Pacira BioSciences (NASDAQ:PCRX) Trading 4.6% Higher – Should You Buy?

Pacira BioSciences, Inc. (NASDAQ:PCRX)’s stock price rose 4.6% on Tuesday . The company traded as high as $22.19 and last traded at $22.2490. Approximately 147,730 shares changed hands during mid-day trading, a decline of 84% from the average daily volume of 946,530 shares. The stock had previously closed at $21.28.

Analyst Ratings Changes

A number of brokerages have issued reports on PCRX. Truist Financial cut their price objective on Pacira BioSciences from $30.00 to $28.00 and set a “buy” rating for the company in a report on Friday, November 7th. Wall Street Zen downgraded shares of Pacira BioSciences from a “strong-buy” rating to a “buy” rating in a report on Saturday. HC Wainwright reaffirmed a “buy” rating and set a $38.00 price objective on shares of Pacira BioSciences in a research note on Friday, January 9th. Barclays initiated coverage on shares of Pacira BioSciences in a research note on Tuesday, December 9th. They issued an “equal weight” rating and a $27.00 target price for the company. Finally, Needham & Company LLC reissued a “buy” rating and issued a $30.00 target price on shares of Pacira BioSciences in a report on Friday, January 9th. Three investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $30.75.

Pacira BioSciences Price Performance

The stock has a 50-day simple moving average of $22.56 and a 200 day simple moving average of $23.81. The stock has a market capitalization of $898.88 million, a P/E ratio of 148.00 and a beta of 0.21. The company has a debt-to-equity ratio of 0.54, a quick ratio of 3.28 and a current ratio of 4.54.

Pacira BioSciences (NASDAQ:PCRX) last issued its quarterly earnings results on Thursday, February 26th. The company reported $0.57 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.85 by ($0.28). The firm had revenue of $196.87 million for the quarter, compared to analyst estimates of $201.93 million. Pacira BioSciences had a net margin of 0.97% and a return on equity of 10.39%. The company’s revenue was up 5.1% compared to the same quarter last year. During the same period last year, the company earned $0.91 EPS. On average, equities analysts forecast that Pacira BioSciences, Inc. will post 2.41 earnings per share for the current fiscal year.

Insider Activity at Pacira BioSciences

In other Pacira BioSciences news, CFO Shawn Cross sold 15,896 shares of the firm’s stock in a transaction that occurred on Tuesday, December 9th. The shares were sold at an average price of $25.03, for a total value of $397,876.88. Following the transaction, the chief financial officer directly owned 56,250 shares of the company’s stock, valued at approximately $1,407,937.50. This trade represents a 22.03% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Lauren Riker sold 4,000 shares of the company’s stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $20.81, for a total transaction of $83,240.00. Following the sale, the senior vice president owned 52,313 shares of the company’s stock, valued at $1,088,633.53. The trade was a 7.10% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 30,416 shares of company stock worth $744,315 over the last 90 days. 6.40% of the stock is currently owned by company insiders.

Institutional Trading of Pacira BioSciences

Several hedge funds have recently added to or reduced their stakes in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Pacira BioSciences by 4.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 27,242 shares of the company’s stock valued at $677,000 after buying an additional 1,165 shares in the last quarter. Goldman Sachs Group Inc. increased its stake 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 purchasing an additional 367,869 shares during the last quarter. Strs Ohio bought a new stake in Pacira BioSciences in the first quarter valued at approximately $75,000. Y Intercept Hong Kong Ltd bought a new position in Pacira BioSciences during the second quarter worth $287,000. Finally, Phocas Financial Corp. grew its stake in Pacira BioSciences by 35.8% in the 2nd quarter. Phocas Financial Corp. now owns 193,437 shares of the company’s stock valued at $4,623,000 after buying an additional 50,994 shares during 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, 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.