Pacira BioSciences, Inc. (NASDAQ:PCRX) Stock Now Rated “Hold” by Sell-Side Brokerages

Shares of Pacira BioSciences, Inc. (NASDAQ:PCRX) have been assigned a consensus rating of “Hold” from the eleven research firms that are currently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, nine have given a hold recommendation and one has issued a buy recommendation on the company. The average 12-month target price among analysts that have covered the stock in the last year is $33.33.

A number of equities research analysts have recently commented on PCRX shares. Leerink Partners assumed coverage on Pacira BioSciences in a research report on Wednesday, September 9th. They issued a “market perform” rating and a $28.00 price objective for the company. Truist Financial lowered Pacira BioSciences from a “buy” rating to a “hold” rating and upped their target price for the company from $31.00 to $36.50 in a research note on Friday. Needham & Company LLC downgraded Pacira BioSciences from a “buy” rating to a “hold” rating in a research report on Thursday, October 8th. Weiss Ratings raised Pacira BioSciences from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday. Finally, JPMorgan Chase & Co. raised Pacira BioSciences from an “underweight” rating to a “neutral” rating and set a $36.50 price target on the stock in a research note on Thursday, October 8th.

Insider Activity

In related news, insider Jonathan Slonin sold 3,040 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the insider directly owned 216,384 shares in the company, valued at approximately $5,026,600.32. The trade was a 1.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Lauren Riker sold 6,000 shares of the business’s stock in a transaction that occurred on Thursday, October 8th. The shares were sold at an average price of $36.32, for a total transaction of $217,920.00. Following the completion of the sale, the senior vice president owned 62,284 shares of the company’s stock, valued at approximately $2,262,154.88. The trade was a 8.79% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 6.40% of the company’s stock.

Hedge Funds Weigh In On Pacira BioSciences

A number of large investors have recently bought and sold shares of PCRX. Integrated Wealth Concepts LLC increased its holdings in shares of Pacira BioSciences by 8.6% during the 2nd quarter. Integrated Wealth Concepts LLC now owns 43,764 shares of the company’s stock worth $1,110,000 after buying an additional 3,482 shares during the last quarter. Baird Financial Group Inc. purchased a new position in shares of Pacira BioSciences in the 2nd quarter worth $213,000. Amundi raised its position in shares of Pacira BioSciences by 16.2% in the 2nd quarter. Amundi now owns 15,894 shares of the company’s stock worth $403,000 after buying an additional 2,210 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in shares of Pacira BioSciences in the 2nd quarter worth $851,000. Finally, Three Seasons Wealth LLC boosted its holdings in Pacira BioSciences by 43.6% in the second quarter. Three Seasons Wealth LLC now owns 62,942 shares of the company’s stock valued at $1,597,000 after acquiring an additional 19,107 shares during the last quarter. Hedge funds and other institutional investors own 99.73% of the company’s stock.

Pacira BioSciences Stock Up 0.1%

Shares of NASDAQ PCRX opened at $36.35 on Tuesday. The firm has a market cap of $1.45 billion, a P/E ratio of 103.86 and a beta of 0.25. The company has a debt-to-equity ratio of 0.54, a quick ratio of 3.94 and a current ratio of 5.04. Pacira BioSciences has a 1 year low of $18.80 and a 1 year high of $36.46. The firm’s 50 day moving average price is $25.75 and its 200 day moving average price is $24.70.

Pacira BioSciences (NASDAQ:PCRX) last issued its quarterly earnings results on Tuesday, August 4th. The company reported $0.73 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.08. Pacira BioSciences had a return on equity of 9.68% and a net margin of 1.96%. The company had revenue of $192.40 million during the quarter, compared to the consensus estimate of $191.06 million. During the same period in the previous year, the firm posted $0.74 EPS. Pacira BioSciences’s revenue was up 6.2% on a year-over-year basis. As a group, sell-side analysts anticipate that Pacira BioSciences will post 1.86 earnings per share for the current year.

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.