Pacira BioSciences (NASDAQ:PCRX) Reaches New 1-Year High – Should You Buy?

Pacira BioSciences, Inc. (NASDAQ:PCRX) hit a new 52-week high on Wednesday. The stock traded as high as $36.48 and last traded at $36.40, with a volume of 2,331,838 shares trading hands. The stock had previously closed at $36.31.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on PCRX. Weiss Ratings raised Pacira BioSciences from a “sell (d+)” rating to a “hold (c-)” rating in a report on Thursday, October 8th. Leerink Partners initiated coverage on Pacira BioSciences in a research note on Wednesday, September 9th. They issued a “market perform” rating and a $28.00 target price for the company. Royal Bank Of Canada lifted their target price on Pacira BioSciences from $25.00 to $36.50 and gave the company a “sector perform” rating in a report on Friday, October 9th. Needham & Company LLC cut Pacira BioSciences from a “buy” rating to a “hold” rating in a research report on Thursday, October 8th. Finally, Jefferies Financial Group downgraded shares of Pacira BioSciences from a “buy” rating to a “hold” rating and set a $36.00 price target on the stock. in a report on Thursday, October 8th. One research analyst has rated the stock with a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $33.33.

Pacira BioSciences Price Performance

The stock has a market capitalization of $1.45 billion, a PE ratio of 104.00 and a beta of 0.25. The business’s 50-day moving average price is $25.93 and its 200 day moving average price is $24.79. 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 (NASDAQ:PCRX) last issued its quarterly earnings data on Tuesday, August 4th. The company reported $0.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.65 by $0.08. The company had revenue of $192.40 million for the quarter, compared to the consensus estimate of $191.06 million. Pacira BioSciences had a return on equity of 9.68% and a net margin of 1.96%. The firm’s revenue was up 6.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.74 earnings per share. Research analysts forecast that Pacira BioSciences, Inc. will post 1.86 earnings per share for the current year.

Insider Activity

In other news, insider Jonathan Slonin sold 3,040 shares of the business’s stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $23.23, for a total transaction of $70,619.20. Following the completion of the transaction, the insider owned 216,384 shares of the company’s stock, valued at approximately $5,026,600.32. The trade was a 1.39% decrease in their ownership of the stock. The sale 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 dated Thursday, October 8th. The stock was sold at an average price of $36.32, for a total value of $217,920.00. Following the transaction, the senior vice president directly owned 62,284 shares of the company’s stock, valued at $2,262,154.88. The trade was a 8.79% decrease in their position. 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. Company insiders own 6.40% of the company’s stock.

Institutional Investors Weigh In On Pacira BioSciences

Institutional investors and hedge funds have recently bought and sold shares of the stock. Integrated Wealth Concepts LLC grew its stake in Pacira BioSciences by 8.6% in 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 in the last quarter. Baird Financial Group Inc. purchased a new stake in shares of Pacira BioSciences during the 2nd quarter valued at $213,000. Amundi raised its position in shares of Pacira BioSciences by 16.2% during the 2nd quarter. Amundi now owns 15,894 shares of the company’s stock valued at $403,000 after buying an additional 2,210 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in shares of Pacira BioSciences during the 2nd quarter valued at $851,000. Finally, Three Seasons Wealth LLC lifted its holdings in shares of Pacira BioSciences by 43.6% during the 2nd quarter. Three Seasons Wealth LLC now owns 62,942 shares of the company’s stock worth $1,597,000 after acquiring an additional 19,107 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 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.