Wedbush Equities Analysts Boost Earnings Estimates for Pacira Biosciences Inc (PCRX)
Pacira Biosciences Inc (NASDAQ:PCRX) – Wedbush lifted their Q3 2019 earnings per share (EPS) estimates for shares of Pacira Biosciences in a report issued on Wednesday, May 15th. Wedbush analyst L. Moussatos now expects that the company will post earnings per share of $0.07 for the quarter, up from their previous estimate of $0.04. Wedbush has a “Outperform” rating and a $85.00 price objective on the stock.
A number of other equities research analysts also recently weighed in on the stock. Mizuho upgraded shares of Pacira Biosciences from an “underperform” rating to a “neutral” rating and lifted their price target for the stock from $29.00 to $38.00 in a research note on Monday, May 6th. BMO Capital Markets set a $46.00 price target on shares of Pacira Biosciences and gave the stock a “hold” rating in a research note on Friday, May 3rd. Stifel Nicolaus upgraded shares of Pacira Biosciences from a “sell” rating to a “hold” rating and set a $45.00 price target on the stock in a research note on Thursday, May 2nd. Piper Jaffray Companies set a $55.00 price target on shares of Pacira Biosciences and gave the stock a “buy” rating in a research note on Tuesday, April 9th. Finally, ValuEngine downgraded shares of Pacira Biosciences from a “buy” rating to a “hold” rating in a research note on Wednesday, March 6th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have issued a buy rating to the stock. Pacira Biosciences currently has an average rating of “Hold” and an average target price of $54.00.
Pacira Biosciences (NASDAQ:PCRX) last posted its quarterly earnings results on Thursday, May 2nd. The company reported $0.22 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.02 by $0.20. Pacira Biosciences had a net margin of 2.10% and a return on equity of 6.78%. The firm had revenue of $91.31 million for the quarter, compared to the consensus estimate of $92.13 million. During the same quarter in the previous year, the company earned $0.02 earnings per share. The business’s revenue was up 22.4% compared to the same quarter last year.
In other news, Director Mark A. Kronenfeld bought 1,700 shares of Pacira Biosciences stock in a transaction dated Wednesday, March 6th. The shares were bought at an average price of $38.97 per share, for a total transaction of $66,249.00. Following the purchase, the director now owns 9,277 shares of the company’s stock, valued at $361,524.69. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 5.90% of the stock is currently owned by insiders.
Large investors have recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in shares of Pacira Biosciences by 7.2% in the 3rd quarter. Vanguard Group Inc. now owns 3,641,417 shares of the company’s stock valued at $178,976,000 after purchasing an additional 243,213 shares in the last quarter. California Public Employees Retirement System raised its holdings in shares of Pacira Biosciences by 4.7% in the fourth quarter. California Public Employees Retirement System now owns 52,851 shares of the company’s stock valued at $2,274,000 after buying an additional 2,351 shares during the last quarter. Timpani Capital Management LLC bought a new position in shares of Pacira Biosciences in the fourth quarter valued at about $2,375,000. Morgan Stanley raised its holdings in shares of Pacira Biosciences by 153.4% in the third quarter. Morgan Stanley now owns 275,769 shares of the company’s stock valued at $13,554,000 after buying an additional 166,933 shares during the last quarter. Finally, AlphaCrest Capital Management LLC bought a new position in shares of Pacira Biosciences in the fourth quarter valued at about $383,000.
About Pacira Biosciences
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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