Pacira BioSciences, Inc. (NASDAQ:PCRX) Given Consensus Rating of “Hold” by Analysts

Pacira BioSciences, Inc. (NASDAQ:PCRX) has received a consensus recommendation of “Hold” from the seven brokerages that are currently covering the firm, Marketbeat reports. One research 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 12-month price target among analysts that have issued a report on the stock in the last year is $29.40.

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

Pacira BioSciences Stock Down 0.7%

Shares of PCRX opened at $25.59 on Thursday. Pacira BioSciences has a 52 week low of $18.80 and a 52 week high of $27.64. The firm has a market cap of $1.01 billion, a P/E ratio of 213.27 and a beta of 0.27. The firm’s 50-day simple moving average is $23.98 and its 200 day simple moving average is $23.16. The company has a debt-to-equity ratio of 0.56, a quick ratio of 3.35 and a current ratio of 4.73.

Pacira BioSciences (NASDAQ:PCRX) last released its quarterly earnings results on Thursday, April 30th. The company reported $0.60 earnings per share 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 during the quarter, compared to the consensus estimate of $171.80 million. During the same period in the prior year, the company earned $0.65 earnings per share. The firm’s revenue was up 5.0% compared to the same quarter last year. On average, analysts forecast that Pacira BioSciences will post 1.94 earnings per share for the current year.

Insiders Place Their Bets

In other Pacira BioSciences news, SVP Lauren Riker sold 6,115 shares of Pacira BioSciences stock in a transaction dated 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 in the company, valued at $1,463,674. The trade was a 8.94% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 6.40% of the stock is owned by company insiders.

Institutional Investors Weigh In On Pacira BioSciences

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Impax Asset Management Group plc grew its holdings in shares of Pacira BioSciences by 25.0% during the 4th quarter. Impax Asset Management Group plc now owns 750,027 shares of the company’s stock worth $19,411,000 after purchasing an additional 150,000 shares in the last quarter. Hillsdale Investment Management Inc. acquired a new position in Pacira BioSciences in the fourth quarter valued at about $7,976,000. Hennion & Walsh Asset Management Inc. raised its stake in Pacira BioSciences by 171.4% in the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 138,105 shares of the company’s stock valued at $3,574,000 after purchasing an additional 87,210 shares in the last quarter. Assenagon Asset Management S.A. lifted its position in Pacira BioSciences by 87.3% during the fourth quarter. Assenagon Asset Management S.A. now owns 435,143 shares of the company’s stock worth $11,262,000 after purchasing an additional 202,773 shares during the period. Finally, Gagnon Advisors LLC lifted its position in Pacira BioSciences by 22.3% during the fourth quarter. Gagnon Advisors LLC now owns 260,908 shares of the company’s stock worth $6,752,000 after purchasing an additional 47,506 shares during the period. 99.73% of the stock is currently owned by institutional investors and hedge funds.

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.