Pacira BioSciences, Inc. (NASDAQ:PCRX) Receives Consensus Recommendation of “Hold” from Brokerages

Pacira BioSciences, Inc. (NASDAQ:PCRX) has received an average rating of “Hold” from the seven brokerages that are currently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, three have given a hold recommendation and three have assigned a buy recommendation to the company. The average 1-year price target among brokers that have covered the stock in the last year is $29.80.

Several equities analysts have recently commented on PCRX shares. HC Wainwright reaffirmed a “buy” rating and set a $38.00 target price on shares of Pacira BioSciences in a report on Wednesday, July 1st. Royal Bank Of Canada raised their price target on Pacira BioSciences from $24.00 to $25.00 and gave the stock a “sector perform” rating in a report on Wednesday, August 5th. Weiss Ratings upgraded Pacira BioSciences from a “sell (d)” rating to a “sell (d+)” rating in a research report on Wednesday, May 20th. Needham & Company LLC upped their price objective on Pacira BioSciences from $32.00 to $33.00 and gave the stock a “buy” rating in a research note on Wednesday, August 5th. Finally, Wall Street Zen lowered Pacira BioSciences from a “strong-buy” rating to a “buy” rating in a research report on Sunday.

Pacira BioSciences Stock Performance

Pacira BioSciences stock opened at $23.00 on Monday. Pacira BioSciences has a 1 year low of $18.80 and a 1 year high of $27.66. The firm’s 50-day moving average is $24.80 and its 200-day moving average is $23.56. 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 company has a market cap of $916.78 million, a P/E ratio of 65.72 and a beta of 0.27.

Pacira BioSciences (NASDAQ:PCRX) last announced its quarterly earnings data on Tuesday, August 4th. The company reported $0.73 earnings per share for the quarter, beating analysts’ consensus estimates of $0.65 by $0.08. Pacira BioSciences had a net margin of 1.96% and a return on equity of 9.68%. The business had revenue of $192.40 million during the quarter, compared to the consensus estimate of $191.06 million. During the same quarter in the prior year, the firm earned $0.74 EPS. The company’s revenue for the quarter was up 6.2% compared to the same quarter last year. On average, equities analysts expect that Pacira BioSciences will post 1.98 earnings per share for the current year.

Insider Activity

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

Institutional Trading of Pacira BioSciences

Several hedge funds have recently bought and sold shares of the company. Impax Asset Management Group plc lifted its holdings in Pacira BioSciences by 25.0% in the fourth quarter. Impax Asset Management Group plc now owns 750,027 shares of the company’s stock worth $19,411,000 after purchasing an additional 150,000 shares during the period. Hillsdale Investment Management Inc. bought a new stake in shares of Pacira BioSciences during the 4th quarter worth about $7,976,000. LSV Asset Management raised its position in shares of Pacira BioSciences by 179.8% during the 4th quarter. LSV Asset Management now owns 319,800 shares of the company’s stock worth $8,276,000 after buying an additional 205,500 shares in the last quarter. Gagnon Advisors LLC lifted its stake in shares of Pacira BioSciences by 22.3% in the 4th quarter. Gagnon Advisors LLC now owns 260,908 shares of the company’s stock worth $6,752,000 after acquiring an additional 47,506 shares during the period. Finally, Hennion & Walsh Asset Management Inc. lifted its stake in shares of Pacira BioSciences by 31.0% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 203,520 shares of the company’s stock worth $5,163,000 after acquiring an additional 48,124 shares during the period. 99.73% of the stock is currently owned by institutional investors.

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.