BidaskClub Lowers Pacira Biosciences (NASDAQ:PCRX) to Sell

BidaskClub downgraded shares of Pacira Biosciences (NASDAQ:PCRX) from a hold rating to a sell rating in a research note issued to investors on Friday morning, BidAskClub reports.

Several other equities research analysts have also recently issued reports on the company. Wedbush set a $85.00 target price on Pacira Biosciences and gave the stock a buy rating in a report on Friday, June 28th. Barclays began coverage on Pacira Biosciences in a report on Tuesday, June 11th. They issued an overweight rating and a $52.00 target price on the stock. BMO Capital Markets reduced their target price on Pacira Biosciences from $46.00 to $43.00 and set a market perform rating on the stock in a report on Friday, August 9th. Stifel Nicolaus set a $42.00 price target on Pacira Biosciences and gave the stock a hold rating in a research report on Friday, August 9th. Finally, Zacks Investment Research upgraded Pacira Biosciences from a sell rating to a hold rating and set a $47.00 price target for the company in a research report on Friday, August 2nd. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and eight have issued a buy rating to the company. Pacira Biosciences presently has an average rating of Hold and an average price target of $54.13.

Shares of PCRX stock traded down $0.72 during trading hours on Friday, hitting $38.22. The stock had a trading volume of 539,900 shares, compared to its average volume of 623,591. Pacira Biosciences has a one year low of $35.07 and a one year high of $55.00. The company has a debt-to-equity ratio of 0.99, a current ratio of 4.75 and a quick ratio of 7.83. The stock’s 50-day moving average price is $42.22 and its two-hundred day moving average price is $41.34. The stock has a market capitalization of $1.63 billion, a price-to-earnings ratio of 59.39, a PEG ratio of 1.76 and a beta of 1.15.

Pacira Biosciences (NASDAQ:PCRX) last issued its earnings results on Thursday, August 8th. The company reported $0.41 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.14 by $0.27. Pacira Biosciences had a return on equity of 8.62% and a net margin of 2.04%. The firm had revenue of $102.60 million for the quarter, compared to analysts’ expectations of $99.92 million. During the same period in the previous year, the firm posted $0.24 earnings per share. The business’s revenue was up 22.0% compared to the same quarter last year. As a group, equities research analysts predict that Pacira Biosciences will post 0.66 earnings per share for the current fiscal year.

In other Pacira Biosciences news, CEO David M. Stack sold 12,849 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $39.15, for a total transaction of $503,038.35. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Kristen Marie Williams sold 6,252 shares of the business’s stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $39.49, for a total value of $246,891.48. The disclosure for this sale can be found here. In the last quarter, insiders sold 77,091 shares of company stock valued at $3,246,975. 5.80% of the stock is currently owned by company insiders.

Large investors have recently made changes to their positions in the business. Geode Capital Management LLC boosted its position in shares of Pacira Biosciences by 7.4% during the fourth quarter. Geode Capital Management LLC now owns 516,774 shares of the company’s stock valued at $22,231,000 after buying an additional 35,635 shares during the period. Mizuho Securities USA LLC purchased a new position in shares of Pacira Biosciences during the first quarter valued at approximately $932,000. Mesirow Financial Investment Management Equity Management boosted its position in shares of Pacira Biosciences by 21.9% during the second quarter. Mesirow Financial Investment Management Equity Management now owns 109,611 shares of the company’s stock valued at $4,767,000 after buying an additional 19,690 shares during the period. First Quadrant L P CA boosted its position in shares of Pacira Biosciences by 17.4% during the first quarter. First Quadrant L P CA now owns 8,873 shares of the company’s stock valued at $338,000 after buying an additional 1,316 shares during the period. Finally, Cortina Asset Management LLC boosted its position in shares of Pacira Biosciences by 14.5% during the second quarter. Cortina Asset Management LLC now owns 208,471 shares of the company’s stock valued at $9,066,000 after buying an additional 26,427 shares during the period. Institutional investors and hedge funds own 99.89% of the company’s stock.

About Pacira Biosciences

Pacira BioSciences, Inc provides non-opioid pain management and regenerative health solutions for health care practitioners and their patients in the United States. The company develops products based on its proprietary DepoFoam product delivery technology that encapsulates drugs without altering their molecular structure.

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Analyst Recommendations for Pacira Biosciences (NASDAQ:PCRX)

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