Pacira BioSciences (NASDAQ:PCRX) Receives Buy Rating from HC Wainwright

Pacira BioSciences (NASDAQ:PCRX)‘s stock had its “buy” rating reissued by analysts at HC Wainwright in a research report issued to clients and investors on Wednesday,Benzinga reports. They currently have a $38.00 price objective on the stock. HC Wainwright’s price target points to a potential upside of 49.78% from the company’s current price.

PCRX has been the topic of a number of other reports. Royal Bank Of Canada increased their target price 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 decreased their price target on shares of Pacira BioSciences from $27.00 to $25.00 and set an “equal weight” rating for the company in a research note on Thursday, March 26th. Weiss Ratings upgraded shares of Pacira BioSciences from a “sell (d)” rating to a “sell (d+)” rating in a report on Wednesday, May 20th. Needham & Company LLC raised their price objective on shares of Pacira BioSciences from $30.00 to $32.00 and gave the company a “buy” rating in a research note on Friday, May 1st. Finally, Zacks Research upgraded shares of Pacira BioSciences from a “strong sell” rating to a “hold” rating in a report on Tuesday, April 7th. Three equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Pacira BioSciences has an average rating of “Hold” and a consensus target price of $29.40.

Pacira BioSciences Price Performance

PCRX stock opened at $25.37 on Wednesday. The company has a debt-to-equity ratio of 0.56, a current ratio of 4.73 and a quick ratio of 3.35. The company’s 50-day moving average is $23.62 and its 200-day moving average is $23.23. The stock has a market capitalization of $998.31 million, a PE ratio of 211.43 and a beta of 0.29. Pacira BioSciences has a 1 year low of $18.80 and a 1 year high of $27.64.

Pacira BioSciences (NASDAQ:PCRX) last posted its quarterly earnings results on Thursday, April 30th. The company reported $0.60 earnings per share for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.01). Pacira BioSciences had a return on equity of 10.24% and a net margin of 0.70%.The firm had revenue of $177.38 million for the quarter, compared to analyst estimates of $171.80 million. During the same period last year, the company posted $0.65 earnings per share. The firm’s quarterly revenue was up 5.0% compared to the same quarter last year. Equities research analysts expect that Pacira BioSciences will post 1.94 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CFO Shawn Cross sold 12,941 shares of the firm’s stock in a transaction that occurred on Thursday, April 23rd. The stock was sold at an average price of $25.16, for a total value of $325,595.56. Following the transaction, the chief financial officer owned 105,341 shares in the company, valued at $2,650,379.56. This trade represents a 10.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Lauren Riker sold 6,115 shares of Pacira BioSciences 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. The trade was a 8.94% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 31,115 shares of company stock worth $771,896 in the last 90 days. Corporate insiders own 6.40% of the company’s stock.

Institutional Trading of Pacira BioSciences

Several institutional investors have recently made changes to their positions in the company. PNC Financial Services Group Inc. raised its holdings in shares of Pacira BioSciences by 15.1% in the first quarter. PNC Financial Services Group Inc. now owns 3,751 shares of the company’s stock valued at $85,000 after purchasing an additional 492 shares during the last quarter. Inspire Investing LLC lifted its position in shares of Pacira BioSciences by 3.2% during the fourth quarter. Inspire Investing LLC now owns 17,958 shares of the company’s stock valued at $465,000 after purchasing an additional 556 shares in the last quarter. State of Wyoming boosted its holdings in Pacira BioSciences by 7.0% during the fourth quarter. State of Wyoming now owns 11,155 shares of the company’s stock worth $289,000 after purchasing an additional 728 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in Pacira BioSciences by 8.0% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 10,604 shares of the company’s stock worth $259,000 after purchasing an additional 785 shares during the last quarter. Finally, Franklin Resources Inc. grew its position in Pacira BioSciences by 2.6% in the 4th quarter. Franklin Resources Inc. now owns 33,860 shares of the company’s stock worth $876,000 after purchasing an additional 846 shares in the last quarter. Institutional investors own 99.73% of the company’s stock.

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.