Pacira BioSciences, Inc. (NASDAQ:PCRX) Receives $29.40 Average PT from Analysts

Pacira BioSciences, Inc. (NASDAQ:PCRX) has been assigned an average rating of “Hold” from the seven analysts that are presently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $29.40.

PCRX has been the topic of a number of research analyst reports. Barclays reduced their target price on Pacira BioSciences from $27.00 to $25.00 and set an “equal weight” rating on the stock in a report on Thursday, March 26th. Needham & Company LLC lifted their price target on Pacira BioSciences from $30.00 to $32.00 and gave the company a “buy” rating in a research report on Friday, May 1st. Zacks Research raised Pacira BioSciences from a “strong sell” rating to a “hold” rating in a research note on Tuesday, April 7th. Royal Bank Of Canada increased their price objective on Pacira BioSciences from $22.00 to $24.00 and gave the stock a “sector perform” rating in a report on Friday, May 1st. Finally, Weiss Ratings upgraded shares of Pacira BioSciences from a “sell (d)” rating to a “sell (d+)” rating in a report on Wednesday, May 20th.

Insider Transactions at Pacira BioSciences

In related news, CFO Shawn Cross sold 12,941 shares of the business’s stock in a transaction dated Thursday, April 23rd. The shares were sold at an average price of $25.16, for a total transaction of $325,595.56. Following the sale, the chief financial officer owned 105,341 shares of the company’s stock, valued at $2,650,379.56. The trade was a 10.94% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Lauren Riker sold 6,115 shares of the firm’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 transaction of $143,702.50. Following the transaction, the senior vice president directly owned 62,284 shares of the company’s stock, valued at $1,463,674. This represents a 8.94% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 31,115 shares of company stock valued at $771,896. 6.40% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Pacira BioSciences

Hedge funds have recently added to or reduced their stakes in the stock. Northwestern Mutual Wealth Management Co. boosted its stake 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 worth $39,000 after purchasing an additional 1,475 shares in the last quarter. Meeder Asset Management Inc. bought a new stake in Pacira BioSciences during the 1st quarter valued at about $46,000. Kestra Advisory Services LLC purchased a new position in Pacira BioSciences in the fourth quarter worth about $48,000. Eurizon Capital SGR S.p.A. purchased a new position in Pacira BioSciences in the fourth quarter worth about $51,000. Finally, Global Retirement Partners LLC lifted its stake in shares of Pacira BioSciences by 479.4% in the fourth quarter. Global Retirement Partners LLC now owns 2,028 shares of the company’s stock worth $52,000 after buying an additional 1,678 shares in the last quarter. 99.73% of the stock is owned by institutional investors.

Pacira BioSciences Stock Performance

Shares of PCRX stock opened at $25.39 on Friday. The firm has a market capitalization of $999.10 million, a price-to-earnings ratio of 211.60 and a beta of 0.27. The stock has a fifty day moving average of $23.65 and a 200 day moving average of $23.24. Pacira BioSciences has a 52 week low of $18.80 and a 52 week high of $27.64. The company has a quick ratio of 3.35, a current ratio of 4.73 and a debt-to-equity ratio of 0.56.

Pacira BioSciences (NASDAQ:PCRX) last announced its quarterly earnings results on Thursday, April 30th. The company reported $0.60 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.61 by ($0.01). Pacira BioSciences had a net margin of 0.70% and a return on equity of 10.24%. The company had revenue of $177.38 million for the quarter, compared to analysts’ expectations of $171.80 million. During the same quarter in the prior year, the firm earned $0.65 EPS. Pacira BioSciences’s quarterly revenue was up 5.0% compared to the same quarter last year. As a group, research analysts expect that Pacira BioSciences will post 1.94 earnings per share for the current year.

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.