Pacira BioSciences (NASDAQ:PCRX) Given Buy Rating at Needham & Company LLC

Pacira BioSciences (NASDAQ:PCRX)‘s stock had its “buy” rating reissued by research analysts at Needham & Company LLC in a research note issued on Friday,Benzinga reports. They presently have a $30.00 price target on the stock. Needham & Company LLC’s price target points to a potential upside of 15.30% from the stock’s previous close.

A number of other research firms have also commented on PCRX. Wall Street Zen raised Pacira BioSciences from a “buy” rating to a “strong-buy” rating in a research report on Saturday, November 8th. Truist Financial reduced their target price on shares of Pacira BioSciences from $30.00 to $28.00 and set a “buy” rating for the company in a research note on Friday, November 7th. HC Wainwright reissued a “buy” rating and set a $38.00 price target on shares of Pacira BioSciences in a research report on Friday. Weiss Ratings restated a “sell (d+)” rating on shares of Pacira BioSciences in a report on Monday, December 29th. Finally, Barclays assumed coverage on shares of Pacira BioSciences in a research note on Tuesday, December 9th. They issued an “equal weight” rating and a $27.00 price objective for the company. Three equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $28.20.

Pacira BioSciences Trading Up 0.1%

PCRX opened at $26.02 on Friday. Pacira BioSciences has a fifty-two week low of $19.81 and a fifty-two week high of $27.64. The firm has a market capitalization of $1.12 billion, a PE ratio of 57.82 and a beta of 0.22. 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’s 50-day moving average is $24.49 and its 200 day moving average is $24.24.

Pacira BioSciences (NASDAQ:PCRX) last issued its quarterly earnings data on Thursday, November 6th. The company reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.65 by $0.05. The firm had revenue of $179.52 million during the quarter, compared to analyst estimates of $182.86 million. Pacira BioSciences had a return on equity of 12.82% and a net margin of 2.99%.The company’s revenue for the quarter was up 6.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.79 EPS. As a group, research analysts predict that Pacira BioSciences will post 2.41 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Jonathan Slonin sold 3,960 shares of Pacira BioSciences stock in a transaction dated Monday, November 17th. The stock was sold at an average price of $24.09, for a total value of $95,396.40. Following the completion of the sale, 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 position. The sale was disclosed in a legal filing with the SEC, which can be accessed 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 owned 56,250 shares in the company, valued at $1,414,125. This represents a 13.93% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 34,336 shares of company stock valued at $851,868 over the last ninety days. 6.40% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Pacira BioSciences

Several large investors have recently modified their holdings of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in 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 valued at $677,000 after buying an additional 1,165 shares in the last quarter. Goldman Sachs Group Inc. boosted its holdings in shares of Pacira BioSciences by 49.9% in the first quarter. Goldman Sachs Group Inc. now owns 1,104,796 shares of the company’s stock worth $27,454,000 after acquiring an additional 367,869 shares during the period. Empowered Funds LLC grew its position in shares of Pacira BioSciences by 2.1% in the first quarter. Empowered Funds LLC now owns 234,229 shares of the company’s stock valued at $5,821,000 after purchasing an additional 4,744 shares in the last quarter. Strs Ohio purchased a new position in shares of Pacira BioSciences in the first quarter valued at $75,000. Finally, Wealth Enhancement Advisory Services LLC bought a new stake in shares of Pacira BioSciences during the 2nd quarter valued at $215,000. Hedge funds and other institutional investors own 99.73% of the company’s stock.

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.