Pacira BioSciences, Inc. (NASDAQ:PCRX) Receives Average Recommendation of “Hold” from Analysts

Pacira BioSciences, Inc. (NASDAQ:PCRX) has earned an average rating of “Hold” from the seven research firms that are currently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $29.40.

PCRX has been the subject of a number of analyst reports. Zacks Research raised shares of Pacira BioSciences from a “strong sell” rating to a “hold” rating in a report on Tuesday, April 7th. Barclays dropped their price objective on shares of Pacira BioSciences from $27.00 to $25.00 and set an “equal weight” rating for the company in a report on Thursday, March 26th. Wall Street Zen lowered shares of Pacira BioSciences from a “strong-buy” rating to a “buy” rating in a report on Saturday, February 28th. Needham & Company LLC upped their price objective on shares of Pacira BioSciences from $30.00 to $32.00 and gave the company a “buy” rating in a report on Friday, May 1st. Finally, Royal Bank Of Canada upped their price objective on shares of Pacira BioSciences from $22.00 to $24.00 and gave the company a “sector perform” rating in a report on Friday, May 1st.

Insider Activity at Pacira BioSciences

In related news, insider Jonathan Slonin sold 3,261 shares of the stock in a transaction that occurred on Tuesday, March 17th. The stock was sold at an average price of $22.82, for a total value of $74,416.02. Following the completion of the transaction, the insider directly owned 223,640 shares in the company, valued at approximately $5,103,464.80. This represents a 1.44% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Shawn Cross sold 12,941 shares of the stock in a transaction that occurred on Thursday, April 23rd. The stock was sold at an average price of $25.16, for a total value of $325,595.56. Following the completion of the transaction, the chief financial officer owned 105,341 shares of the company’s stock, valued at $2,650,379.56. The trade was a 10.94% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 28,261 shares of company stock valued at $702,610 over the last quarter. 6.40% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Doma Perpetual Capital Management LLC boosted its position 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 period. Balyasny Asset Management L.P. boosted its position in shares of Pacira BioSciences by 36.1% during the second quarter. Balyasny Asset Management L.P. now owns 2,130,733 shares of the company’s stock worth $50,925,000 after buying an additional 565,288 shares during the period. Goldman Sachs Group Inc. boosted its position in shares of Pacira BioSciences by 49.9% during the first 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. Hillsdale Investment Management Inc. purchased a new position in shares of Pacira BioSciences during the fourth quarter worth $7,976,000. Finally, LSV Asset Management boosted its position in shares of Pacira BioSciences by 179.8% during the fourth quarter. LSV Asset Management now owns 319,800 shares of the company’s stock worth $8,276,000 after buying an additional 205,500 shares during the period. Hedge funds and other institutional investors own 99.73% of the company’s stock.

Pacira BioSciences Stock Performance

NASDAQ PCRX opened at $22.75 on Wednesday. Pacira BioSciences has a fifty-two week low of $18.80 and a fifty-two week high of $27.64. The firm has a market capitalization of $895.17 million, a P/E ratio of 189.60 and a beta of 0.29. The stock’s fifty day moving average is $23.56 and its two-hundred day moving average is $23.29. The company has a debt-to-equity ratio of 0.56, a quick ratio of 3.35 and a current ratio of 4.73.

Pacira BioSciences (NASDAQ:PCRX) last posted its quarterly earnings results on Thursday, April 30th. The company reported $0.60 EPS for the quarter, missing the consensus estimate of $0.61 by ($0.01). Pacira BioSciences had a return on equity of 10.24% and a net margin of 0.70%.The company had revenue of $177.38 million for the quarter, compared to analysts’ expectations of $171.80 million. During the same quarter in the prior year, the firm earned $0.65 EPS. The firm’s revenue was up 5.0% on a year-over-year basis. On average, research analysts anticipate that Pacira BioSciences will post 1.91 earnings per share for the current year.

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.