Pacira BioSciences (NASDAQ:PCRX) Price Target Raised to $31.00

Pacira BioSciences (NASDAQ:PCRX) had its price target hoisted by Truist Financial from $30.00 to $31.00 in a research report sent to investors on Wednesday,Benzinga reports. The brokerage currently has a buy rating on the stock.

Several other brokerages have also commented on PCRX. Weiss Ratings lowered shares of Pacira BioSciences from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Wednesday, September 16th. Leerink Partners started coverage on Pacira BioSciences in a research note on Wednesday, September 9th. They issued a “market perform” rating and a $28.00 price objective on the stock. Royal Bank Of Canada increased their price objective on Pacira BioSciences from $24.00 to $25.00 and gave the company a “sector perform” rating in a report on Wednesday, August 5th. Wall Street Zen upgraded Pacira BioSciences from a “buy” rating to a “strong-buy” rating in a research note on Saturday, September 26th. Finally, Zacks Research cut Pacira BioSciences from a “hold” rating to a “strong sell” rating in a research report on Monday, October 5th. One investment analyst has rated the stock with a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Pacira BioSciences has an average rating of “Hold” and an average price target of $33.33.

Pacira BioSciences Stock Performance

Shares of Pacira BioSciences stock opened at $36.31 on Wednesday. The business’s fifty day simple moving average is $25.56 and its 200 day simple moving average is $24.59. The firm has a market capitalization of $1.45 billion, a P/E ratio of 103.75 and a beta of 0.25. Pacira BioSciences has a 12 month low of $18.80 and a 12 month high of $36.46. The company has a current ratio of 5.04, a quick ratio of 3.94 and a debt-to-equity ratio of 0.54.

Pacira BioSciences (NASDAQ:PCRX) last announced its quarterly earnings data on Tuesday, August 4th. The company reported $0.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.65 by $0.08. The firm had revenue of $192.40 million during the quarter, compared to the consensus estimate of $191.06 million. Pacira BioSciences had a return on equity of 9.68% and a net margin of 1.96%. The business’s revenue for the quarter was up 6.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.74 EPS. As a group, analysts anticipate that Pacira BioSciences will post 1.86 EPS for the current year.

Insider Buying and Selling at Pacira BioSciences

In other Pacira BioSciences news, insider Jonathan Slonin sold 3,040 shares of the firm’s stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $23.23, for a total value of $70,619.20. Following the sale, the insider owned 216,384 shares of the company’s stock, valued at $5,026,600.32. This trade represents a 1.39% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Lauren Riker sold 6,000 shares of Pacira BioSciences stock in a transaction dated Thursday, October 8th. The shares were sold at an average price of $36.32, for a total value of $217,920.00. Following the sale, the senior vice president owned 62,284 shares of the company’s stock, valued at approximately $2,262,154.88. This trade represents a 8.79% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 6.40% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Integrated Wealth Concepts LLC raised its stake in Pacira BioSciences by 8.6% in the second quarter. Integrated Wealth Concepts LLC now owns 43,764 shares of the company’s stock valued at $1,110,000 after purchasing an additional 3,482 shares in the last quarter. Baird Financial Group Inc. bought a new position in shares of Pacira BioSciences in the 2nd quarter worth $213,000. Amundi raised its position in shares of Pacira BioSciences by 16.2% during the 2nd quarter. Amundi now owns 15,894 shares of the company’s stock valued at $403,000 after buying an additional 2,210 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in shares of Pacira BioSciences during the 2nd quarter valued at $851,000. Finally, Three Seasons Wealth LLC raised its position in shares of Pacira BioSciences by 43.6% during the 2nd quarter. Three Seasons Wealth LLC now owns 62,942 shares of the company’s stock valued at $1,597,000 after buying an additional 19,107 shares in the last quarter. 99.73% of the stock is currently owned by institutional investors.

More Pacira BioSciences News

Here are the key news stories impacting Pacira BioSciences this week:

• Positive Sentiment: Viatris agreed to buy Pacira for $36.50 per share in cash, valuing the equity at approximately $1.65 billion. The transaction gives shareholders a defined exit price and is expected to close by the end of 2026, subject to customary conditions. Viatris acquisition announcement
• Positive Sentiment: Viatris will add Pacira’s marketed non-opioid pain therapies, EXPAREL and ZILRETTA, along with a clinical-stage gene therapy candidate. Viatris expects the deal to expand its pain portfolio and be immediately accretive to its financial guidance metrics.
• Neutral Sentiment: RBC said a superior competing bid is unlikely, reducing the prospect of a higher offer but also lowering takeover uncertainty. The stock’s upside is therefore largely capped near the $36.50 consideration unless another bidder emerges. RBC superior bid analysis
• Neutral Sentiment: Analyst actions largely reflect the announced deal: JPMorgan upgraded PCRX to neutral, while RBC and Truist raised targets to $36.50 and maintained sector perform or hold ratings. HC Wainwright maintained neutral with a $36.50 target, and Jefferies kept hold with a $36.00 target.
• Negative Sentiment: Several shareholder-rights law firms are investigating whether Pacira’s board obtained fair value and conducted an adequate sale process. These investigations could create legal or procedural distractions, although no wrongdoing has been established. Shareholder investigation

About Pacira BioSciences

Pacira BioSciences, Inc is a specialty pharmaceutical company focused on developing and commercializing non-opioid pain-management products. The company’s portfolio is designed to help manage acute and chronic pain while reducing reliance on traditional opioid therapies.

Its principal product is EXPAREL, an extended-release formulation of bupivacaine used to provide postsurgical pain relief. Pacira also markets ZILRETTA, an extended-release corticosteroid injection for osteoarthritis-related knee pain, and the iovera° system, a handheld cryoanalgesia device intended to temporarily block peripheral nerves and provide targeted pain relief.

Originally known as Pacira Pharmaceuticals, the company adopted the name Pacira BioSciences in 2018 to reflect its broader focus on innovative therapies and technologies.