Pacira BioSciences (NASDAQ:PCRX) Price Target Raised to $33.00

Pacira BioSciences (NASDAQ:PCRX) had its target price upped by research analysts at Needham & Company LLC from $32.00 to $33.00 in a research note issued on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the stock. Needham & Company LLC’s price target indicates a potential upside of 19.48% from the stock’s current price.

Other equities analysts have also issued research reports about the stock. Zacks Research upgraded shares of Pacira BioSciences from a “strong sell” rating to a “hold” rating in a report on Tuesday, April 7th. HC Wainwright restated a “buy” rating and issued a $38.00 target price on shares of Pacira BioSciences in a research note on Wednesday, July 1st. Royal Bank Of Canada boosted their target price on Pacira BioSciences from $22.00 to $24.00 and gave the company a “sector perform” rating in a research report on Friday, May 1st. Finally, Weiss Ratings raised Pacira BioSciences from a “sell (d)” rating to a “sell (d+)” rating in a research note on Wednesday, May 20th. Three investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Pacira BioSciences has an average rating of “Hold” and an average target price of $29.60.

Pacira BioSciences Price Performance

Pacira BioSciences stock opened at $27.62 on Wednesday. The stock has a market capitalization of $1.09 billion, a price-to-earnings ratio of 230.19 and a beta of 0.27. Pacira BioSciences has a 52-week low of $18.80 and a 52-week high of $27.66. The company has a debt-to-equity ratio of 0.56, a quick ratio of 3.35 and a current ratio of 4.73. The stock’s 50 day moving average price is $24.60 and its two-hundred day moving average price is $23.32.

Pacira BioSciences (NASDAQ:PCRX) last released its earnings results on Tuesday, August 4th. The company reported $0.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.65 by $0.08. The company had revenue of $192.40 million for the quarter, compared to the consensus estimate of $191.06 million. Pacira BioSciences had a net margin of 0.70% and a return on equity of 10.24%. Pacira BioSciences’s quarterly revenue was up 6.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.74 EPS. On average, equities analysts predict that Pacira BioSciences will post 1.94 earnings per share for the current year.

Insider Transactions at Pacira BioSciences

In other Pacira BioSciences news, SVP Lauren Riker sold 6,115 shares of the business’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 transaction of $143,702.50. Following the completion of the sale, the senior vice president directly 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 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. Company insiders own 6.40% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Northwestern Mutual Wealth Management Co. raised its position in Pacira BioSciences by 5,900.0% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,500 shares of the company’s stock valued at $39,000 after buying an additional 1,475 shares during the last quarter. Kestra Advisory Services LLC purchased a new position in Pacira BioSciences during the fourth quarter worth about $48,000. Eurizon Capital SGR S.p.A. bought a new position in shares of Pacira BioSciences in the fourth quarter valued at approximately $51,000. Global Retirement Partners LLC grew its stake in Pacira BioSciences by 479.4% in the 4th quarter. Global Retirement Partners LLC now owns 2,028 shares of the company’s stock valued at $52,000 after purchasing an additional 1,678 shares during the period. Finally, Meeder Asset Management Inc. purchased a new stake in Pacira BioSciences during the first quarter worth about $46,000. Hedge funds and other 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.