Pacira BioSciences (NASDAQ:PCRX) Rating Increased to Hold at Zacks Research

Zacks Research upgraded shares of Pacira BioSciences (NASDAQ:PCRX) from a strong sell rating to a hold rating in a research note issued to investors on Tuesday,Zacks.com reports.

Several other research analysts also recently commented on PCRX. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Pacira BioSciences in a research note on Monday, December 29th. Barclays cut their price target on shares of Pacira BioSciences from $27.00 to $25.00 and set an “equal weight” rating on the stock in a report on Thursday, March 26th. Wall Street Zen downgraded shares of Pacira BioSciences from a “strong-buy” rating to a “buy” rating in a research report on Saturday, February 28th. Needham & Company LLC reissued a “buy” rating and set a $30.00 price objective on shares of Pacira BioSciences in a research report on Friday, January 9th. Finally, HC Wainwright reissued a “buy” rating and set a $38.00 price objective on shares of Pacira BioSciences in a research report on Friday, January 9th. Three equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Pacira BioSciences presently has an average rating of “Hold” and a consensus price target of $30.25.

Pacira BioSciences Stock Up 3.2%

Shares of NASDAQ PCRX opened at $23.25 on Tuesday. The company has a quick ratio of 3.28, a current ratio of 4.54 and a debt-to-equity ratio of 0.54. Pacira BioSciences has a 52 week low of $18.80 and a 52 week high of $27.64. The firm’s fifty day moving average is $22.30 and its 200 day moving average is $23.16. The company has a market cap of $941.39 million, a price-to-earnings ratio of 155.00 and a beta of 0.19.

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

Insider Transactions at Pacira BioSciences

In other news, SVP Lauren Riker sold 4,000 shares of the company’s stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $20.81, for a total value of $83,240.00. Following the sale, the senior vice president directly owned 52,313 shares of the company’s stock, valued at $1,088,633.53. This represents a 7.10% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jonathan Slonin sold 3,261 shares of the company’s stock in a transaction dated Tuesday, March 17th. The stock was sold at an average price of $22.82, for a total transaction of $74,416.02. Following the completion of the sale, the insider directly owned 223,640 shares in the company, valued at $5,103,464.80. This represents a 1.44% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 6.40% of the stock is owned by corporate insiders.

Institutional Trading of Pacira BioSciences

A number of hedge funds and other institutional investors have recently modified their holdings of PCRX. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Pacira BioSciences by 4.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 27,242 shares of the company’s stock worth $677,000 after buying an additional 1,165 shares during the period. Goldman Sachs Group Inc. grew its position in shares of Pacira BioSciences by 49.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,104,796 shares of the company’s stock worth $27,454,000 after buying an additional 367,869 shares during the period. Strs Ohio purchased a new stake in shares of Pacira BioSciences in the 1st quarter worth about $75,000. Marshall Wace LLP purchased a new stake in shares of Pacira BioSciences in the 2nd quarter worth about $4,550,000. Finally, Natixis grew its position in shares of Pacira BioSciences by 302,500.0% in the 2nd quarter. Natixis now owns 151,300 shares of the company’s stock worth $3,616,000 after buying an additional 151,250 shares during the period. 99.73% of the stock is owned by hedge funds and other institutional investors.

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.