Analysts Set Pacira BioSciences, Inc. (NASDAQ:PCRX) PT at $29.83

Shares of Pacira BioSciences, Inc. (NASDAQ:PCRX) have been assigned an average recommendation of “Hold” from the eight research firms that are presently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, four have given a hold recommendation and three have issued a buy recommendation on the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $29.8333.

Several equities research analysts recently weighed in on the company. Needham & Company LLC upped their price target on Pacira BioSciences from $32.00 to $33.00 and gave the stock a “buy” rating in a research note on Wednesday, August 5th. HC Wainwright restated a “buy” rating and set a $38.00 target price on shares of Pacira BioSciences in a report on Wednesday, July 1st. Weiss Ratings downgraded shares of Pacira BioSciences from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Wednesday. Truist Financial assumed coverage on shares of Pacira BioSciences in a research report on Monday, August 17th. They issued a “buy” rating and a $30.00 target price on the stock. Finally, Leerink Partners assumed coverage on shares of Pacira BioSciences in a research report on Wednesday, September 9th. They set a “market perform” rating and a $28.00 price target for the company.

Pacira BioSciences Stock Down 1.7%

NASDAQ PCRX opened at $24.48 on Friday. The company has a debt-to-equity ratio of 0.54, a current ratio of 5.04 and a quick ratio of 3.94. The stock has a market capitalization of $975.77 million, a PE ratio of 69.94 and a beta of 0.26. Pacira BioSciences has a 1 year low of $18.80 and a 1 year high of $27.66. The business’s 50-day moving average is $25.39 and its 200 day moving average is $24.16.

Pacira BioSciences (NASDAQ:PCRX) last posted its earnings results on Tuesday, August 4th. The company reported $0.73 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $192.40 million for the quarter, compared to analysts’ expectations of $191.06 million. During the same period in the previous year, the firm earned $0.74 earnings per share. The business’s revenue was up 6.2% compared to the same quarter last year. Sell-side analysts forecast that Pacira BioSciences will post 1.98 earnings per share for the current year.

Insider Transactions at Pacira BioSciences

In related news, insider Jonathan Slonin sold 3,040 shares of the business’s stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $23.23, for a total value of $70,619.20. Following the completion of the transaction, the insider directly owned 216,384 shares in the company, valued at $5,026,600.32. The trade was a 1.39% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 6.40% of the company’s stock.

Institutional Trading of Pacira BioSciences

Large investors have recently made changes to their positions in the stock. Dimensional Fund Advisors LP boosted its stake in shares of Pacira BioSciences by 5.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,060,597 shares of the company’s stock worth $46,572,000 after buying an additional 110,584 shares during the last quarter. Wellington Management Group LLP raised its position in shares of Pacira BioSciences by 17.8% during the second quarter. Wellington Management Group LLP now owns 563,458 shares of the company’s stock valued at $14,295,000 after buying an additional 85,075 shares during the last quarter. Gagnon Securities LLC lifted its holdings in shares of Pacira BioSciences by 11.5% in the fourth quarter. Gagnon Securities LLC now owns 501,211 shares of the company’s stock worth $12,971,000 after buying an additional 51,494 shares in the last quarter. LSV Asset Management boosted its position in shares of Pacira BioSciences by 179.8% during the fourth quarter. LSV Asset Management now owns 319,800 shares of the company’s stock worth $8,276,000 after acquiring an additional 205,500 shares during the last quarter. Finally, Hillsdale Investment Management Inc. bought a new position in shares of Pacira BioSciences during the fourth quarter worth $7,976,000. 99.73% of the stock is currently owned by institutional investors.

About Pacira BioSciences

Pacira BioSciences, Inc is a pharmaceutical company focused on developing and commercializing non-opioid pain-management products. The company’s therapies are intended to help manage acute and chronic pain while supporting efforts to reduce reliance on opioid medications.

Pacira’s principal product is EXPAREL, an extended-release formulation of bupivacaine used for postsurgical pain management and regional analgesia. The company also markets ZILRETTA, an extended-release corticosteroid injection for osteoarthritis knee pain, and iovera, a device-based treatment that uses targeted cold therapy to temporarily block peripheral nerves and reduce pain.

Founded as Pacira Pharmaceuticals, the company changed its name to Pacira BioSciences in 2020 to reflect its broader focus on innovative pain therapies.