Pacira BioSciences, Inc. (NASDAQ:PCRX) Receives Average Recommendation of “Hold” from Analysts

Pacira BioSciences, Inc. (NASDAQ:PCRX) has earned an average rating of “Hold” from the seven research firms that are currently covering the stock, MarketBeat reports. One analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and three have issued a buy recommendation on the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $29.40.

Several research analysts have recently issued reports on the company. Barclays reduced their price target on Pacira BioSciences from $27.00 to $25.00 and set an “equal weight” rating on the stock in a research report on Thursday, March 26th. Zacks Research upgraded Pacira BioSciences from a “strong sell” rating to a “hold” rating in a research report on Tuesday, April 7th. Royal Bank Of Canada raised their price target on Pacira BioSciences from $22.00 to $24.00 and gave the stock a “sector perform” rating in a research report on Friday, May 1st. Needham & Company LLC raised their price objective on Pacira BioSciences from $30.00 to $32.00 and gave the stock a “buy” rating in a research note on Friday, May 1st. Finally, Wall Street Zen downgraded Pacira BioSciences from a “strong-buy” rating to a “buy” rating in a research note on Saturday, February 28th.

Insider Buying and Selling at Pacira BioSciences

In related news, insider Jonathan Slonin sold 3,261 shares of the firm’s stock in a transaction on Tuesday, March 17th. The stock was sold at an average price of $22.82, for a total transaction of $74,416.02. Following the sale, the insider owned 223,640 shares of the company’s stock, valued at approximately $5,103,464.80. This trade represents a 1.44% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Shawn Cross sold 12,941 shares of the firm’s stock in a transaction on Thursday, April 23rd. The stock was sold at an average price of $25.16, for a total value of $325,595.56. Following the sale, the chief financial officer directly owned 105,341 shares in the company, valued at $2,650,379.56. The trade was a 10.94% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 28,261 shares of company stock worth $702,610 in the last ninety days. 6.40% of the stock is currently owned by company insiders.

Institutional Trading of Pacira BioSciences

Several hedge funds have recently added to or reduced their stakes in the business. State of Wyoming raised its stake in Pacira BioSciences by 10.2% during the 1st quarter. State of Wyoming now owns 12,298 shares of the company’s stock worth $278,000 after buying an additional 1,143 shares during the period. First Trust Advisors LP raised its stake in Pacira BioSciences by 59.2% during the 1st quarter. First Trust Advisors LP now owns 300,632 shares of the company’s stock worth $6,794,000 after buying an additional 111,743 shares during the period. PNC Financial Services Group Inc. raised its stake in shares of Pacira BioSciences by 15.1% in the 1st quarter. PNC Financial Services Group Inc. now owns 3,751 shares of the company’s stock valued at $85,000 after purchasing an additional 492 shares during the period. Meeder Asset Management Inc. acquired a new stake in shares of Pacira BioSciences in the 1st quarter valued at about $46,000. Finally, Dimensional Fund Advisors LP raised its stake in shares of Pacira BioSciences by 5.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,060,597 shares of the company’s stock valued at $46,572,000 after purchasing an additional 110,584 shares during the period. Institutional investors and hedge funds own 99.73% of the company’s stock.

Pacira BioSciences Stock Down 3.8%

NASDAQ:PCRX opened at $22.64 on Friday. Pacira BioSciences has a 12-month low of $18.80 and a 12-month 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. The firm has a market capitalization of $890.88 million, a P/E ratio of 188.68 and a beta of 0.32. The stock’s fifty day simple moving average is $23.43 and its 200-day simple moving average is $23.21.

Pacira BioSciences (NASDAQ:PCRX) last posted 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 return on equity of 10.24% and a net margin of 0.70%.The company had revenue of $177.38 million during the quarter, compared to the consensus estimate of $171.80 million. During the same quarter in the prior year, the business earned $0.65 earnings per share. The firm’s revenue for the quarter was up 5.0% on a year-over-year basis. Equities research analysts expect that Pacira BioSciences will post 1.87 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.