Pacira Biosciences (NASDAQ:PCRX) Price Target Increased to $54.00 by Analysts at Northland Securities

Pacira Biosciences (NASDAQ:PCRX) had its price objective raised by Northland Securities from $50.00 to $54.00 in a research report released on Tuesday, The Fly reports. The brokerage currently has a market perform rating on the stock.

A number of other equities analysts have also weighed in on PCRX. Royal Bank of Canada restated a buy rating and issued a $56.00 target price on shares of Pacira Biosciences in a research note on Wednesday, May 13th. SVB Leerink upped their price objective on shares of Pacira Biosciences from $44.00 to $45.00 and gave the stock a buy rating in a research report on Friday, May 8th. Zacks Investment Research cut shares of Pacira Biosciences from a buy rating to a hold rating and set a $38.00 price target for the company. in a research note on Friday, March 27th. Wedbush reiterated a buy rating and issued a $85.00 price objective on shares of Pacira Biosciences in a report on Tuesday, May 12th. Finally, Piper Sandler reduced their price objective on Pacira Biosciences from $60.00 to $49.00 in a research note on Monday, March 23rd. Eight equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Pacira Biosciences currently has an average rating of Buy and an average target price of $54.53.

Shares of NASDAQ:PCRX opened at $52.47 on Tuesday. The company has a 50 day moving average of $44.57 and a 200 day moving average of $42.08. The company has a current ratio of 5.37, a quick ratio of 4.63 and a debt-to-equity ratio of 0.94. The stock has a market cap of $1.86 billion, a P/E ratio of -2,622.19, a P/E/G ratio of 2.22 and a beta of 1.31. Pacira Biosciences has a 12 month low of $27.46 and a 12 month high of $53.05.

Pacira Biosciences (NASDAQ:PCRX) last released its quarterly earnings results on Thursday, May 7th. The company reported $0.53 EPS for the quarter, beating analysts’ consensus estimates of $0.30 by $0.23. The firm had revenue of $105.68 million during the quarter, compared to analyst estimates of $101.64 million. Pacira Biosciences had a negative net margin of 0.02% and a positive return on equity of 13.89%. The business’s revenue for the quarter was up 15.7% on a year-over-year basis. During the same period in the previous year, the business earned $0.22 EPS. On average, equities analysts forecast that Pacira Biosciences will post 0.95 earnings per share for the current fiscal year.

In other news, VP Lauren Bullaro Riker sold 2,000 shares of the business’s stock in a transaction on Tuesday, May 19th. The shares were sold at an average price of $42.81, for a total value of $85,620.00. Following the transaction, the vice president now owns 12,464 shares of the company’s stock, valued at $533,583.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO David M. Stack sold 17,111 shares of the company’s stock in a transaction on Monday, June 8th. The stock was sold at an average price of $48.12, for a total transaction of $823,381.32. Following the transaction, the chief executive officer now owns 184,020 shares of the company’s stock, valued at approximately $8,855,042.40. The disclosure for this sale can be found here. In the last ninety days, insiders sold 43,083 shares of company stock valued at $2,019,772. Corporate insiders own 6.20% of the company’s stock.

Several large investors have recently bought and sold shares of the stock. Renaissance Technologies LLC grew its holdings in Pacira Biosciences by 47.9% during the 4th quarter. Renaissance Technologies LLC now owns 1,797,338 shares of the company’s stock valued at $81,419,000 after buying an additional 582,238 shares in the last quarter. Baillie Gifford & Co. grew its stake in shares of Pacira Biosciences by 1.8% in the 1st quarter. Baillie Gifford & Co. now owns 1,411,892 shares of the company’s stock worth $47,341,000 after buying an additional 24,447 shares in the last quarter. State Street Corp increased its holdings in shares of Pacira Biosciences by 5.6% in the 1st quarter. State Street Corp now owns 1,403,659 shares of the company’s stock worth $47,065,000 after buying an additional 74,009 shares during the last quarter. Spyglass Capital Management LLC increased its holdings in shares of Pacira Biosciences by 38.9% in the 1st quarter. Spyglass Capital Management LLC now owns 1,190,537 shares of the company’s stock worth $39,919,000 after buying an additional 333,710 shares during the last quarter. Finally, Schroder Investment Management Group lifted its holdings in shares of Pacira Biosciences by 14.9% in the 4th quarter. Schroder Investment Management Group now owns 910,008 shares of the company’s stock valued at $41,223,000 after acquiring an additional 118,291 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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The Fly

Analyst Recommendations for Pacira Biosciences (NASDAQ:PCRX)

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