Pacira BioSciences, Inc. (NASDAQ:PCRX) Receives $28.20 Average Price Target from Analysts

Shares of Pacira BioSciences, Inc. (NASDAQ:PCRX) have been assigned an average rating of “Hold” from the seven ratings firms that are presently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, three have given a hold recommendation and three have assigned a buy recommendation to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $28.20.

Several research analysts have recently issued reports on the stock. HC Wainwright reiterated a “buy” rating and issued a $38.00 price objective on shares of Pacira BioSciences in a report on Friday. Wall Street Zen upgraded shares of Pacira BioSciences from a “buy” rating to a “strong-buy” rating in a report on Saturday, November 8th. Weiss Ratings restated a “sell (d+)” rating on shares of Pacira BioSciences in a research report on Monday, December 29th. Needham & Company LLC reiterated a “buy” rating and set a $30.00 price objective on shares of Pacira BioSciences in a report on Friday. Finally, Barclays started coverage on shares of Pacira BioSciences in a research note on Tuesday, December 9th. They set an “equal weight” rating and a $27.00 price target on the stock.

Pacira BioSciences Stock Down 9.6%

Pacira BioSciences stock opened at $23.53 on Friday. The company has a 50-day simple moving average of $24.53 and a 200-day simple moving average of $24.23. The firm has a market capitalization of $1.01 billion, a P/E ratio of 52.29 and a beta of 0.22. The company has a debt-to-equity ratio of 0.52, a quick ratio of 3.78 and a current ratio of 5.26. Pacira BioSciences has a one year low of $19.81 and a one year high of $27.64.

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

Insider Activity

In other Pacira BioSciences news, insider Jonathan Slonin sold 3,960 shares of the business’s stock in a transaction on Monday, November 17th. The shares were sold at an average price of $24.09, for a total transaction of $95,396.40. Following the completion of the transaction, the insider owned 178,367 shares of the company’s stock, valued at $4,296,861.03. The trade was a 2.17% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Shawn Cross sold 15,896 shares of the firm’s stock in a transaction dated Tuesday, December 9th. The shares were sold at an average price of $25.03, for a total value of $397,876.88. Following the completion of the sale, the chief financial officer directly owned 56,250 shares in the company, valued at approximately $1,407,937.50. This represents a 22.03% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 34,336 shares of company stock valued at $851,868 over the last 90 days. 6.40% of the stock is currently owned by company insiders.

Institutional Trading of Pacira BioSciences

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Doma Perpetual Capital Management LLC lifted its holdings in shares of Pacira BioSciences by 49.7% during the third quarter. Doma Perpetual Capital Management LLC now owns 2,701,324 shares of the company’s stock worth $69,613,000 after buying an additional 897,255 shares during the last quarter. Dimensional Fund Advisors LP increased its position in Pacira BioSciences by 0.5% during the third quarter. Dimensional Fund Advisors LP now owns 2,163,473 shares of the company’s stock worth $55,751,000 after acquiring an additional 11,831 shares during the period. Balyasny Asset Management L.P. raised its stake in Pacira BioSciences by 36.1% during the 2nd quarter. Balyasny Asset Management L.P. now owns 2,130,733 shares of the company’s stock valued at $50,925,000 after purchasing an additional 565,288 shares during the last quarter. American Century Companies Inc. boosted its holdings in Pacira BioSciences by 16.6% in the 3rd quarter. American Century Companies Inc. now owns 1,378,513 shares of the company’s stock valued at $35,524,000 after purchasing an additional 196,000 shares during the period. Finally, Geode Capital Management LLC grew its position in Pacira BioSciences by 0.5% in the 2nd quarter. Geode Capital Management LLC now owns 1,143,190 shares of the company’s stock worth $27,326,000 after purchasing an additional 5,658 shares during the last quarter. Institutional investors and hedge funds own 99.73% of the company’s stock.

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.