Pacira BioSciences, Inc. (NASDAQ:PCRX) Stock Has Consensus Price Target of $33.33 According to Brokerages

Shares of Pacira BioSciences, Inc. (NASDAQ:PCRX) have been given a consensus rating of “Hold” by the eleven brokerages that are covering the company, Marketbeat reports. One research analyst has rated the stock with a sell rating, nine have given a hold rating and one has assigned a buy rating to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $33.33.

PCRX has been the subject of a number of recent analyst reports. Needham & Company LLC downgraded Pacira BioSciences from a “buy” rating to a “hold” rating in a report on Thursday, October 8th. Wall Street Zen upgraded Pacira BioSciences from a “buy” rating to a “strong-buy” rating in a report on Saturday, September 26th. HC Wainwright lowered Pacira BioSciences from a “buy” rating to a “hold” rating and cut their target price for the stock from $38.00 to $36.50 in a research report on Friday, October 9th. JPMorgan Chase & Co. raised Pacira BioSciences from an “underweight” rating to a “neutral” rating and set a $36.50 target price on the stock in a research report on Thursday, October 8th. Finally, Leerink Partners started coverage on Pacira BioSciences in a research note on Wednesday, September 9th. They set a “market perform” rating and a $28.00 target price for the company.

Pacira BioSciences Price Performance

Pacira BioSciences stock opened at $36.39 on Friday. The stock has a market cap of $1.45 billion, a P/E ratio of 103.97 and a beta of 0.25. The company has a fifty day simple moving average of $29.06 and a 200-day simple moving average of $24.82. Pacira BioSciences has a 12-month low of $18.80 and a 12-month high of $36.67. The company has a current ratio of 5.04, a quick ratio of 3.94 and a debt-to-equity ratio of 0.54.

Pacira BioSciences (NASDAQ:PCRX) last issued its earnings results on Tuesday, August 4th. The company reported $0.73 EPS 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 the consensus estimate of $191.06 million. Pacira BioSciences had a net margin of 1.96% and a return on equity of 9.68%. The company’s revenue was up 6.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.74 earnings per share. Equities analysts expect that Pacira BioSciences will post 1.86 EPS for the current fiscal year.

Insider Buying and Selling

In other news, SVP Lauren Riker sold 6,000 shares of the company’s stock in a transaction on Thursday, October 8th. The shares were 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 in the company, valued at approximately $2,262,154.88. This represents a 8.79% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Jonathan Slonin sold 3,040 shares of the company’s stock in a transaction on Monday, August 17th. The shares were sold at an average price of $23.23, for a total transaction of $70,619.20. Following the completion of the transaction, the insider owned 216,384 shares of the company’s stock, valued at approximately $5,026,600.32. The trade was a 1.39% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 6.40% of the stock is currently owned by company insiders.

Institutional Trading of Pacira BioSciences

Institutional investors and hedge funds have recently made changes to their positions in the company. Dimensional Fund Advisors LP increased its holdings 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 acquiring an additional 110,584 shares during the period. Wellington Management Group LLP boosted its stake in Pacira BioSciences by 17.8% during the 2nd quarter. Wellington Management Group LLP now owns 563,458 shares of the company’s stock worth $14,295,000 after purchasing an additional 85,075 shares during the period. Bridge City Capital LLC boosted its stake in Pacira BioSciences by 12.9% during the 3rd quarter. Bridge City Capital LLC now owns 352,738 shares of the company’s stock worth $8,836,000 after purchasing an additional 40,441 shares during the period. Bank of New York Mellon Corp acquired a new stake in Pacira BioSciences during the 2nd quarter worth $7,532,000. Finally, Hillsdale Investment Management Inc. grew its position in Pacira BioSciences by 7.5% during the 1st quarter. Hillsdale Investment Management Inc. now owns 331,300 shares of the company’s stock worth $7,487,000 after purchasing an additional 23,100 shares during the last quarter. 99.73% of the stock is owned by hedge funds and other institutional investors.

About Pacira BioSciences

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.