Jefferies Financial Group Brokers Lower Earnings Estimates for Pacira Biosciences Inc (NASDAQ:PCRX)
Pacira Biosciences Inc (NASDAQ:PCRX) – Stock analysts at Jefferies Financial Group dropped their Q4 2020 earnings estimates for shares of Pacira Biosciences in a research note issued on Friday, July 10th. Jefferies Financial Group analyst D. Steinberg now anticipates that the company will earn $0.63 per share for the quarter, down from their prior forecast of $0.64. Jefferies Financial Group has a “Buy” rating and a $69.00 price target on the stock.
A number of other research analysts have also recently weighed in on the stock. ValuEngine raised shares of Pacira Biosciences from a “sell” rating to a “hold” rating in a report on Tuesday, March 17th. Zacks Investment Research cut shares of Pacira Biosciences from a “buy” rating to a “hold” rating and set a $38.00 price objective for the company. in a report on Friday, March 27th. SVB Leerink lifted their price objective on shares of Pacira Biosciences from $45.00 to $58.00 and gave the company an “outperform” rating in a report on Tuesday, June 30th. Stifel Nicolaus cut their price objective on shares of Pacira Biosciences from $49.00 to $48.00 and set a “hold” rating for the company in a report on Thursday, May 7th. Finally, Wedbush reaffirmed a “buy” rating and issued a $85.00 price objective on shares of Pacira Biosciences in a report on Thursday, July 2nd. Seven equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Pacira Biosciences currently has an average rating of “Buy” and an average price target of $57.73.
Pacira Biosciences (NASDAQ:PCRX) last issued its earnings results on Thursday, May 7th. The company reported $0.53 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.30 by $0.23. Pacira Biosciences had a negative net margin of 0.02% and a positive return on equity of 13.89%. The firm had revenue of $105.68 million during the quarter, compared to analysts’ expectations of $101.64 million. During the same quarter last year, the company posted $0.22 earnings per share. The firm’s revenue was up 15.7% compared to the same quarter last year.
In related news, VP Lauren Bullaro Riker sold 2,000 shares of the business’s stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $45.26, for a total transaction of $90,520.00. Following the transaction, the vice president now directly owns 12,464 shares in the company, valued at $564,120.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Charles A. Reinhart III sold 1,489 shares of the business’s stock in a transaction dated Thursday, June 4th. The stock was sold at an average price of $46.33, for a total transaction of $68,985.37. Following the transaction, the chief financial officer now owns 14,847 shares in the company, valued at $687,861.51. The disclosure for this sale can be found here. In the last quarter, insiders sold 109,184 shares of company stock worth $5,337,870. Company insiders own 6.20% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of PCRX. Norges Bank acquired a new position in Pacira Biosciences during the fourth quarter worth about $24,517,000. Spyglass Capital Management LLC boosted its holdings in Pacira Biosciences by 87.4% in the 4th quarter. Spyglass Capital Management LLC now owns 856,827 shares of the company’s stock valued at $38,814,000 after purchasing an additional 399,577 shares during the last quarter. Loomis Sayles & Co. L P boosted its holdings in Pacira Biosciences by 43.9% in the 1st quarter. Loomis Sayles & Co. L P now owns 754,996 shares of the company’s stock valued at $25,315,000 after purchasing an additional 230,403 shares during the last quarter. Rice Hall James & Associates LLC boosted its holdings in Pacira Biosciences by 50.6% in the 1st quarter. Rice Hall James & Associates LLC now owns 627,714 shares of the company’s stock valued at $21,047,000 after purchasing an additional 210,863 shares during the last quarter. Finally, MERIAN GLOBAL INVESTORS UK Ltd acquired a new position in Pacira Biosciences in the 2nd quarter valued at about $7,366,000.
Pacira Biosciences Company Profile
Pacira BioSciences, Inc provides non-opioid pain management and regenerative health solutions for health care practitioners and their patients in the United States. The company develops products based on its proprietary DepoFoam product delivery technology that encapsulates drugs without altering their molecular structure.
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