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

Zacks Research upgraded shares of Pacira BioSciences (NASDAQ:PCRX) from a strong sell rating to a hold rating in a research report sent to investors on Tuesday morning,Zacks reports.

Other equities analysts have also issued reports about the stock. Jefferies Financial Group lowered shares of Pacira BioSciences from a “buy” rating to a “hold” rating and set a $36.00 price target on the stock. in a report on Thursday, October 8th. HC Wainwright downgraded shares of Pacira BioSciences from a “buy” rating to a “hold” rating and dropped their price objective for the company from $38.00 to $36.50 in a report on Friday, October 9th. Oppenheimer initiated coverage on Pacira BioSciences in a report on Wednesday, September 23rd. They set an “outperform” rating and a $32.00 target price on the stock. Wall Street Zen raised shares of Pacira BioSciences from a “buy” rating to a “strong-buy” rating in a report on Saturday, September 26th. Finally, JPMorgan Chase & Co. raised Pacira BioSciences from an “underweight” rating to a “neutral” rating and set a $36.50 target price for the company in a research note on Thursday, October 8th. One analyst has rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $33.33.

Pacira BioSciences Stock Performance

PCRX stock opened at $36.40 on Tuesday. Pacira BioSciences has a 1-year low of $18.80 and a 1-year high of $36.67. The company has a debt-to-equity ratio of 0.54, a current ratio of 5.04 and a quick ratio of 3.94. The company has a market capitalization of $1.45 billion, a P/E ratio of 104.00 and a beta of 0.21. The business has a 50-day moving average price of $29.75 and a 200 day moving average price of $25.04.

Pacira BioSciences (NASDAQ:PCRX) last announced its quarterly 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 firm had revenue of $192.40 million during the quarter, compared to analysts’ expectations of $191.06 million. During the same quarter in the prior year, the company earned $0.74 EPS. The company’s revenue was up 6.2% compared to the same quarter last year. As a group, equities research analysts forecast that Pacira BioSciences will post 1.86 EPS for the current fiscal year.

Insider Transactions at Pacira BioSciences

In other Pacira BioSciences news, insider Jonathan Slonin sold 3,040 shares of the firm’s stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $23.23, for a total value of $70,619.20. Following the transaction, the insider directly 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 transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Lauren Riker sold 6,000 shares of Pacira BioSciences stock in a transaction that occurred on Thursday, October 8th. The stock was sold at an average price of $36.32, for a total value of $217,920.00. Following the transaction, the senior vice president owned 62,284 shares in the company, valued at approximately $2,262,154.88. The trade was a 8.79% decrease in their position. 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. 6.40% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Pacira BioSciences

Several large investors have recently modified their holdings of the business. PNC Financial Services Group Inc. boosted its stake in Pacira BioSciences by 15.1% during the first 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 during the period. Allspring Global Investments Holdings LLC increased its position in shares of Pacira BioSciences by 5.6% during the third quarter. Allspring Global Investments Holdings LLC now owns 12,771 shares of the company’s stock worth $319,000 after acquiring an additional 681 shares during the period. China Universal Asset Management Co. Ltd. increased its position in shares of Pacira BioSciences by 16.1% during the third quarter. China Universal Asset Management Co. Ltd. now owns 7,273 shares of the company’s stock worth $187,000 after acquiring an additional 1,011 shares during the period. State of Wyoming increased its position in shares of Pacira BioSciences by 10.2% during the first quarter. State of Wyoming now owns 12,298 shares of the company’s stock worth $278,000 after acquiring an additional 1,143 shares during the period. Finally, Hsbc Holdings PLC increased its position in shares of Pacira BioSciences by 7.7% during the fourth quarter. Hsbc Holdings PLC now owns 18,416 shares of the company’s stock worth $479,000 after acquiring an additional 1,316 shares during the period. Institutional investors and hedge funds own 99.73% of the company’s stock.

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.