Pacira BioSciences (NASDAQ:PCRX) Price Target Raised to $33.00

Pacira BioSciences (NASDAQ:PCRX) had its price objective increased by Needham & Company LLC from $32.00 to $33.00 in a research note issued to investors on Wednesday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

PCRX has been the subject of a number of other research reports. Zacks Research raised shares of Pacira BioSciences from a “strong sell” rating to a “hold” rating in a research note on Tuesday, April 7th. Weiss Ratings raised shares of Pacira BioSciences from a “sell (d)” rating to a “sell (d+)” rating in a research note on Wednesday, May 20th. HC Wainwright reiterated a “buy” rating and set a $38.00 price objective on shares of Pacira BioSciences in a research note on Wednesday, July 1st. Finally, Royal Bank Of Canada increased their target price on Pacira BioSciences from $22.00 to $24.00 and gave the company a “sector perform” rating in a report on Friday, May 1st. Three analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $29.80.

Pacira BioSciences Price Performance

Pacira BioSciences stock opened at $25.02 on Wednesday. The company’s fifty day moving average price is $24.69 and its 200 day moving average price is $23.40. Pacira BioSciences has a 1 year low of $18.80 and a 1 year high of $27.66. The stock has a market capitalization of $997.30 million, a P/E ratio of 71.49 and a beta of 0.27. The company has a debt-to-equity ratio of 0.54, a quick ratio of 3.35 and a current ratio of 5.04.

Pacira BioSciences (NASDAQ:PCRX) last posted its quarterly earnings data on Tuesday, August 4th. The company reported $0.73 earnings per share for the quarter, topping analysts’ consensus estimates of $0.65 by $0.08. The company had revenue of $192.40 million during the quarter, compared to analysts’ expectations of $191.06 million. Pacira BioSciences had a net margin of 1.96% and a return on equity of 9.68%. The firm’s revenue for the quarter was up 6.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.74 earnings per share. As a group, equities research analysts anticipate that Pacira BioSciences will post 1.94 earnings per share for the current fiscal year.

Insider Activity

In other news, SVP Lauren Riker sold 6,115 shares of the stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $23.50, for a total value of $143,702.50. Following the completion of the sale, the senior vice president directly owned 62,284 shares in the company, valued at $1,463,674. This represents a 8.94% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 6.40% of the stock is owned by insiders.

Institutional Trading of Pacira BioSciences

Hedge funds have recently bought and sold shares of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Pacira BioSciences by 4.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 27,242 shares of the company’s stock worth $677,000 after purchasing an additional 1,165 shares during the last quarter. Goldman Sachs Group Inc. lifted its position in Pacira BioSciences by 49.9% during the first quarter. Goldman Sachs Group Inc. now owns 1,104,796 shares of the company’s stock worth $27,454,000 after buying an additional 367,869 shares in the last quarter. Strs Ohio acquired a new position in Pacira BioSciences during the first quarter worth $75,000. Marshall Wace LLP purchased a new stake in Pacira BioSciences in the 2nd quarter valued at $4,550,000. Finally, Sei Investments Co. increased its stake in shares of Pacira BioSciences by 35.3% in the 2nd quarter. Sei Investments Co. now owns 25,357 shares of the company’s stock worth $606,000 after acquiring an additional 6,609 shares during the last quarter. Institutional investors and hedge funds own 99.73% of the company’s stock.

About Pacira BioSciences

Pacira BioSciences, Inc is a specialty pharmaceutical company focused on developing and commercializing non-opioid, non-addictive pain management and regenerative health solutions. The company’s flagship product, EXPAREL, is a bupivacaine liposome injectable suspension designed to provide long-lasting postsurgical analgesia. EXPAREL is used by clinicians across a broad range of surgical procedures to reduce reliance on opioid medications and to help manage acute postoperative pain.

In addition to its marketed offering, Pacira maintains an active pipeline of investigational products aimed at addressing unmet needs in pain management and inflammation control.