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

Pacira BioSciences, Inc. (NASDAQ:PCRX) has received an average rating of “Hold” from the seven brokerages that are presently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, three have given a hold recommendation and three have assigned a buy recommendation to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $29.80.

A number of research analysts recently issued reports on the company. Weiss Ratings raised Pacira BioSciences from a “sell (d)” rating to a “sell (d+)” rating in a report on Wednesday, May 20th. HC Wainwright restated a “buy” rating and set a $38.00 price objective on shares of Pacira BioSciences in a research report on Wednesday, July 1st. Wall Street Zen lowered shares of Pacira BioSciences from a “strong-buy” rating to a “buy” rating in a research report on Sunday. Needham & Company LLC lifted their price objective 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. Finally, Royal Bank Of Canada increased their target price on shares of Pacira BioSciences from $24.00 to $25.00 and gave the company a “sector perform” rating in a research note on Wednesday, August 5th.

Pacira BioSciences Price Performance

Shares of PCRX stock opened at $23.00 on Monday. Pacira BioSciences has a 1 year low of $18.80 and a 1 year high of $27.66. The stock has a market cap of $916.78 million, a PE ratio of 65.72 and a beta of 0.27. The business’s fifty day moving average is $24.80 and its 200-day moving average is $23.56. 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 (NASDAQ:PCRX) last posted its quarterly earnings data on Tuesday, August 4th. The company reported $0.73 EPS for the quarter, topping analysts’ consensus estimates of $0.65 by $0.08. The company had revenue of $192.40 million for the quarter, compared to the consensus estimate of $191.06 million. Pacira BioSciences had a return on equity of 9.68% and a net margin of 1.96%.The company’s quarterly revenue was up 6.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.74 EPS. Equities analysts expect that Pacira BioSciences will post 1.98 earnings per share for the current fiscal year.

Insider Activity

In other news, SVP Lauren Riker sold 6,115 shares of the stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $23.50, for a total transaction 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 represents a 8.94% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 6.40% of the company’s stock.

Hedge Funds Weigh In On Pacira BioSciences

Hedge funds have recently modified their holdings of the stock. Northwestern Mutual Wealth Management Co. raised its position in shares of Pacira BioSciences by 5,900.0% during the fourth 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 period. Meeder Asset Management Inc. acquired a new position in shares of Pacira BioSciences in the 1st quarter valued at $46,000. Kestra Advisory Services LLC acquired a new position in shares of Pacira BioSciences in the 4th quarter valued at $48,000. Eurizon Capital SGR S.p.A. purchased a new position in Pacira BioSciences in the 4th quarter worth about $51,000. Finally, Global Retirement Partners LLC purchased a new position in Pacira BioSciences in the 2nd quarter worth about $51,000. 99.73% of the stock is currently owned by institutional investors and hedge funds.

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.