Wall Street Zen Upgrades Pacira BioSciences (NASDAQ:PCRX) to Strong-Buy

Pacira BioSciences (NASDAQ:PCRX) was upgraded by research analysts at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a research note issued to investors on Saturday.

Several other analysts also recently commented on PCRX. Zacks Research raised shares of Pacira BioSciences from a “strong sell” rating to a “hold” rating in a research report on Thursday, August 14th. Weiss Ratings reissued a “sell (d)” rating on shares of Pacira BioSciences in a research note on Wednesday, October 8th. Finally, Truist Financial decreased their price target on shares of Pacira BioSciences from $30.00 to $28.00 and set a “buy” rating for the company in a research note on Friday. Four research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $33.00.

Pacira BioSciences Trading Up 4.5%

Shares of NASDAQ PCRX traded up $0.95 during midday trading on Friday, reaching $22.05. The stock had a trading volume of 1,768,960 shares, compared to its average volume of 756,873. The company’s 50 day moving average price is $24.25 and its 200 day moving average price is $24.45. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.91 and a current ratio of 2.38. Pacira BioSciences has a twelve month low of $16.00 and a twelve month high of $27.64. The firm has a market cap of $990.77 million, a price-to-earnings ratio of -7.93 and a beta of 0.36.

Pacira BioSciences (NASDAQ:PCRX) last released its earnings results on Tuesday, August 5th. The company reported $0.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.73 by $0.01. The business had revenue of $181.10 million for the quarter, compared to analyst estimates of $183.11 million. Pacira BioSciences had a negative net margin of 18.08% and a positive return on equity of 13.29%. Pacira BioSciences’s revenue for the quarter was up 1.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.96 earnings per share. As a group, sell-side analysts expect that Pacira BioSciences will post 2.41 EPS for the current year.

Institutional Trading of Pacira BioSciences

Several institutional investors and hedge funds have recently modified their holdings of the stock. Hantz Financial Services Inc. lifted its stake in Pacira BioSciences by 175.4% during the 3rd quarter. Hantz Financial Services Inc. now owns 1,132 shares of the company’s stock valued at $29,000 after acquiring an additional 721 shares in the last quarter. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Pacira BioSciences in the first quarter valued at about $51,000. Tidemark LLC bought a new position in shares of Pacira BioSciences during the third quarter valued at about $56,000. Brooklyn Investment Group boosted its holdings in Pacira BioSciences by 372.2% during the first quarter. Brooklyn Investment Group now owns 2,238 shares of the company’s stock worth $56,000 after purchasing an additional 1,764 shares during the last quarter. Finally, US Bancorp DE boosted its holdings in Pacira BioSciences by 31.0% during the first quarter. US Bancorp DE now owns 2,270 shares of the company’s stock worth $56,000 after purchasing an additional 537 shares during the last quarter. 99.73% of the stock is owned by hedge funds and other institutional investors.

About Pacira BioSciences

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.