Pacira BioSciences (NASDAQ:PCRX) Downgraded to Buy Rating by Wall Street Zen

Wall Street Zen downgraded shares of Pacira BioSciences (NASDAQ:PCRX) from a strong-buy rating to a buy rating in a report issued on Sunday.

Other equities research analysts also recently issued research reports about the stock. Weiss Ratings raised shares of Pacira BioSciences from a “sell (d)” rating to a “sell (d+)” rating in a research note on Wednesday, May 20th. HC Wainwright reissued a “buy” rating and issued a $38.00 price objective on shares of Pacira BioSciences in a research note on Wednesday, July 1st. Needham & Company LLC boosted their target price on shares of Pacira BioSciences from $32.00 to $33.00 and gave the stock a “buy” rating in a report on Wednesday, August 5th. Finally, Royal Bank Of Canada upped their target price on shares of Pacira BioSciences from $24.00 to $25.00 and gave the company a “sector perform” rating in a research report on Wednesday, August 5th. Three research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Pacira BioSciences currently has an average rating of “Hold” and an average target price of $29.80.

Pacira BioSciences Stock Performance

NASDAQ:PCRX opened at $23.00 on Friday. The company has a debt-to-equity ratio of 0.54, a current ratio of 5.04 and a quick ratio of 3.94. Pacira BioSciences has a 1 year low of $18.80 and a 1 year high of $27.66. The stock’s 50 day simple moving average is $24.80 and its two-hundred day simple moving average is $23.56. The company has a market cap of $916.78 million, a price-to-earnings ratio of 65.72 and a beta of 0.27.

Pacira BioSciences (NASDAQ:PCRX) last issued its quarterly earnings data on Tuesday, August 4th. The company reported $0.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.65 by $0.08. Pacira BioSciences had a return on equity of 9.68% and a net margin of 1.96%.The business had revenue of $192.40 million for the quarter, compared to analysts’ expectations of $191.06 million. During the same period in the prior year, the firm earned $0.74 EPS. The company’s revenue for the quarter was up 6.2% on a year-over-year basis. As a group, equities analysts anticipate that Pacira BioSciences will post 1.98 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Pacira BioSciences news, SVP Lauren Riker sold 6,115 shares of the company’s stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $23.50, for a total value of $143,702.50. Following the transaction, the senior vice president owned 62,284 shares of the company’s stock, valued at $1,463,674. This represents a 8.94% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 6.40% of the stock is owned by company insiders.

Institutional Trading of Pacira BioSciences

Large investors have recently made changes to their positions in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Pacira BioSciences by 4.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 27,242 shares of the company’s stock worth $677,000 after purchasing an additional 1,165 shares during the last quarter. Goldman Sachs Group Inc. increased its stake in 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 buying an additional 367,869 shares during the period. Strs Ohio bought a new stake in Pacira BioSciences during the 1st quarter valued at about $75,000. Marshall Wace LLP bought a new stake in Pacira BioSciences during the 2nd quarter valued at $4,550,000. Finally, Sei Investments Co. raised its holdings in shares of Pacira BioSciences by 35.3% in the second quarter. Sei Investments Co. now owns 25,357 shares of the company’s stock valued at $606,000 after acquiring an additional 6,609 shares in the last quarter. 99.73% of the stock is owned by hedge funds and other institutional investors.

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.