Pacira BioSciences, Inc. (NASDAQ:PCRX) Receives Consensus Recommendation of “Hold” from Brokerages

Shares of Pacira BioSciences, Inc. (NASDAQ:PCRX) have been given an average rating of “Hold” by the six brokerages that are covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $30.75.

Several equities analysts have commented on the company. Barclays assumed coverage on Pacira BioSciences in a research report on Tuesday, December 9th. They issued an “equal weight” rating and a $27.00 target price for the company. Wall Street Zen lowered shares of Pacira BioSciences from a “strong-buy” rating to a “buy” rating in a report on Saturday. HC Wainwright reiterated a “buy” rating and set a $38.00 target price on shares of Pacira BioSciences in a research report on Friday, January 9th. Needham & Company LLC reissued a “buy” rating and set a $30.00 target price on shares of Pacira BioSciences in a report on Friday, January 9th. Finally, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Pacira BioSciences in a research note on Monday, December 29th.

Pacira BioSciences Stock Performance

NASDAQ PCRX opened at $21.91 on Monday. The firm’s 50 day simple moving average is $22.65 and its 200 day simple moving average is $23.84. The firm has a market capitalization of $887.14 million, a price-to-earnings ratio of 146.07 and a beta of 0.21. The company has a current ratio of 4.54, a quick ratio of 3.28 and a debt-to-equity ratio of 0.54. Pacira BioSciences has a 1 year low of $18.80 and a 1 year high of $27.64.

Pacira BioSciences (NASDAQ:PCRX) last released its earnings results on Thursday, February 26th. The company reported $0.57 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.85 by ($0.28). The business had revenue of $196.87 million during the quarter, compared to the consensus estimate of $201.93 million. Pacira BioSciences had a net margin of 0.97% and a return on equity of 10.39%. The business’s revenue was up 5.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.91 EPS. As a group, research analysts expect that Pacira BioSciences will post 2.41 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Shawn Cross sold 9,104 shares of the company’s stock in a transaction that occurred on Wednesday, December 10th. The stock was sold at an average price of $25.14, for a total value of $228,874.56. Following the sale, the chief financial officer directly owned 56,250 shares in the company, valued at $1,414,125. This represents a 13.93% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Lauren Riker sold 4,000 shares of the stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $20.81, for a total transaction of $83,240.00. Following the sale, the senior vice president directly owned 52,313 shares of the company’s stock, valued at $1,088,633.53. This represents a 7.10% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 30,416 shares of company stock valued at $744,315 over the last 90 days. 6.40% of the stock is currently owned by company insiders.

Institutional Trading of Pacira BioSciences

Institutional investors have recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Pacira BioSciences by 4.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 27,242 shares of the company’s stock valued at $677,000 after purchasing an additional 1,165 shares in the last quarter. Goldman Sachs Group Inc. boosted its holdings in shares of Pacira BioSciences by 49.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,104,796 shares of the company’s stock worth $27,454,000 after buying an additional 367,869 shares in the last quarter. Strs Ohio bought a new position in shares of Pacira BioSciences during the 1st quarter worth approximately $75,000. Y Intercept Hong Kong Ltd acquired a new stake in shares of Pacira BioSciences during the 2nd quarter worth approximately $287,000. Finally, Phocas Financial Corp. increased its stake in shares of Pacira BioSciences by 35.8% in the 2nd quarter. Phocas Financial Corp. now owns 193,437 shares of the company’s stock valued at $4,623,000 after acquiring an additional 50,994 shares in the last quarter. Institutional investors own 99.73% of the company’s stock.

About Pacira BioSciences

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.