Pacira BioSciences (NASDAQ:PCRX) Rating Increased to Strong-Buy at Wall Street Zen

Wall Street Zen upgraded shares of Pacira BioSciences (NASDAQ:PCRX) from a buy rating to a strong-buy rating in a report published on Saturday morning.

PCRX has been the subject of several other research reports. HC Wainwright reaffirmed a “buy” rating and issued a $38.00 price target on shares of Pacira BioSciences in a research report on Wednesday, July 1st. Weiss Ratings raised Pacira BioSciences from a “sell (d)” rating to a “sell (d+)” rating in a report on Wednesday, May 20th. Needham & Company LLC upped their price objective on Pacira BioSciences from $32.00 to $33.00 and gave the stock a “buy” rating in a research note on Wednesday. Finally, Royal Bank Of Canada raised their price target on Pacira BioSciences from $24.00 to $25.00 and gave the company a “sector perform” rating in a report on Wednesday. Three investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Pacira BioSciences currently has a consensus rating of “Hold” and a consensus price target of $29.80.

Pacira BioSciences Stock Down 2.2%

Shares of NASDAQ PCRX opened at $25.02 on Friday. The firm’s fifty day moving average is $24.69 and its 200 day moving average is $23.40. Pacira BioSciences has a 52 week low of $18.80 and a 52 week high of $27.66. The company has a market cap of $997.30 million, a price-to-earnings ratio of 71.49 and a beta of 0.27. The company has a quick ratio of 3.35, a current ratio of 5.04 and a debt-to-equity ratio of 0.54.

Pacira BioSciences (NASDAQ:PCRX) last announced its earnings results on Tuesday, August 4th. The company reported $0.73 EPS for the quarter, beating analysts’ consensus estimates of $0.65 by $0.08. Pacira BioSciences had a return on equity of 9.68% and a net margin of 1.96%.The company had revenue of $192.40 million during the quarter, compared to the consensus estimate of $191.06 million. During the same quarter in the prior year, the company earned $0.74 earnings per share. The firm’s revenue for the quarter was up 6.2% on a year-over-year basis. On average, equities research analysts expect that Pacira BioSciences will post 1.94 earnings per share for the current year.

Insider Buying and Selling at Pacira BioSciences

In other news, SVP Lauren Riker sold 6,115 shares of the company’s stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $23.50, for a total value of $143,702.50. Following the completion of the sale, the senior vice president owned 62,284 shares of the company’s stock, valued at approximately $1,463,674. This represents a 8.94% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 6.40% of the stock is owned by insiders.

Hedge Funds Weigh In On Pacira BioSciences

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Northwestern Mutual Wealth Management Co. raised its position in Pacira BioSciences by 5,900.0% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,500 shares of the company’s stock valued at $39,000 after acquiring an additional 1,475 shares in the last quarter. Meeder Asset Management Inc. purchased a new position in Pacira BioSciences in the 1st quarter valued at about $46,000. Kestra Advisory Services LLC acquired a new stake in shares of Pacira BioSciences in the fourth quarter worth approximately $48,000. Eurizon Capital SGR S.p.A. purchased a new stake in shares of Pacira BioSciences during the fourth quarter worth $51,000. Finally, Global Retirement Partners LLC purchased a new stake in Pacira BioSciences during the 2nd quarter valued at about $51,000. Institutional investors and hedge funds 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.