Pacira BioSciences (NASDAQ:PCRX) Raised to Hold at Zacks Research

Pacira BioSciences (NASDAQ:PCRX) was upgraded by research analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research note issued on Tuesday, Zacks reports.

Several other equities analysts have also commented on PCRX. HC Wainwright lowered shares of Pacira BioSciences from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $38.00 to $36.50 in a report on Friday, October 9th. Truist Financial downgraded shares of Pacira BioSciences from a “buy” rating to a “hold” rating and lifted their target price for the company from $31.00 to $36.50 in a report on Friday, October 9th. Jefferies Financial Group lowered Pacira BioSciences from a “buy” rating to a “hold” rating and set a $36.00 target price on the stock. in a research report on Thursday, October 8th. Royal Bank Of Canada boosted their target price on Pacira BioSciences from $25.00 to $36.50 and gave the company a “sector perform” rating in a research report on Friday, October 9th. Finally, JPMorgan Chase & Co. upgraded Pacira BioSciences from an “underweight” rating to a “neutral” rating and set a $36.50 price target on the stock in a research note on Thursday, October 8th. One research analyst has rated the stock with a Buy rating and ten have issued a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $33.33.

Pacira BioSciences Stock Up 0.0%

Shares of PCRX opened at $36.40 on Tuesday. The company’s 50-day moving average price is $29.75 and its 200 day moving average price is $25.04. 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. The firm has a market cap of $1.45 billion, a P/E ratio of 104.00 and a beta of 0.21.

Pacira BioSciences (NASDAQ:PCRX) last announced 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. Pacira BioSciences had a net margin of 1.96% and a return on equity of 9.68%. The company had revenue of $192.40 million during the quarter, compared to analyst estimates of $191.06 million. During the same quarter last year, the firm posted $0.74 earnings per share. Pacira BioSciences’s revenue was up 6.2% compared to the same quarter last year. On average, sell-side analysts forecast that Pacira BioSciences will post 1.86 earnings per share for the current year.

Insider Transactions at Pacira BioSciences

In other news, SVP Lauren Riker sold 6,000 shares of the firm’s stock in a transaction that occurred 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 of the company’s stock, valued at approximately $2,262,154.88. This trade represents a 8.79% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, 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 3,040 shares of Pacira BioSciences stock in a transaction that occurred 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 $5,026,600.32. This trade represents 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 owned by corporate insiders.

Institutional Investors Weigh In On Pacira BioSciences

Hedge funds have recently added to or reduced their stakes in the business. Bank of New York Mellon Corp acquired a new position in Pacira BioSciences during the 2nd quarter worth $7,532,000. Bank of America Corp DE purchased a new stake in Pacira BioSciences during the 2nd quarter worth about $6,089,000. Empowered Funds LLC purchased a new stake in Pacira BioSciences during the 2nd quarter worth about $5,076,000. PDT Partners LLC acquired a new stake in Pacira BioSciences in the 2nd quarter valued at about $3,358,000. Finally, Man Group plc acquired a new stake in Pacira BioSciences in the 2nd quarter valued at about $3,181,000. 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 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.