Pacira BioSciences (NASDAQ:PCRX) Issues Quarterly Earnings Results

Pacira BioSciences (NASDAQ:PCRX) posted its quarterly earnings data on Thursday. The company reported $0.70 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.03), FiscalAI reports. The firm had revenue of $176.65 million during the quarter, compared to analysts’ expectations of $182.87 million. Pacira BioSciences had a return on equity of 9.68% and a net margin of 1.96%.

Pacira BioSciences Stock Up 0.0%

NASDAQ:PCRX traded up $0.01 during trading hours on Friday, reaching $36.43. 537,093 shares of the company traded hands, compared to its average volume of 2,693,118. The company has a current ratio of 5.04, a quick ratio of 3.94 and a debt-to-equity ratio of 0.54. The business’s 50-day moving average price is $30.17 and its two-hundred day moving average price is $25.21. Pacira BioSciences has a 1 year low of $18.80 and a 1 year high of $36.67. The stock has a market capitalization of $1.45 billion, a P/E ratio of 23.33 and a beta of 0.21.

Analyst Ratings Changes

PCRX has been the subject of a number of analyst reports. Leerink Partners initiated coverage on Pacira BioSciences in a research note on Wednesday, September 9th. They set a “market perform” rating and a $28.00 price objective for the company. Truist Financial lowered shares of Pacira BioSciences from a “buy” rating to a “hold” rating and raised their price target for the stock from $31.00 to $36.50 in a report on Friday, October 9th. Zacks Research upgraded shares of Pacira BioSciences from a “strong sell” rating to a “hold” rating in a research report on Tuesday. Weiss Ratings raised shares of Pacira BioSciences from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday, October 8th. Finally, Royal Bank Of Canada increased their target price on shares of Pacira BioSciences from $25.00 to $36.50 and gave the stock a “sector perform” rating in a report on Friday, October 9th. One analyst has rated the stock with a Buy rating and ten have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $33.33.

Insider Transactions at Pacira BioSciences

In related news, insider Jonathan Slonin sold 3,040 shares of the business’s stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $23.23, for a total value of $70,619.20. Following the completion of the transaction, the insider directly owned 216,384 shares in the company, valued at $5,026,600.32. The trade was a 1.39% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Lauren Riker sold 6,000 shares of the business’s stock in a transaction on Thursday, October 8th. The stock was sold at an average price of $36.32, for a total value of $217,920.00. Following the completion of the transaction, the senior vice president owned 62,284 shares of the company’s stock, valued at $2,262,154.88. This represents a 8.79% 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. 6.40% of the stock is currently owned by company insiders.

Pacira BioSciences Company Profile

Pacira BioSciences, Inc is a specialty pharmaceutical company focused on developing and commercializing non-opioid pain-management and regenerative health solutions. The company’s products are designed to address acute postsurgical pain and osteoarthritis-related pain while supporting efforts to reduce reliance on opioid medications.

Pacira’s lead product is EXPAREL, an extended-release formulation of bupivacaine administered by injection for postsurgical pain management. The company also markets ZILRETTA, an extended-release corticosteroid injection indicated for osteoarthritis knee pain, and iovera°, a cryoanalgesia system that uses controlled cooling to temporarily block peripheral nerves and relieve pain.

Formerly known as Pacira Pharmaceuticals, the company adopted the Pacira BioSciences name to reflect its broader focus on innovative pain and regenerative-health therapies.