HC Wainwright Reaffirms “Buy” Rating for Pacira BioSciences (NASDAQ:PCRX)

Pacira BioSciences (NASDAQ:PCRX)‘s stock had its “buy” rating reaffirmed by HC Wainwright in a report released on Wednesday,Benzinga reports. They presently have a $38.00 price target on the stock. HC Wainwright’s price target points to a potential upside of 49.78% from the stock’s current price.

Several other brokerages have also recently issued reports on PCRX. Zacks Research upgraded shares of Pacira BioSciences from a “strong sell” rating to a “hold” rating in a research report on Tuesday, April 7th. Royal Bank Of Canada raised their target price on Pacira BioSciences from $22.00 to $24.00 and gave the stock a “sector perform” rating in a research report on Friday, May 1st. Barclays cut their target price on Pacira BioSciences from $27.00 to $25.00 and set an “equal weight” rating on the stock in a report on Thursday, March 26th. Weiss Ratings upgraded Pacira BioSciences from a “sell (d)” rating to a “sell (d+)” rating in a research report on Wednesday, May 20th. Finally, Needham & Company LLC increased their price target on Pacira BioSciences from $30.00 to $32.00 and gave the company a “buy” rating in a research note on Friday, May 1st. Three investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $29.40.

Pacira BioSciences Price Performance

Pacira BioSciences stock opened at $25.37 on Wednesday. The stock has a 50-day moving average price of $23.62 and a two-hundred day moving average price of $23.23. Pacira BioSciences has a 12 month low of $18.80 and a 12 month high of $27.64. The company has a market capitalization of $998.31 million, a PE ratio of 211.43 and a beta of 0.29. The company has a current ratio of 4.73, a quick ratio of 3.35 and a debt-to-equity ratio of 0.56.

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

Insider Buying and Selling at Pacira BioSciences

In other news, SVP Lauren Riker sold 6,115 shares of the stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $23.50, for a total transaction of $143,702.50. Following the completion of the sale, the senior vice president directly owned 62,284 shares in the company, valued at $1,463,674. This represents a 8.94% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Shawn Cross sold 12,941 shares of Pacira BioSciences stock in a transaction on Thursday, April 23rd. The stock was sold at an average price of $25.16, for a total transaction of $325,595.56. Following the transaction, the chief financial officer directly owned 105,341 shares of the company’s stock, valued at $2,650,379.56. This represents a 10.94% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 31,115 shares of company stock valued at $771,896. 6.40% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Northwestern Mutual Wealth Management Co. grew its stake in Pacira BioSciences by 5,900.0% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,500 shares of the company’s stock worth $39,000 after purchasing an additional 1,475 shares during the period. Meeder Asset Management Inc. bought a new stake in Pacira BioSciences in the first quarter worth approximately $46,000. Kestra Advisory Services LLC acquired a new position in Pacira BioSciences in the fourth quarter valued at approximately $48,000. Eurizon Capital SGR S.p.A. acquired a new position in Pacira BioSciences in the fourth quarter valued at approximately $51,000. Finally, Global Retirement Partners LLC boosted its holdings in shares of Pacira BioSciences by 479.4% during the 4th quarter. Global Retirement Partners LLC now owns 2,028 shares of the company’s stock worth $52,000 after buying an additional 1,678 shares in the last quarter. 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.