Pacira BioSciences, Inc. (NASDAQ:PCRX) Receives Average Rating of “Hold” from Analysts

Shares of Pacira BioSciences, Inc. (NASDAQ:PCRX) have been given a consensus rating of “Hold” by the seven analysts that are currently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $29.40.

A number of equities research analysts have recently issued reports on PCRX shares. Royal Bank Of Canada upped their target price on shares of Pacira BioSciences from $22.00 to $24.00 and gave the company a “sector perform” rating in a research note on Friday, May 1st. Zacks Research upgraded Pacira BioSciences from a “strong sell” rating to a “hold” rating in a research note on Tuesday, April 7th. HC Wainwright reissued a “buy” rating and issued a $38.00 price objective on shares of Pacira BioSciences in a report on Wednesday. Needham & Company LLC upped their price objective on Pacira BioSciences from $30.00 to $32.00 and gave the company a “buy” rating in a research note on Friday, May 1st. Finally, Weiss Ratings raised Pacira BioSciences from a “sell (d)” rating to a “sell (d+)” rating in a report on Wednesday, May 20th.

Insider Buying and Selling

In other Pacira BioSciences news, CFO Shawn Cross sold 12,941 shares of Pacira BioSciences stock in a transaction on Thursday, April 23rd. The shares were sold at an average price of $25.16, for a total value of $325,595.56. Following the completion of the transaction, the chief financial officer owned 105,341 shares of the company’s stock, valued at $2,650,379.56. The trade was a 10.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Lauren Riker sold 6,115 shares of the business’s stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $23.50, for a total transaction 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. The trade was a 8.94% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 31,115 shares of company stock valued at $771,896 over the last quarter. Company insiders own 6.40% of the company’s stock.

Institutional Trading of Pacira BioSciences

Institutional investors and hedge funds have recently modified their holdings of the business. Balyasny Asset Management L.P. boosted its holdings in shares of Pacira BioSciences by 36.1% during the second quarter. Balyasny Asset Management L.P. now owns 2,130,733 shares of the company’s stock valued at $50,925,000 after acquiring an additional 565,288 shares during the period. Goldman Sachs Group Inc. increased its holdings in shares of Pacira BioSciences by 49.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,104,796 shares of the company’s stock worth $27,454,000 after acquiring an additional 367,869 shares during the period. Hillsdale Investment Management Inc. bought a new stake in Pacira BioSciences in the 4th quarter valued at about $7,976,000. LSV Asset Management lifted its position in Pacira BioSciences by 179.8% in the 4th quarter. LSV Asset Management now owns 319,800 shares of the company’s stock valued at $8,276,000 after purchasing an additional 205,500 shares during the last quarter. Finally, Assenagon Asset Management S.A. boosted its stake in Pacira BioSciences by 87.3% during the 4th quarter. Assenagon Asset Management S.A. now owns 435,143 shares of the company’s stock valued at $11,262,000 after purchasing an additional 202,773 shares during the period. 99.73% of the stock is owned by institutional investors and hedge funds.

Pacira BioSciences Stock Up 1.4%

Shares of NASDAQ:PCRX opened at $25.39 on Friday. The firm has a market cap of $999.10 million, a PE ratio of 211.60 and a beta of 0.27. The company has a fifty day simple moving average of $23.64 and a 200 day simple moving average of $23.22. The company has a current ratio of 4.73, a quick ratio of 3.35 and a debt-to-equity ratio of 0.56. Pacira BioSciences has a 12-month low of $18.80 and a 12-month high of $27.64.

Pacira BioSciences (NASDAQ:PCRX) last posted its quarterly earnings data on Thursday, April 30th. The company reported $0.60 EPS for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.01). The company had revenue of $177.38 million for 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%. The company’s revenue was up 5.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.65 earnings per share. On average, equities research analysts anticipate that Pacira BioSciences will post 1.94 EPS for the current fiscal year.

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.