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

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

Analyst Upgrades and Downgrades

PCRX has been the subject of a number of analyst reports. Weiss Ratings upgraded Pacira BioSciences from a “sell (d+)” rating to a “hold (c-)” rating in a report on Thursday, October 8th. Truist Financial downgraded shares of Pacira BioSciences from a “buy” rating to a “hold” rating and lifted their price target for the stock from $31.00 to $36.50 in a research note on Friday, October 9th. Needham & Company LLC lowered shares of Pacira BioSciences from a “buy” rating to a “hold” rating in a report on Thursday, October 8th. JPMorgan Chase & Co. raised shares of Pacira BioSciences from an “underweight” rating to a “neutral” rating and set a $36.50 price objective for the company in a research report on Thursday, October 8th. Finally, HC Wainwright cut Pacira BioSciences from a “buy” rating to a “hold” rating and cut their price target for the stock from $38.00 to $36.50 in a research note on Friday, October 9th. One analyst has rated the stock with a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $33.33.

Pacira BioSciences Stock Up 0.1%

The firm has a market cap of $1.45 billion, a P/E ratio of 103.89 and a beta of 0.25. The firm’s 50-day moving average price is $26.37 and its 200 day moving average price is $24.98. The company has a debt-to-equity ratio of 0.54, a current ratio of 5.04 and a quick ratio of 3.94.

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 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 firm had revenue of $192.40 million during the quarter, compared to analyst estimates of $191.06 million. During the same period in the previous year, the company earned $0.74 earnings per share. Pacira BioSciences’s quarterly revenue was up 6.2% on a year-over-year basis. On average, equities research analysts expect that Pacira BioSciences, Inc. will post 1.86 earnings per share for the current fiscal year.

Insider Activity at Pacira BioSciences

In related news, insider Jonathan Slonin sold 3,040 shares of the company’s stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $23.23, for a total transaction of $70,619.20. Following the sale, the insider directly owned 216,384 shares of the company’s stock, valued at approximately $5,026,600.32. This represents a 1.39% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Lauren Riker sold 6,000 shares of the firm’s stock in a transaction on 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 owned 62,284 shares in the company, valued at $2,262,154.88. This trade represents a 8.79% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 6.40% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. PNC Financial Services Group Inc. boosted its holdings in shares of Pacira BioSciences by 15.1% in the 1st quarter. PNC Financial Services Group Inc. now owns 3,751 shares of the company’s stock valued at $85,000 after buying an additional 492 shares during the period. Allspring Global Investments Holdings LLC grew its holdings in shares of Pacira BioSciences by 10.8% during the first quarter. Allspring Global Investments Holdings LLC now owns 11,746 shares of the company’s stock valued at $268,000 after purchasing an additional 1,142 shares during the last quarter. State of Wyoming grew its holdings in shares of Pacira BioSciences by 10.2% during the first quarter. State of Wyoming now owns 12,298 shares of the company’s stock valued at $278,000 after purchasing an additional 1,143 shares during the last quarter. Hsbc Holdings PLC raised its position in shares of Pacira BioSciences by 7.7% during the 4th quarter. Hsbc Holdings PLC now owns 18,416 shares of the company’s stock worth $479,000 after purchasing an additional 1,316 shares during the period. Finally, Global Retirement Partners LLC acquired a new stake in shares of Pacira BioSciences during the 2nd quarter worth approximately $51,000. 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 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.