Pacira BioSciences (NASDAQ:PCRX) Earns Market Perform Rating from Analysts at Leerink Partners

Leerink Partners started coverage on shares of Pacira BioSciences (NASDAQ:PCRX) in a research report released on Wednesday, MarketBeat.com reports. The firm issued a market perform rating and a $28.00 price objective on the stock.

Several other brokerages have also weighed in on PCRX. 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. Weiss Ratings raised Pacira BioSciences from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Tuesday, September 1st. HC Wainwright restated a “buy” rating and issued a $38.00 target price on shares of Pacira BioSciences in a research note on Wednesday, July 1st. Needham & Company LLC lifted their price objective on Pacira BioSciences from $32.00 to $33.00 and gave the stock a “buy” rating in a report on Wednesday, August 5th. Finally, Truist Financial started coverage on Pacira BioSciences in a report on Monday, August 17th. They issued a “buy” rating and a $30.00 price objective for the company. Three research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $29.83.

Pacira BioSciences Stock Performance

Shares of PCRX stock opened at $25.36 on Wednesday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 3.94 and a current ratio of 5.04. The firm has a market cap of $1.01 billion, a price-to-earnings ratio of 72.46 and a beta of 0.26. Pacira BioSciences has a 52 week low of $18.80 and a 52 week high of $27.66. The firm’s 50-day simple moving average is $25.48 and its two-hundred day simple moving average is $24.10.

Pacira BioSciences (NASDAQ:PCRX) last released its earnings results on Tuesday, August 4th. The company reported $0.73 earnings per share for the quarter, beating analysts’ consensus estimates of $0.65 by $0.08. Pacira BioSciences had a net margin of 1.96% and a return on equity of 9.68%. The firm had revenue of $192.40 million during the quarter, compared to the consensus estimate of $191.06 million. During the same period in the prior year, the firm earned $0.74 EPS. The company’s revenue was up 6.2% compared to the same quarter last year. As a group, equities analysts forecast that Pacira BioSciences will post 1.98 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Jonathan Slonin sold 3,040 shares of the firm’s stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $23.23, for a total value of $70,619.20. Following the completion of the transaction, the insider directly owned 216,384 shares of the company’s stock, valued at approximately $5,026,600.32. This trade represents a 1.39% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 6.40% of the company’s stock.

Institutional Investors Weigh In On Pacira BioSciences

Institutional investors have recently made changes to their positions in the stock. Hillsdale Investment Management Inc. purchased a new position in shares of Pacira BioSciences in the fourth quarter valued at $7,976,000. Wedge Capital Management L L P NC purchased a new stake in Pacira BioSciences during the 2nd quarter worth about $2,399,000. Gagnon Advisors LLC lifted its holdings in Pacira BioSciences by 22.3% during the 4th quarter. Gagnon Advisors LLC now owns 260,908 shares of the company’s stock worth $6,752,000 after purchasing an additional 47,506 shares in the last quarter. LSV Asset Management lifted its holdings in Pacira BioSciences by 179.8% during the 4th quarter. LSV Asset Management now owns 319,800 shares of the company’s stock worth $8,276,000 after purchasing an additional 205,500 shares in the last quarter. Finally, Rice Hall James & Associates LLC bought a new position in Pacira BioSciences in the 2nd quarter worth about $2,369,000. 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.