Pacira BioSciences (NASDAQ:PCRX) Upgraded at Zacks Research

Pacira BioSciences (NASDAQ:PCRX) was upgraded by Zacks Research from a “strong sell” rating to a “hold” rating in a note issued to investors on Tuesday, Zacks reports.

A number of other analysts have also weighed in on PCRX. Truist Financial lowered Pacira BioSciences from a “buy” rating to a “hold” rating and upped their target price for the stock from $31.00 to $36.50 in a report on Friday, October 9th. Leerink Partners started coverage on Pacira BioSciences in a research report on Wednesday, September 9th. They set a “market perform” rating and a $28.00 target price on the stock. Jefferies Financial Group downgraded 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. HC Wainwright lowered Pacira BioSciences from a “buy” rating to a “hold” rating and reduced their price target for the stock from $38.00 to $36.50 in a research report on Friday, October 9th. Finally, Weiss Ratings upgraded Pacira BioSciences from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday, October 8th. One equities research analyst has rated the stock with a Buy rating and ten have issued a Hold rating to the stock. According to data from MarketBeat, Pacira BioSciences presently has an average rating of “Hold” and a consensus target price of $33.33.

Pacira BioSciences Price Performance

Shares of PCRX opened at $36.40 on Tuesday. The company has a 50 day moving average price of $29.75 and a 200-day moving average price of $25.04. Pacira BioSciences has a fifty-two week low of $18.80 and a fifty-two week high of $36.67. The stock has a market capitalization of $1.45 billion, a PE ratio of 104.00 and a beta of 0.21. 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 released its quarterly earnings data 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 firm had revenue of $192.40 million for the quarter, compared to the consensus estimate of $191.06 million. Pacira BioSciences had a net margin of 1.96% and a return on equity of 9.68%. The company’s quarterly revenue was up 6.2% on a year-over-year basis. During the same period last year, the firm earned $0.74 earnings per share. Equities analysts predict that Pacira BioSciences will post 1.86 earnings per share for the current fiscal year.

Insider Activity at Pacira BioSciences

In other Pacira BioSciences news, SVP Lauren Riker sold 6,000 shares of Pacira BioSciences stock in a transaction on Thursday, October 8th. The shares were 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 approximately $2,262,154.88. The trade was a 8.79% 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, insider Jonathan Slonin sold 3,040 shares of the company’s stock in a transaction on Monday, August 17th. The stock was sold at an average price of $23.23, for a total value of $70,619.20. Following the transaction, 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. 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. 6.40% of the stock is owned by company insiders.

Institutional Investors Weigh In On Pacira BioSciences

Institutional investors have recently added to or reduced their stakes in the business. Meeder Asset Management Inc. acquired a new position in shares of Pacira BioSciences during the first quarter valued at about $46,000. Global Retirement Partners LLC purchased a new position in shares of Pacira BioSciences in the 2nd quarter valued at approximately $51,000. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Pacira BioSciences in the 3rd quarter valued at approximately $51,000. State of Wyoming acquired a new stake in Pacira BioSciences in the 2nd quarter worth approximately $78,000. Finally, PNC Financial Services Group Inc. boosted its stake in Pacira BioSciences by 15.1% in 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 in the last quarter. Institutional investors and hedge funds own 99.73% of the company’s stock.

Pacira BioSciences Company Profile

Pacira BioSciences, Inc is a specialty pharmaceutical company focused on developing and commercializing non-opioid pain-management and regenerative health solutions. The company’s products are designed to address acute postsurgical pain and osteoarthritis-related pain while supporting efforts to reduce reliance on opioid medications.

Pacira’s lead product is EXPAREL, an extended-release formulation of bupivacaine administered by injection for postsurgical pain management. The company also markets ZILRETTA, an extended-release corticosteroid injection indicated for osteoarthritis knee pain, and iovera°, a cryoanalgesia system that uses controlled cooling to temporarily block peripheral nerves and relieve pain.

Formerly known as Pacira Pharmaceuticals, the company adopted the Pacira BioSciences name to reflect its broader focus on innovative pain and regenerative-health therapies.