Pacira BioSciences (NASDAQ:PCRX) Coverage Initiated at Truist Financial

Research analysts at Truist Financial assumed coverage on shares of Pacira BioSciences (NASDAQ:PCRX) in a research note issued to investors on Monday. The brokerage set a “buy” rating and a $30.00 price target on the stock. Truist Financial’s price objective suggests a potential upside of 28.81% from the company’s previous close.

PCRX has been the topic of a number of other reports. Needham & Company LLC increased their price target on shares of Pacira BioSciences from $32.00 to $33.00 and gave the stock a “buy” rating in a report on Wednesday, August 5th. Weiss Ratings raised shares of Pacira BioSciences from a “sell (d)” rating to a “sell (d+)” rating in a research note on Wednesday, May 20th. Royal Bank Of Canada upped their target price on shares of Pacira BioSciences from $24.00 to $25.00 and gave the stock a “sector perform” rating in a report on Wednesday, August 5th. HC Wainwright reiterated a “buy” rating and issued a $38.00 target price on shares of Pacira BioSciences in a research note on Wednesday, July 1st. Finally, Wall Street Zen downgraded shares of Pacira BioSciences from a “strong-buy” rating to a “buy” rating in a report on Sunday. Three analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Pacira BioSciences has a consensus rating of “Hold” and an average price target of $30.20.

Pacira BioSciences Stock Performance

Shares of Pacira BioSciences stock traded up $0.29 during mid-day trading on Monday, hitting $23.29. 23,959 shares of the stock were exchanged, compared to its average volume of 694,474. Pacira BioSciences has a 12 month low of $18.80 and a 12 month high of $27.66. The company has a 50-day simple moving average of $24.80 and a 200 day simple moving average of $23.56. The company has a market capitalization of $928.34 million, a P/E ratio of 66.36 and a beta of 0.27. The company has a debt-to-equity ratio of 0.54, a quick ratio of 3.94 and a current ratio of 5.04.

Pacira BioSciences (NASDAQ:PCRX) last posted 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. 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 last year, the company posted $0.74 earnings per share. The firm’s quarterly revenue was up 6.2% compared to the same quarter last year. Sell-side analysts anticipate that Pacira BioSciences will post 1.98 earnings per share for the current fiscal year.

Insider Activity

In related news, SVP Lauren Riker sold 6,115 shares of the company’s stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $23.50, for a total value of $143,702.50. Following the transaction, the senior vice president directly 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 document filed 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 Investors Weigh In On Pacira BioSciences

Several hedge funds have recently bought and sold shares of the stock. Dimensional Fund Advisors LP increased its holdings in shares of Pacira BioSciences by 0.5% in the 3rd quarter. Dimensional Fund Advisors LP now owns 2,163,473 shares of the company’s stock worth $55,751,000 after buying an additional 11,831 shares during the last quarter. Balyasny Asset Management L.P. raised its position in shares of Pacira BioSciences by 36.1% during the 2nd quarter. Balyasny Asset Management L.P. now owns 2,130,733 shares of the company’s stock valued at $50,925,000 after buying an additional 565,288 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of Pacira BioSciences by 49.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,104,796 shares of the company’s stock worth $27,454,000 after acquiring an additional 367,869 shares during the last quarter. Impax Asset Management Group plc lifted its holdings in shares of Pacira BioSciences by 25.0% during the 4th quarter. Impax Asset Management Group plc now owns 750,027 shares of the company’s stock worth $19,411,000 after acquiring an additional 150,000 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in Pacira BioSciences by 7.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 676,352 shares of the company’s stock worth $17,504,000 after acquiring an additional 49,079 shares in the last quarter. 99.73% of the stock is currently owned by institutional investors.

Pacira BioSciences Company Profile

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.