Pacira BioSciences, Inc. (NASDAQ:PCRX) Receives Consensus Recommendation of “Hold” from Analysts

Shares of Pacira BioSciences, Inc. (NASDAQ:PCRX) have been assigned a consensus rating of “Hold” from the nine analysts that are currently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $25.75.

PCRX has been the subject of several analyst reports. Truist Financial raised Pacira BioSciences from a “hold” rating to a “buy” rating and set a $30.00 price objective for the company in a research note on Friday, July 25th. Needham & Company LLC cut their price target on Pacira BioSciences from $32.00 to $30.00 and set a “buy” rating for the company in a research note on Friday, May 9th. Finally, Wall Street Zen upgraded shares of Pacira BioSciences from a “hold” rating to a “buy” rating in a research report on Friday, June 6th.

Pacira BioSciences Stock Down 0.6%

PCRX stock opened at $22.40 on Thursday. The company has a market cap of $1.04 billion, a price-to-earnings ratio of -8.06 and a beta of 0.48. The company has a fifty day moving average price of $23.64 and a 200 day moving average price of $24.56. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.41 and a quick ratio of 1.99. Pacira BioSciences has a 12 month low of $11.16 and a 12 month high of $27.64.

Pacira BioSciences (NASDAQ:PCRX) last announced its earnings results on Tuesday, August 5th. The company reported $0.74 EPS for the quarter, beating analysts’ consensus estimates of $0.73 by $0.01. Pacira BioSciences had a negative net margin of 18.08% and a positive return on equity of 13.22%. The business had revenue of $181.10 million during the quarter, compared to analysts’ expectations of $183.11 million. During the same period in the prior year, the company earned $0.96 earnings per share. The business’s revenue was up 1.7% compared to the same quarter last year. Sell-side analysts expect that Pacira BioSciences will post 2.41 earnings per share for the current year.

Insider Buying and Selling at Pacira BioSciences

In other Pacira BioSciences news, SVP Lauren Riker sold 5,578 shares of the firm’s stock in a transaction on Wednesday, June 4th. The stock was sold at an average price of $26.21, for a total value of $146,199.38. Following the completion of the sale, the senior vice president owned 59,564 shares of the company’s stock, valued at approximately $1,561,172.44. This trade represents a 8.56% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 6.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Pacira BioSciences

Large investors have recently made changes to their positions in the stock. Raymond James Financial Inc. purchased a new stake in Pacira BioSciences during the fourth quarter worth about $190,000. LPL Financial LLC acquired a new stake in shares of Pacira BioSciences during the 4th quarter valued at approximately $251,000. Norges Bank acquired a new stake in shares of Pacira BioSciences during the 4th quarter valued at approximately $2,405,000. Wellington Management Group LLP boosted its stake in shares of Pacira BioSciences by 3.4% during the 4th quarter. Wellington Management Group LLP now owns 470,191 shares of the company’s stock worth $8,858,000 after acquiring an additional 15,542 shares in the last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of Pacira BioSciences by 0.5% in the 4th quarter. Geode Capital Management LLC now owns 1,091,970 shares of the company’s stock worth $20,578,000 after acquiring an additional 5,071 shares during the period. Hedge funds and other institutional investors own 99.73% of the company’s stock.

Pacira BioSciences Company Profile

Pacira Biosciences, Inc is a holding company, which engages in the provision of non-opioid pain management and regenerative health solutions to improve patients’ journeys along the neural pain pathway. Its products include EXPAREL, iovera, and DepoFoam. The company was founded in December 2006 and is headquartered in Tampa, FL.