioSciences by 49.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,104,796 shares of the company’s stock valued at $27,454,000 after purchasing an additional 367,869 shares during the last quarter. Impax Asset Management Group plc lifted its position in Pacira BioSciences by 25.0% in the 4th quarter. Impax Asset Management Group plc now owns 750,027 shares of the company’s stock valued at $19,411,000 after purchasing an additional 150,000 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in Pacira BioSciences by 7.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 676,352 shares of the company’s stock valued at $17,504,000 after purchasing an additional 49,079 shares during the period. 99.73% of the stock is currently owned by institutional investors.

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.