Pacira Biosciences (NASDAQ:PCRX) Price Target Raised to $58.00

Pacira Biosciences (NASDAQ:PCRX) had its price target upped by SVB Leerink from $45.00 to $58.00 in a report released on Tuesday morning, The Fly reports. The firm currently has an outperform rating on the stock.

Other research analysts have also issued reports about the stock. Zacks Investment Research lowered shares of Pacira Biosciences from a buy rating to a hold rating and set a $38.00 price objective on the stock. in a research note on Friday, March 27th. Royal Bank of Canada reissued a buy rating and issued a $56.00 target price on shares of Pacira Biosciences in a report on Wednesday, May 13th. Wedbush reaffirmed a buy rating and issued a $85.00 price objective on shares of Pacira Biosciences in a research note on Tuesday, May 12th. Guggenheim began coverage on Pacira Biosciences in a report on Tuesday, May 26th. They set a neutral rating on the stock. Finally, TheStreet upgraded shares of Pacira Biosciences from a d+ rating to a c- rating in a research report on Monday, May 11th. Eight investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. The company presently has an average rating of Buy and an average price target of $54.53.

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. Pacira Biosciences has a 1-year low of $27.46 and a 1-year high of $53.05. The firm has a market cap of $1.86 billion, a price-to-earnings ratio of -2,622.19, a PEG ratio of 2.22 and a beta of 1.31. The company has a current ratio of 5.37, a quick ratio of 4.63 and a debt-to-equity ratio of 0.94.

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

In related news, SVP Charles Anthony Laranjeira sold 863 shares of Pacira Biosciences stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $46.33, for a total value of $39,982.79. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Lauren Bullaro Riker sold 2,000 shares of the company’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 sale, the vice president now owns 12,464 shares of the company’s stock, valued at approximately $533,583.84. The disclosure for this sale can be found here. In the last three months, insiders sold 43,083 shares of company stock valued at $2,019,772. 6.20% of the stock is owned by insiders.

Several institutional investors have recently added to or reduced their stakes in the business. Acadian Asset Management LLC bought a new position in shares of Pacira Biosciences in the 1st quarter worth approximately $25,000. C M Bidwell & Associates Ltd. purchased a new stake in Pacira Biosciences during the first quarter valued at approximately $29,000. Quantbot Technologies LP purchased a new position in shares of Pacira Biosciences during the 4th quarter worth $56,000. Toth Financial Advisory Corp purchased a new stake in shares of Pacira Biosciences in the 1st quarter worth $62,000. Finally, Mutual of America Capital Management LLC raised its holdings in Pacira Biosciences by 21.2% in the 1st quarter. Mutual of America Capital Management LLC now owns 1,844 shares of the company’s stock worth $62,000 after purchasing an additional 323 shares during the period.

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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