Pacira BioSciences, Inc. (NASDAQ:PCRX) Given Average Rating of “Hold” by Brokerages

Pacira BioSciences, Inc. (NASDAQ:PCRX) has received a consensus rating of “Hold” from the seven ratings firms that are currently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $29.40.

Several analysts recently commented on PCRX shares. HC Wainwright reiterated a “buy” rating and issued a $38.00 target price on shares of Pacira BioSciences in a report on Friday, January 9th. Royal Bank Of Canada increased their price target on Pacira BioSciences from $22.00 to $24.00 and gave the stock a “sector perform” rating in a report on Friday, May 1st. Barclays cut their price target on Pacira BioSciences from $27.00 to $25.00 and set an “equal weight” rating on the stock in a report on Thursday, March 26th. Wall Street Zen cut Pacira BioSciences from a “strong-buy” rating to a “buy” rating in a report on Saturday, February 28th. Finally, Needham & Company LLC increased their price target on Pacira BioSciences from $30.00 to $32.00 and gave the stock a “buy” rating in a report on Friday, May 1st.

Insider Buying and Selling

In other Pacira BioSciences news, CFO Shawn Cross sold 12,941 shares of the stock in a transaction that occurred on Thursday, April 23rd. The stock was sold at an average price of $25.16, for a total transaction of $325,595.56. Following the transaction, the chief financial officer directly owned 105,341 shares in the company, valued at approximately $2,650,379.56. This represents a 10.94% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Jonathan Slonin sold 3,261 shares of the stock in a transaction that occurred on Tuesday, March 17th. The stock was sold at an average price of $22.82, for a total value of $74,416.02. Following the transaction, the insider owned 223,640 shares in the company, valued at $5,103,464.80. The trade was a 1.44% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 28,261 shares of company stock worth $702,610 over the last 90 days. Company insiders own 6.40% of the company’s stock.

Hedge Funds Weigh In On Pacira BioSciences

Institutional investors and hedge funds have recently modified their holdings of the business. Hantz Financial Services Inc. boosted its holdings in shares of Pacira BioSciences by 175.4% during the 3rd quarter. Hantz Financial Services Inc. now owns 1,132 shares of the company’s stock worth $29,000 after buying an additional 721 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its position in shares of Pacira BioSciences by 5,900.0% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,500 shares of the company’s stock worth $39,000 after purchasing an additional 1,475 shares during the period. Meeder Asset Management Inc. acquired a new position in shares of Pacira BioSciences during the first quarter worth approximately $46,000. Kestra Advisory Services LLC acquired a new position in shares of Pacira BioSciences during the fourth quarter worth approximately $48,000. Finally, Eurizon Capital SGR S.p.A. acquired a new position in shares of Pacira BioSciences during the fourth quarter worth approximately $51,000. 99.73% of the stock is currently owned by institutional investors.

Pacira BioSciences Stock Performance

Shares of PCRX stock opened at $23.15 on Friday. The business’s 50 day simple moving average is $23.36 and its 200 day simple moving average is $23.17. Pacira BioSciences has a one year low of $18.80 and a one year high of $27.64. The stock has a market capitalization of $910.95 million, a PE ratio of 192.93 and a beta of 0.32. The company has a debt-to-equity ratio of 0.56, a current ratio of 4.73 and a quick ratio of 3.35.

Pacira BioSciences (NASDAQ:PCRX) last announced its earnings results on Thursday, April 30th. The company reported $0.60 EPS for the quarter, missing the consensus estimate of $0.61 by ($0.01). Pacira BioSciences had a net margin of 0.70% and a return on equity of 10.24%. The company had revenue of $177.38 million during the quarter, compared to the consensus estimate of $171.80 million. During the same quarter in the previous year, the company earned $0.65 earnings per share. The business’s revenue was up 5.0% on a year-over-year basis. As a group, research analysts forecast that Pacira BioSciences will post 1.85 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, 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.