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

Pacira Biosciences (NASDAQ:PCRX) was downgraded by equities researchers at BidaskClub from a “hold” rating to a “sell” rating in a report released on Tuesday, BidAskClub reports.

PCRX has been the topic of several other research reports. Barclays raised their price target on shares of Pacira Biosciences from $52.00 to $55.00 and gave the stock an “overweight” rating in a research note on Friday, November 8th. Zacks Investment Research downgraded shares of Pacira Biosciences from a “strong-buy” rating to a “hold” rating and set a $47.00 target price on the stock. in a research note on Wednesday, January 8th. Needham & Company LLC reaffirmed a “buy” rating and set a $56.00 target price on shares of Pacira Biosciences in a research report on Thursday, November 7th. Wedbush reaffirmed a “buy” rating and set a $85.00 price target on shares of Pacira Biosciences in a research note on Tuesday, January 7th. Finally, Royal Bank of Canada reaffirmed a “buy” rating on shares of Pacira Biosciences in a research note on Wednesday, December 18th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $52.55.

Pacira Biosciences stock traded up $1.48 during mid-day trading on Tuesday, hitting $43.98. The company’s stock had a trading volume of 7,225 shares, compared to its average volume of 447,925. The company has a 50 day moving average of $45.08 and a 200-day moving average of $41.47. The stock has a market cap of $1.81 billion, a PE ratio of 151.76, a P/E/G ratio of 1.09 and a beta of 1.16. The company has a debt-to-equity ratio of 0.98, a quick ratio of 3.32 and a current ratio of 3.95. Pacira Biosciences has a one year low of $34.64 and a one year high of $49.50.

Pacira Biosciences (NASDAQ:PCRX) last released its earnings results on Thursday, November 7th. The company reported $0.48 earnings per share for the quarter, topping the consensus estimate of $0.13 by $0.35. The business had revenue of $104.69 million during the quarter, compared to the consensus estimate of $104.88 million. Pacira Biosciences had a return on equity of 10.19% and a net margin of 0.55%. The business’s revenue for the quarter was up 25.5% compared to the same quarter last year. During the same period last year, the company earned $0.31 earnings per share. On average, equities research analysts forecast that Pacira Biosciences will post 0.71 EPS for the current fiscal year.

In other Pacira Biosciences news, insider Dennis Mcloughlin sold 3,671 shares of Pacira Biosciences stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $45.79, for a total value of $168,095.09. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Lauren Bullaro Riker sold 5,000 shares of Pacira Biosciences stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $43.59, for a total value of $217,950.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 81,147 shares of company stock valued at $3,610,823. Corporate insiders own 5.80% of the company’s stock.

Several large investors have recently added to or reduced their stakes in the company. State of Alaska Department of Revenue grew its position in shares of Pacira Biosciences by 2.6% in the 4th quarter. State of Alaska Department of Revenue now owns 31,512 shares of the company’s stock worth $1,427,000 after buying an additional 812 shares during the last quarter. Maverick Capital Ltd. acquired a new stake in Pacira Biosciences in the third quarter valued at approximately $6,563,000. Man Group plc boosted its stake in Pacira Biosciences by 63.6% in the third quarter. Man Group plc now owns 29,446 shares of the company’s stock valued at $1,121,000 after acquiring an additional 11,446 shares in the last quarter. California State Teachers Retirement System grew its holdings in Pacira Biosciences by 1.2% in the third quarter. California State Teachers Retirement System now owns 63,196 shares of the company’s stock worth $2,406,000 after purchasing an additional 755 shares during the last quarter. Finally, Pictet Asset Management Ltd. grew its holdings in Pacira Biosciences by 10.0% in the third quarter. Pictet Asset Management Ltd. now owns 276,950 shares of the company’s stock worth $10,543,000 after purchasing an additional 25,200 shares during the last quarter.

About Pacira Biosciences

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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Analyst Recommendations for Pacira Biosciences (NASDAQ:PCRX)

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