Brokerages Set Pacira BioSciences, Inc. (NASDAQ:PCRX) Target Price at $29.40

Pacira BioSciences, Inc. (NASDAQ:PCRX) has received a consensus rating of “Hold” from the seven analysts that are covering the firm, Marketbeat reports. One research 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 twelve-month target price among brokerages that have issued a report on the stock in the last year is $29.40.

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

Insider Activity at Pacira BioSciences

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

Institutional Trading of Pacira BioSciences

Several large investors have recently made changes to their positions in PCRX. Hantz Financial Services Inc. increased its position in shares of Pacira BioSciences by 175.4% during the third quarter. Hantz Financial Services Inc. now owns 1,132 shares of the company’s stock worth $29,000 after purchasing an additional 721 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased 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 in the last quarter. Meeder Asset Management Inc. purchased a new stake in shares of Pacira BioSciences during the first quarter worth approximately $46,000. Kestra Advisory Services LLC purchased a new stake in shares of Pacira BioSciences during the fourth quarter worth approximately $48,000. Finally, Eurizon Capital SGR S.p.A. purchased a new stake in shares of Pacira BioSciences during the fourth quarter worth approximately $51,000. 99.73% of the stock is currently owned by hedge funds and other institutional investors.

Pacira BioSciences Trading Up 0.9%

Shares of PCRX stock opened at $23.04 on Friday. The company has a debt-to-equity ratio of 0.56, a current ratio of 4.73 and a quick ratio of 3.35. The company has a market cap of $906.62 million, a price-to-earnings ratio of 192.02 and a beta of 0.32. The stock has a 50 day simple moving average of $23.41 and a 200-day simple moving average of $23.20. Pacira BioSciences has a 1-year low of $18.80 and a 1-year high of $27.64.

Pacira BioSciences (NASDAQ:PCRX) last announced its earnings results on Thursday, April 30th. The company reported $0.60 earnings per share for the quarter, missing the consensus estimate of $0.61 by ($0.01). The business had revenue of $177.38 million for the quarter, compared to analyst estimates of $171.80 million. Pacira BioSciences had a return on equity of 10.24% and a net margin of 0.70%.The company’s quarterly revenue was up 5.0% compared to the same quarter last year. During the same period in the previous year, the company earned $0.65 earnings per share. On average, equities research analysts expect that Pacira BioSciences will post 1.87 EPS for the current fiscal 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.