Needham & Company LLC Issues Positive Forecast for Pacira BioSciences (NASDAQ:PCRX) Stock Price

Pacira BioSciences (NASDAQ:PCRX) had its target price raised by analysts at Needham & Company LLC from $32.00 to $33.00 in a research note issued on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Needham & Company LLC’s target price suggests a potential upside of 19.48% from the stock’s current price.

Several other research analysts also recently commented on the company. Weiss Ratings upgraded Pacira BioSciences from a “sell (d)” rating to a “sell (d+)” rating in a report on Wednesday, May 20th. Royal Bank Of Canada increased their target price on Pacira BioSciences from $22.00 to $24.00 and gave the company a “sector perform” rating in a report on Friday, May 1st. Zacks Research upgraded Pacira BioSciences from a “strong sell” rating to a “hold” rating in a research report on Tuesday, April 7th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $38.00 price target on shares of Pacira BioSciences in a research note on Wednesday, July 1st. Three research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Pacira BioSciences presently has a consensus rating of “Hold” and a consensus price target of $29.60.

Pacira BioSciences Stock Performance

Shares of NASDAQ PCRX opened at $27.62 on Wednesday. The stock has a market cap of $1.09 billion, a price-to-earnings ratio of 230.19 and a beta of 0.27. The stock’s 50-day moving average is $24.60 and its 200 day moving average is $23.32. The company has a current ratio of 4.73, a quick ratio of 3.35 and a debt-to-equity ratio of 0.56. Pacira BioSciences has a 1-year low of $18.80 and a 1-year high of $27.66.

Pacira BioSciences (NASDAQ:PCRX) last announced its quarterly earnings data on Tuesday, August 4th. The company reported $0.73 earnings per share for the quarter, topping analysts’ consensus estimates of $0.65 by $0.08. Pacira BioSciences had a net margin of 0.70% and a return on equity of 10.24%. The firm had revenue of $192.40 million during the quarter, compared to analyst estimates of $191.06 million. During the same period in the previous year, the business posted $0.74 EPS. The business’s quarterly revenue was up 6.2% on a year-over-year basis. On average, sell-side analysts anticipate that Pacira BioSciences will post 1.94 EPS for the current fiscal year.

Insiders Place Their Bets

In other Pacira BioSciences news, SVP Lauren Riker sold 6,115 shares of the stock in a transaction that occurred 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 completion of the sale, the senior vice president owned 62,284 shares in the company, valued at approximately $1,463,674. This trade represents a 8.94% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 6.40% of the company’s stock.

Hedge Funds Weigh In On Pacira BioSciences

Hedge funds and other institutional investors have recently made changes to their positions in the business. Dimensional Fund Advisors LP boosted its holdings in Pacira BioSciences by 0.5% in the third quarter. Dimensional Fund Advisors LP now owns 2,163,473 shares of the company’s stock valued at $55,751,000 after acquiring an additional 11,831 shares in the last quarter. Balyasny Asset Management L.P. lifted its position in shares of Pacira BioSciences by 36.1% in the 2nd quarter. Balyasny Asset Management L.P. now owns 2,130,733 shares of the company’s stock worth $50,925,000 after purchasing an additional 565,288 shares during the period. Goldman Sachs Group Inc. lifted its position in shares of 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 purchasing an additional 367,869 shares during the period. Impax Asset Management Group plc boosted its stake 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 valued at $19,411,000 after purchasing an additional 150,000 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Pacira BioSciences by 7.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 676,352 shares of the company’s stock valued at $17,504,000 after purchasing an additional 49,079 shares in the last quarter. Institutional investors own 99.73% of the company’s stock.

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.