Pacira Biosciences (NASDAQ:PCRX) Rating Lowered to Strong Sell at BidaskClub

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BidaskClub lowered shares of Pacira Biosciences (NASDAQ:PCRX) from a sell rating to a strong sell rating in a research report report published on Saturday, BidAskClub reports.

Other equities research analysts also recently issued reports about the company. Stifel Nicolaus set a $42.00 target price on Pacira Biosciences and gave the stock a hold rating in a report on Friday, August 9th. Barclays started coverage on Pacira Biosciences in a report on Tuesday, June 11th. They set an overweight rating and a $52.00 price target on the stock. Wedbush set a $85.00 price target on Pacira Biosciences and gave the stock a buy rating in a report on Friday, June 28th. Zacks Investment Research raised shares of Pacira Biosciences from a sell rating to a hold rating and set a $47.00 price objective for the company in a research report on Friday, August 2nd. Finally, BMO Capital Markets lowered their price objective on shares of Pacira Biosciences from $46.00 to $43.00 and set a market perform rating for the company in a research note on Friday, August 9th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and eight have given a buy rating to the company. The stock currently has an average rating of Hold and an average target price of $54.13.

Shares of PCRX opened at $36.74 on Friday. The company has a current ratio of 4.75, a quick ratio of 4.12 and a debt-to-equity ratio of 0.99. The firm’s fifty day simple moving average is $39.72 and its two-hundred day simple moving average is $41.03. Pacira Biosciences has a 12 month low of $34.64 and a 12 month high of $55.00. The stock has a market capitalization of $1.49 billion, a P/E ratio of 126.69, a price-to-earnings-growth ratio of 1.61 and a beta of 1.13.

Pacira Biosciences (NASDAQ:PCRX) last posted its quarterly earnings data on Thursday, August 8th. The company reported $0.41 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.14 by $0.27. The firm had revenue of $102.60 million during the quarter, compared to analyst estimates of $99.92 million. Pacira Biosciences had a return on equity of 8.62% and a net margin of 2.04%. The business’s quarterly revenue was up 22.0% on a year-over-year basis. During the same period last year, the company posted $0.24 EPS. As a group, research analysts predict that Pacira Biosciences will post 0.66 EPS for the current fiscal year.

In other Pacira Biosciences news, insider Kristen Marie Williams sold 6,252 shares of the business’s stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $39.49, for a total transaction of $246,891.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO David M. Stack sold 13,115 shares of the company’s stock in a transaction on Monday, July 8th. The stock was sold at an average price of $42.88, for a total transaction of $562,371.20. The disclosure for this sale can be found here. Insiders sold 32,216 shares of company stock valued at $1,312,301 in the last three months. Insiders own 5.80% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Atria Investments LLC bought a new position in Pacira Biosciences in the 2nd quarter valued at about $209,000. Paulson & CO. Inc. raised its holdings in shares of Pacira Biosciences by 283.6% in the second quarter. Paulson & CO. Inc. now owns 958,997 shares of the company’s stock valued at $41,707,000 after purchasing an additional 708,997 shares during the last quarter. Royal Bank of Canada raised its holdings in shares of Pacira Biosciences by 67.9% in the second quarter. Royal Bank of Canada now owns 28,888 shares of the company’s stock valued at $1,257,000 after purchasing an additional 11,682 shares during the last quarter. HM Payson & Co. bought a new position in shares of Pacira Biosciences during the second quarter valued at about $39,000. Finally, Pictet Asset Management Ltd. lifted its position in shares of Pacira Biosciences by 31.1% during the second quarter. Pictet Asset Management Ltd. now owns 251,750 shares of the company’s stock valued at $10,949,000 after purchasing an additional 59,750 shares in the last quarter.

Pacira Biosciences Company Profile

Pacira BioSciences, Inc provides non-opioid pain management and regenerative health solutions for health care practitioners and their patients in the United States. The company develops products based on its proprietary DepoFoam product delivery technology that encapsulates drugs without altering their molecular structure.

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