Pacira BioSciences, Inc. (NASDAQ:PCRX) Given Consensus Recommendation of “Hold” by Brokerages

Pacira BioSciences, Inc. (NASDAQ:PCRX) has earned a consensus recommendation of “Hold” from the eight research firms that are currently covering the stock, Marketbeat reports. Five equities research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 12-month price target among brokers that have covered the stock in the last year is $29.8333.

Several research firms have recently issued reports on PCRX. Royal Bank Of Canada boosted their price target on shares of Pacira BioSciences from $24.00 to $25.00 and gave the company a “sector perform” rating in a research report on Wednesday, August 5th. Truist Financial started coverage on shares of Pacira BioSciences in a report on Monday, August 17th. They issued a “buy” rating and a $30.00 price objective for the company. Weiss Ratings upgraded shares of Pacira BioSciences from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Tuesday, September 1st. Needham & Company LLC boosted their target price on shares of Pacira BioSciences from $32.00 to $33.00 and gave the company a “buy” rating in a report on Wednesday, August 5th. Finally, Wall Street Zen downgraded Pacira BioSciences from a “strong-buy” rating to a “buy” rating in a research report on Sunday, August 16th.

Insider Buying and Selling at Pacira BioSciences

In related news, insider Jonathan Slonin sold 3,040 shares of the business’s stock in a transaction on Monday, August 17th. The stock was sold at an average price of $23.23, for a total transaction of $70,619.20. Following the sale, the insider directly owned 216,384 shares in the company, valued at approximately $5,026,600.32. The trade was a 1.39% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 6.40% of the company’s stock.

Institutional Trading of Pacira BioSciences

A number of institutional investors have recently added to or reduced their stakes in PCRX. Northwestern Mutual Wealth Management Co. boosted its stake in Pacira BioSciences by 5,900.0% in 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 period. Meeder Asset Management Inc. bought a new stake in shares of Pacira BioSciences during the first quarter valued at about $46,000. Kestra Advisory Services LLC bought a new stake in shares of Pacira BioSciences during the fourth quarter valued at about $48,000. Eurizon Capital SGR S.p.A. purchased a new stake in shares of Pacira BioSciences in the fourth quarter worth about $51,000. Finally, Global Retirement Partners LLC purchased a new stake in shares of Pacira BioSciences in the second quarter worth about $51,000. Hedge funds and other institutional investors own 99.73% of the company’s stock.

Pacira BioSciences Trading Down 2.8%

Shares of Pacira BioSciences stock opened at $25.16 on Friday. The stock has a market capitalization of $1.00 billion, a P/E ratio of 71.89 and a beta of 0.26. Pacira BioSciences has a 52-week low of $18.80 and a 52-week high of $27.66. The company has a debt-to-equity ratio of 0.54, a quick ratio of 3.94 and a current ratio of 5.04. The stock’s 50-day simple moving average is $25.48 and its 200 day simple moving average is $24.10.

Pacira BioSciences (NASDAQ:PCRX) last issued its earnings results 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. The firm had revenue of $192.40 million during the quarter, compared to analyst estimates of $191.06 million. Pacira BioSciences had a net margin of 1.96% and a return on equity of 9.68%. The company’s quarterly revenue was up 6.2% on a year-over-year basis. During the same quarter last year, the business earned $0.74 earnings per share. As a group, research analysts anticipate that Pacira BioSciences will post 1.98 EPS for the current year.

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.