Pacira BioSciences, Inc. (NASDAQ:PCRX) Receives $28.20 Average Price Target from Analysts

Pacira BioSciences, Inc. (NASDAQ:PCRX) has received an average recommendation of “Hold” from the seven analysts that are covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $28.20.

Several brokerages have recently commented on PCRX. Truist Financial cut their price objective on Pacira BioSciences from $30.00 to $28.00 and set a “buy” rating for the company in a report on Friday, November 7th. HC Wainwright reiterated a “buy” rating and set a $38.00 target price on shares of Pacira BioSciences in a research report on Monday, November 17th. Weiss Ratings reissued a “sell (d+)” rating on shares of Pacira BioSciences in a research note on Monday, December 29th. Wall Street Zen upgraded shares of Pacira BioSciences from a “buy” rating to a “strong-buy” rating in a research report on Saturday, November 8th. Finally, Barclays assumed coverage on shares of Pacira BioSciences in a research report on Tuesday, December 9th. They issued an “equal weight” rating and a $27.00 target price for the company.

Pacira BioSciences Stock Up 0.1%

PCRX opened at $26.02 on Friday. The firm has a market capitalization of $1.12 billion, a P/E ratio of 57.82 and a beta of 0.22. Pacira BioSciences has a one year low of $19.81 and a one year high of $27.64. The company has a fifty day moving average price of $24.49 and a 200-day moving average price of $24.24. The company has a debt-to-equity ratio of 0.52, a current ratio of 5.26 and a quick ratio of 3.78.

Pacira BioSciences (NASDAQ:PCRX) last posted its quarterly earnings data on Thursday, November 6th. The company reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.05. The company had revenue of $179.52 million during the quarter, compared to analyst estimates of $182.86 million. Pacira BioSciences had a return on equity of 12.82% and a net margin of 2.99%.The firm’s quarterly revenue was up 6.5% on a year-over-year basis. During the same quarter last year, the company earned $0.79 earnings per share. Equities research analysts expect that Pacira BioSciences will post 2.41 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Jonathan Slonin sold 3,960 shares of the firm’s stock in a transaction dated Monday, November 17th. The stock was sold at an average price of $24.09, for a total transaction of $95,396.40. Following the transaction, the insider directly owned 178,367 shares of the company’s stock, valued at approximately $4,296,861.03. This trade represents a 2.17% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Lauren Riker sold 1,416 shares of the company’s stock in a transaction that occurred on Monday, January 5th. The stock was sold at an average price of $24.24, for a total value of $34,323.84. Following the completion of the sale, the senior vice president directly owned 59,064 shares of the company’s stock, valued at approximately $1,431,711.36. This represents a 2.34% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 34,336 shares of company stock worth $851,868. 6.40% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Pacira BioSciences

Several institutional investors and hedge funds have recently made changes to their positions in PCRX. Ancora Advisors LLC lifted its stake in Pacira BioSciences by 214.3% in the first quarter. Ancora Advisors LLC now owns 4,400 shares of the company’s stock worth $109,000 after purchasing an additional 3,000 shares during the last quarter. Jacobs Levy Equity Management Inc. increased its holdings in shares of Pacira BioSciences by 88.3% in the first quarter. Jacobs Levy Equity Management Inc. now owns 855,488 shares of the company’s stock worth $21,259,000 after buying an additional 401,227 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Pacira BioSciences by 4.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 27,242 shares of the company’s stock valued at $677,000 after acquiring an additional 1,165 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in Pacira BioSciences by 49.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,104,796 shares of the company’s stock valued at $27,454,000 after acquiring an additional 367,869 shares during the period. Finally, Caxton Associates LLP bought a new position in Pacira BioSciences during the 1st quarter worth approximately $1,286,000. Institutional investors own 99.73% of the company’s stock.

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.