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

Shares of Pacira BioSciences, Inc. (NASDAQ:PCRX) have been given a consensus recommendation of “Hold” by the seven ratings firms that are presently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating on the company. The average 1-year target price among brokers that have covered the stock in the last year is $29.40.

Several equities research analysts have recently issued reports on PCRX shares. Zacks Research raised Pacira BioSciences from a “strong sell” rating to a “hold” rating in a research note on Tuesday, April 7th. Barclays lowered their price objective on Pacira BioSciences from $27.00 to $25.00 and set an “equal weight” rating for the company in a research note on Thursday, March 26th. Royal Bank Of Canada raised their price objective on Pacira BioSciences from $22.00 to $24.00 and gave the company a “sector perform” rating in a research note on Friday, May 1st. Weiss Ratings raised Pacira BioSciences from a “sell (d)” rating to a “sell (d+)” rating in a research note on Wednesday, May 20th. Finally, Wall Street Zen lowered Pacira BioSciences from a “strong-buy” rating to a “buy” rating in a research note on Saturday, February 28th.

Pacira BioSciences Price Performance

NASDAQ:PCRX opened at $23.21 on Wednesday. The firm has a market capitalization of $913.31 million, a price-to-earnings ratio of 193.43 and a beta of 0.29. Pacira BioSciences has a 1 year low of $18.80 and a 1 year high of $27.64. The business has a 50 day simple moving average of $23.55 and a 200-day simple moving average of $23.27. The company has a debt-to-equity ratio of 0.56, a current ratio of 4.73 and a quick ratio of 3.35.

Pacira BioSciences (NASDAQ:PCRX) last posted its quarterly earnings data on Thursday, April 30th. The company reported $0.60 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.61 by ($0.01). The company had revenue of $177.38 million during the quarter, compared to the consensus estimate of $171.80 million. Pacira BioSciences had a net margin of 0.70% and a return on equity of 10.24%. Pacira BioSciences’s revenue for the quarter was up 5.0% on a year-over-year basis. During the same period in the previous year, the business earned $0.65 earnings per share. Equities analysts forecast that Pacira BioSciences will post 1.91 EPS for the current year.

Insider Buying and Selling

In related news, CFO Shawn Cross sold 12,941 shares of the firm’s stock in a transaction that occurred on Thursday, April 23rd. The stock was sold at an average price of $25.16, for a total transaction of $325,595.56. Following the completion of the sale, the chief financial officer directly owned 105,341 shares of the company’s stock, valued at approximately $2,650,379.56. This trade represents a 10.94% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Jonathan Slonin sold 3,261 shares of the firm’s stock in a transaction that occurred on Tuesday, March 17th. The stock was sold at an average price of $22.82, for a total value of $74,416.02. Following the sale, the insider directly owned 223,640 shares of the company’s stock, valued at $5,103,464.80. This represents a 1.44% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 28,261 shares of company stock valued at $702,610 over the last three months. 6.40% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Pacira BioSciences

A number of institutional investors and hedge funds have recently modified their holdings of the business. PNC Financial Services Group Inc. lifted its stake in shares of Pacira BioSciences by 15.1% during the 1st quarter. PNC Financial Services Group Inc. now owns 3,751 shares of the company’s stock worth $85,000 after acquiring an additional 492 shares during the last quarter. Inspire Investing LLC lifted its stake in shares of Pacira BioSciences by 3.2% during the 4th quarter. Inspire Investing LLC now owns 17,958 shares of the company’s stock worth $465,000 after acquiring an additional 556 shares during the last quarter. Hantz Financial Services Inc. increased its holdings in Pacira BioSciences by 175.4% during the 3rd quarter. Hantz Financial Services Inc. now owns 1,132 shares of the company’s stock worth $29,000 after purchasing an additional 721 shares during the period. State of Wyoming increased its holdings in Pacira BioSciences by 7.0% during the 4th quarter. State of Wyoming now owns 11,155 shares of the company’s stock worth $289,000 after purchasing an additional 728 shares during the period. Finally, Allspring Global Investments Holdings LLC increased its holdings in Pacira BioSciences by 8.0% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 10,604 shares of the company’s stock worth $259,000 after purchasing an additional 785 shares during the period. 99.73% of the stock is 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.