Pacira BioSciences (NASDAQ:PCRX) Stock Rating Lowered by Wall Street Zen

Pacira BioSciences (NASDAQ:PCRX) was downgraded by equities researchers at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a research report issued on Sunday.

A number of other equities research analysts have also issued reports on PCRX. Royal Bank Of Canada upped their price objective on shares of Pacira BioSciences from $24.00 to $25.00 and gave the company a “sector perform” rating in a report on Wednesday, August 5th. Needham & Company LLC lifted their target price on shares of Pacira BioSciences from $32.00 to $33.00 and gave the stock a “buy” rating in a research note on Wednesday, August 5th. Weiss Ratings upgraded shares of Pacira BioSciences from a “sell (d)” rating to a “sell (d+)” rating in a report on Wednesday, May 20th. Finally, HC Wainwright reiterated a “buy” rating and issued a $38.00 target price on shares of Pacira BioSciences in a report 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. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $30.20.

Pacira BioSciences Stock Performance

Shares of Pacira BioSciences stock opened at $23.24 on Friday. The business’s 50 day moving average price is $24.81 and its 200 day moving average price is $23.58. The company has a market cap of $926.39 million, a price-to-earnings ratio of 66.40 and a beta of 0.27. The company has a debt-to-equity ratio of 0.54, a quick ratio of 3.94 and a current ratio of 5.04. Pacira BioSciences has a one year low of $18.80 and a one year high of $27.66.

Pacira BioSciences (NASDAQ:PCRX) last issued its earnings results on Tuesday, August 4th. The company reported $0.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.08. Pacira BioSciences had a return on equity of 9.68% and a net margin of 1.96%.The company had revenue of $192.40 million during the quarter, compared to analysts’ expectations of $191.06 million. During the same period in the prior year, the business earned $0.74 EPS. The firm’s quarterly revenue was up 6.2% on a year-over-year basis. On average, research analysts predict that Pacira BioSciences will post 1.98 EPS for the current year.

Insider Buying and Selling

In other Pacira BioSciences news, SVP Lauren Riker sold 6,115 shares of Pacira BioSciences stock in a transaction 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 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 ownership of the stock. The transaction 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 corporate insiders.

Hedge Funds Weigh In On Pacira BioSciences

Hedge funds have recently modified their holdings of the business. Northwestern Mutual Wealth Management Co. increased its position in shares of Pacira BioSciences by 5,900.0% during 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 during the last quarter. Meeder Asset Management Inc. acquired a new position in Pacira BioSciences in the first quarter valued at about $46,000. Kestra Advisory Services LLC purchased a new position in Pacira BioSciences during the fourth quarter worth about $48,000. Eurizon Capital SGR S.p.A. purchased a new position in Pacira BioSciences during the fourth quarter worth about $51,000. Finally, Global Retirement Partners LLC acquired a new stake in shares of Pacira BioSciences during the second quarter valued at about $51,000. 99.73% of the stock is currently owned by hedge funds and other institutional investors.

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.