Pacira BioSciences (NASDAQ:PCRX) Stock Gets Price Target Increase from Truist Financial

Pacira BioSciences (NASDAQ:PCRX) had its price objective upped by investment analysts at Truist Financial from $30.00 to $31.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm presently has a “buy” rating on the stock. Truist Financial’s price target would indicate a potential upside of 20.93% from the company’s previous close.

A number of other research firms have also recently issued reports on PCRX. Weiss Ratings cut shares of Pacira BioSciences from a “hold (c-)” rating to a “sell (d+)” rating in a report on Wednesday, September 16th. Royal Bank Of Canada lifted their price objective on Pacira BioSciences from $24.00 to $25.00 and gave the stock a “sector perform” rating in a research note on Wednesday, August 5th. HC Wainwright reissued a “buy” rating and set a $38.00 price objective on shares of Pacira BioSciences in a research report on Wednesday, July 1st. Needham & Company LLC increased their target price on Pacira BioSciences from $32.00 to $33.00 and gave the company a “buy” rating in a research note on Wednesday, August 5th. Finally, Leerink Partners assumed coverage on Pacira BioSciences in a report on Wednesday, September 9th. They issued a “market perform” rating and a $28.00 target price on the stock. Four equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $30.29.

Pacira BioSciences Stock Performance

Shares of Pacira BioSciences stock traded up $0.87 on Wednesday, reaching $25.63. The stock had a trading volume of 248,669 shares, compared to its average volume of 662,783. The company has a debt-to-equity ratio of 0.54, a quick ratio of 3.94 and a current ratio of 5.04. The business’s 50-day moving average price is $25.20 and its two-hundred day moving average price is $24.39. The stock has a market cap of $1.02 billion, a P/E ratio of 73.14 and a beta of 0.25. Pacira BioSciences has a fifty-two week low of $18.80 and a fifty-two week high of $27.66.

Pacira BioSciences (NASDAQ:PCRX) last posted its earnings results on Tuesday, August 4th. The company reported $0.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.65 by $0.08. The business had revenue of $192.40 million for the quarter, compared to analyst estimates of $191.06 million. Pacira BioSciences had a net margin of 1.96% and a return on equity of 9.68%. Pacira BioSciences’s revenue was up 6.2% compared to the same quarter last year. During the same period last year, the business posted $0.74 EPS. On average, sell-side analysts forecast that Pacira BioSciences will post 1.91 EPS for the current year.

Insiders Place Their Bets

In other Pacira BioSciences news, insider Jonathan Slonin sold 3,040 shares of the firm’s stock in a transaction on Monday, August 17th. The shares were sold at an average price of $23.23, for a total value of $70,619.20. Following the sale, the insider directly owned 216,384 shares in the company, valued at $5,026,600.32. This trade represents a 1.39% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 6.40% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. PNC Financial Services Group Inc. increased its stake in shares of Pacira BioSciences by 15.1% during the 1st quarter. PNC Financial Services Group Inc. now owns 3,751 shares of the company’s stock worth $85,000 after purchasing an additional 492 shares during the last quarter. State of Wyoming lifted its stake in Pacira BioSciences by 7.0% in the 4th quarter. State of Wyoming now owns 11,155 shares of the company’s stock valued at $289,000 after purchasing an additional 728 shares during the last quarter. Allspring Global Investments Holdings LLC grew its holdings in Pacira BioSciences by 10.8% during the first quarter. Allspring Global Investments Holdings LLC now owns 11,746 shares of the company’s stock worth $268,000 after purchasing an additional 1,142 shares during the period. Hsbc Holdings PLC increased its position in Pacira BioSciences by 7.7% during the fourth quarter. Hsbc Holdings PLC now owns 18,416 shares of the company’s stock worth $479,000 after buying an additional 1,316 shares during the last quarter. Finally, Global Retirement Partners LLC bought a new stake in Pacira BioSciences in the second quarter valued at approximately $51,000. Institutional investors and hedge funds own 99.73% of the company’s stock.

Pacira BioSciences News Roundup

Here are the key news stories impacting Pacira BioSciences this week:

• Positive Sentiment: European expansion through Molteni: Pacira granted Molteni Farmaceutici exclusive rights to commercialize EXPAREL in the European Union and the United Kingdom. The agreement expands the product’s international reach and could create an additional long-term revenue channel, although financial terms were not disclosed. Pacira Announces Exclusive Agreement with Molteni Farmaceutici to Commercialize EXPAREL in the European Union and United Kingdom
• Positive Sentiment: Analyst target remains above the market price: A report cited a consensus target price of $30.14, implying potential upside from the stock’s current level. Target prices are estimates and may change as analysts reassess the company. Pacira BioSciences Consensus Target Price
• Neutral Sentiment: Caregiver survey highlights demand for pain-management education: Pacira and Caregiver Action Network reported that families want earlier education, clearer pain-management plans and more information about non-opioid options before surgery. The findings support Pacira’s non-opioid pain-treatment positioning but do not represent a new financial forecast or product approval. Pacira and Caregiver Action Network Survey
• Negative Sentiment: Zacks downgraded PCRX from “Hold” to “Strong Sell.” The downgrade is likely weighing on sentiment and may offset optimism surrounding the Molteni partnership, particularly because Pacira’s valuation remains elevated relative to its modest net margin. Zacks Research Downgrades Pacira BioSciences to Strong Sell

About Pacira BioSciences

Pacira BioSciences, Inc is a specialty pharmaceutical company focused on developing and commercializing non-opioid pain-management products. The company’s portfolio is designed to help manage acute and chronic pain while reducing reliance on traditional opioid therapies.

Its principal product is EXPAREL, an extended-release formulation of bupivacaine used to provide postsurgical pain relief. Pacira also markets ZILRETTA, an extended-release corticosteroid injection for osteoarthritis-related knee pain, and the iovera° system, a handheld cryoanalgesia device intended to temporarily block peripheral nerves and provide targeted pain relief.

Originally known as Pacira Pharmaceuticals, the company adopted the name Pacira BioSciences in 2018 to reflect its broader focus on innovative therapies and technologies.