Pacira BioSciences (NASDAQ:PCRX) Sets New 12-Month High – Should You Buy?

Pacira BioSciences, Inc. (NASDAQ:PCRX)’s stock price hit a new 52-week high during mid-day trading on Monday. The company traded as high as $37.18 and last traded at $36.4130, with a volume of 2,012 shares trading hands. The stock had previously closed at $36.39.

Wall Street Analysts Forecast Growth

PCRX has been the topic of several research analyst reports. Jefferies Financial Group lowered Pacira BioSciences from a “buy” rating to a “hold” rating and set a $36.00 target price on the stock. in a research report on Thursday, October 8th. JPMorgan Chase & Co. upgraded Pacira BioSciences from an “underweight” rating to a “neutral” rating and set a $36.50 target price for the company in a report on Thursday, October 8th. Leerink Partners assumed coverage on Pacira BioSciences in a research note on Wednesday, September 9th. They issued a “market perform” rating and a $28.00 price target on the stock. Royal Bank Of Canada increased their price target on Pacira BioSciences from $25.00 to $36.50 and gave the stock a “sector perform” rating in a report on Friday, October 9th. Finally, Zacks Research cut Pacira BioSciences from a “hold” rating to a “strong sell” rating in a report on Monday, October 5th. One research analyst has rated the stock with a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $33.33.

Pacira BioSciences Trading Down 0.0%

The firm’s 50 day simple moving average is $29.53 and its two-hundred day simple moving average is $24.96. The stock has a market capitalization of $1.45 billion, a P/E ratio of 23.33 and a beta of 0.21. The company has a quick ratio of 3.94, a current ratio of 5.04 and a debt-to-equity ratio of 0.54.

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, topping analysts’ consensus estimates of $0.65 by $0.08. The company had revenue of $192.40 million for the quarter, compared to analysts’ expectations of $191.06 million. Pacira BioSciences had a net margin of 1.96% and a return on equity of 9.68%. The business’s revenue was up 6.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.74 EPS. As a group, analysts forecast that Pacira BioSciences, Inc. will post 1.86 earnings per share for the current fiscal year.

Insider Activity at Pacira BioSciences

In other news, SVP Lauren Riker sold 6,000 shares of the business’s stock in a transaction that occurred on Thursday, October 8th. The stock was sold at an average price of $36.32, for a total transaction of $217,920.00. Following the completion of the sale, the senior vice president owned 62,284 shares in the company, valued at $2,262,154.88. The trade was a 8.79% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Jonathan Slonin sold 3,040 shares of the business’s stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $23.23, for a total value of $70,619.20. Following the sale, the insider 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 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 corporate insiders.

Institutional Investors Weigh In On Pacira BioSciences

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Wedge Capital Management L L P NC bought a new position in Pacira BioSciences during the 2nd quarter valued at $2,399,000. Rice Hall James & Associates LLC purchased a new position in Pacira BioSciences during the 2nd quarter worth $2,369,000. Bank of New York Mellon Corp bought a new stake in shares of Pacira BioSciences in the 2nd quarter worth $7,532,000. Bank of America Corp DE bought a new stake in shares of Pacira BioSciences in the 2nd quarter worth $6,089,000. Finally, Hennion & Walsh Asset Management Inc. grew 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 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.