Pacira BioSciences, Inc. (NASDAQ:PCRX) Given Average Rating of “Hold” by Brokerages

Pacira BioSciences, Inc. (NASDAQ:PCRX) has received an average recommendation of “Hold” from the six ratings firms that are covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $30.75.

A number of equities research analysts have weighed in on PCRX shares. Truist Financial lowered their price objective on Pacira BioSciences from $30.00 to $28.00 and set a “buy” rating for the company in a research note on Friday, November 7th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Pacira BioSciences in a research note on Monday, December 29th. HC Wainwright reissued a “buy” rating and set a $38.00 price target on shares of Pacira BioSciences in a research report on Friday, January 9th. Barclays assumed coverage on shares of Pacira BioSciences in a report on Tuesday, December 9th. They issued an “equal weight” rating and a $27.00 price target on the stock. Finally, Needham & Company LLC reiterated a “buy” rating and set a $30.00 price objective on shares of Pacira BioSciences in a research note on Friday, January 9th.

Pacira BioSciences Stock Performance

Pacira BioSciences stock opened at $21.22 on Thursday. Pacira BioSciences has a 12-month low of $18.80 and a 12-month high of $27.64. The company has a debt-to-equity ratio of 0.52, a current ratio of 5.26 and a quick ratio of 3.78. The company has a market capitalization of $912.88 million, a price-to-earnings ratio of 47.16 and a beta of 0.25. The firm’s fifty day moving average price is $23.73 and its 200 day moving average price is $23.94.

Pacira BioSciences (NASDAQ:PCRX) last announced its earnings results on Thursday, November 6th. The company reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.05. Pacira BioSciences had a return on equity of 12.82% and a net margin of 2.99%.The company had revenue of $179.52 million during the quarter, compared to the consensus estimate of $182.86 million. During the same period last year, the firm earned $0.79 earnings per share. The company’s revenue was up 6.5% on a year-over-year basis. On average, research analysts forecast that Pacira BioSciences will post 2.41 EPS for the current fiscal year.

Insider Activity

In other news, insider Jonathan Slonin sold 3,960 shares of the stock in a transaction dated Monday, November 17th. The shares were sold at an average price of $24.09, for a total transaction of $95,396.40. Following the transaction, the insider owned 178,367 shares of the company’s stock, valued at approximately $4,296,861.03. This trade represents a 2.17% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Shawn Cross sold 9,104 shares of the business’s stock in a transaction dated Wednesday, December 10th. The shares were sold at an average price of $25.14, for a total value of $228,874.56. Following the completion of the sale, the chief financial officer directly owned 56,250 shares of the company’s stock, valued at approximately $1,414,125. This represents a 13.93% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 34,336 shares of company stock worth $851,868. 6.40% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Pacira BioSciences

Several institutional investors and hedge funds have recently made changes to their positions in the company. Hantz Financial Services Inc. boosted its holdings in Pacira BioSciences by 175.4% in the third quarter. Hantz Financial Services Inc. now owns 1,132 shares of the company’s stock worth $29,000 after purchasing an additional 721 shares during the period. Tidemark LLC bought a new position in shares of Pacira BioSciences in the 3rd quarter worth about $56,000. Strs Ohio acquired a new position in shares of Pacira BioSciences in the 1st quarter valued at about $75,000. Wolverine Asset Management LLC grew its position in shares of Pacira BioSciences by 122.1% during the 4th quarter. Wolverine Asset Management LLC now owns 3,000 shares of the company’s stock valued at $78,000 after buying an additional 16,572 shares during the last quarter. Finally, iSAM Funds UK Ltd acquired a new stake in Pacira BioSciences during the third quarter worth about $80,000. 99.73% of the stock is owned by institutional investors and hedge funds.

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.