Pacira BioSciences (NASDAQ:PCRX) Downgraded by Truist Financial to “Hold”

Pacira BioSciences (NASDAQ:PCRX) was downgraded by investment analysts at Truist Financial from a “buy” rating to a “hold” rating in a research note issued on Friday, Marketbeat.com reports. They presently have a $36.50 price objective on the stock, up from their prior price objective of $31.00. Truist Financial’s target price indicates a potential upside of 0.52% from the stock’s previous close.

Several other analysts have also weighed in on the company. Oppenheimer assumed coverage on Pacira BioSciences in a report on Wednesday, September 23rd. They issued an “outperform” rating and a $32.00 price objective for the company. JPMorgan Chase & Co. upgraded Pacira BioSciences from an “underweight” rating to a “neutral” rating and set a $36.50 price target for the company in a report on Thursday. Leerink Partners began coverage on Pacira BioSciences in a research note on Wednesday, September 9th. They set a “market perform” rating and a $28.00 price objective on the stock. Weiss Ratings cut shares of Pacira BioSciences from a “hold (c-)” rating to a “sell (d+)” rating in a report on Wednesday, September 16th. Finally, HC Wainwright lowered shares of Pacira BioSciences from a “buy” rating to a “hold” rating and decreased their price target for the company from $38.00 to $36.50 in a report on Friday. One investment analyst has rated the stock with a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $33.33.

Pacira BioSciences Stock Down 0.2%

PCRX stock traded down $0.08 during mid-day trading on Friday, hitting $36.31. 4,689,955 shares of the company were exchanged, compared to its average volume of 1,974,222. The company has a market capitalization of $1.45 billion, a PE ratio of 103.75 and a beta of 0.25. 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 has a twelve month low of $18.80 and a twelve month high of $36.46. The firm has a fifty day simple moving average of $25.56 and a 200 day simple moving average of $24.59.

Pacira BioSciences (NASDAQ:PCRX) last released its earnings results on Tuesday, August 4th. The company reported $0.73 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.08. The company 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% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.74 EPS. On average, research analysts forecast that Pacira BioSciences will post 1.86 earnings per share for the current fiscal year.

Insider Buying and Selling at Pacira BioSciences

In related news, insider Jonathan Slonin sold 3,040 shares of the stock in a transaction dated 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 owned 216,384 shares in the company, valued at $5,026,600.32. This represents a 1.39% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 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 dated Thursday, October 8th. The stock was sold at an average price of $36.32, for a total transaction of $217,920.00. Following the sale, the senior vice president owned 62,284 shares in the company, valued at $2,262,154.88. This trade represents a 8.79% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 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

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PCRX. PNC Financial Services Group Inc. raised its stake in shares of Pacira BioSciences by 15.1% in the 1st quarter. PNC Financial Services Group Inc. now owns 3,751 shares of the company’s stock worth $85,000 after buying an additional 492 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in Pacira BioSciences by 10.8% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 11,746 shares of the company’s stock valued at $268,000 after acquiring an additional 1,142 shares during the last quarter. State of Wyoming boosted its position in shares of Pacira BioSciences by 10.2% during the 1st quarter. State of Wyoming now owns 12,298 shares of the company’s stock valued at $278,000 after purchasing an additional 1,143 shares in the last quarter. Hsbc Holdings PLC grew its stake in shares of Pacira BioSciences by 7.7% in the 4th quarter. Hsbc Holdings PLC now owns 18,416 shares of the company’s stock worth $479,000 after purchasing an additional 1,316 shares during the last quarter. Finally, Global Retirement Partners LLC bought a new stake in shares of Pacira BioSciences in the 2nd quarter worth approximately $51,000. 99.73% of the stock is owned by institutional investors.

Pacira BioSciences News Roundup

Here are the key news stories impacting Pacira BioSciences this week:

• Positive Sentiment: Viatris agreed to buy Pacira for $36.50 per share in cash, valuing the equity at approximately $1.65 billion. The transaction gives shareholders a defined exit price and is expected to close by the end of 2026, subject to customary conditions. Viatris acquisition announcement
• Positive Sentiment: Viatris will add Pacira’s marketed non-opioid pain therapies, EXPAREL and ZILRETTA, along with a clinical-stage gene therapy candidate. Viatris expects the deal to expand its pain portfolio and be immediately accretive to its financial guidance metrics.
• Neutral Sentiment: RBC said a superior competing bid is unlikely, reducing the prospect of a higher offer but also lowering takeover uncertainty. The stock’s upside is therefore largely capped near the $36.50 consideration unless another bidder emerges. RBC superior bid analysis
• Neutral Sentiment: Analyst actions largely reflect the announced deal: JPMorgan upgraded PCRX to neutral, while RBC and Truist raised targets to $36.50 and maintained sector perform or hold ratings. HC Wainwright maintained neutral with a $36.50 target, and Jefferies kept hold with a $36.00 target.
• Negative Sentiment: Several shareholder-rights law firms are investigating whether Pacira’s board obtained fair value and conducted an adequate sale process. These investigations could create legal or procedural distractions, although no wrongdoing has been established. Shareholder investigation

About Pacira BioSciences

Pacira BioSciences, Inc is a specialty pharmaceutical company focused on developing and commercializing non-opioid pain-management products. The company’s portfolio is designed to help manage acute and chronic pain while reducing reliance on traditional opioid therapies.

Its principal product is EXPAREL, an extended-release formulation of bupivacaine used to provide postsurgical pain relief. Pacira also markets ZILRETTA, an extended-release corticosteroid injection for osteoarthritis-related knee pain, and the iovera° system, a handheld cryoanalgesia device intended to temporarily block peripheral nerves and provide targeted pain relief.

Originally known as Pacira Pharmaceuticals, the company adopted the name Pacira BioSciences in 2018 to reflect its broader focus on innovative therapies and technologies.