Pacira Biosciences (NASDAQ:PCRX) Earns “Hold” Rating from Cowen

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Cowen reaffirmed their hold rating on shares of Pacira Biosciences (NASDAQ:PCRX) in a research note published on Thursday, AnalystRatings.com reports. They currently have a $41.00 price target on the stock.

Other equities research analysts also recently issued research reports about the company. BTIG Research assumed coverage on Pacira Biosciences in a report on Wednesday. They set a buy rating and a $56.00 price target on the stock. Zacks Investment Research upgraded Pacira Biosciences from a sell rating to a hold rating and set a $47.00 price target on the stock in a report on Friday, August 2nd. Jefferies Financial Group set a $60.00 price objective on Pacira Biosciences and gave the company a buy rating in a report on Tuesday, October 8th. BMO Capital Markets dropped their price objective on Pacira Biosciences from $46.00 to $43.00 and set a market perform rating on the stock in a report on Friday, August 9th. Finally, BidaskClub upgraded Pacira Biosciences from a sell rating to a hold rating in a report on Wednesday. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the stock. The company has a consensus rating of Hold and a consensus target price of $52.55.

NASDAQ PCRX traded up $1.40 on Thursday, reaching $44.02. 711,200 shares of the company were exchanged, compared to its average volume of 631,161. The business’s fifty day moving average price is $39.20 and its 200 day moving average price is $41.12. The company has a current ratio of 4.75, a quick ratio of 4.12 and a debt-to-equity ratio of 0.99. Pacira Biosciences has a fifty-two week low of $34.64 and a fifty-two week high of $50.90. The stock has a market capitalization of $1.76 billion, a P/E ratio of 151.79, a price-to-earnings-growth ratio of 1.96 and a beta of 1.13.

Pacira Biosciences (NASDAQ:PCRX) last issued its quarterly earnings results on Thursday, November 7th. The company reported $0.48 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.13 by $0.35. Pacira Biosciences had a return on equity of 8.62% and a net margin of 2.04%. The company had revenue of $104.69 million for the quarter, compared to the consensus estimate of $104.88 million. During the same quarter in the prior year, the business earned $0.31 EPS. Pacira Biosciences’s revenue was up 25.5% on a year-over-year basis. Equities research analysts forecast that Pacira Biosciences will post 0.63 earnings per share for the current year.

In other news, CEO David M. Stack sold 12,849 shares of the stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $39.15, for a total value of $503,038.35. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Kristen Marie Williams sold 6,252 shares of the stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $39.49, for a total value of $246,891.48. The disclosure for this sale can be found here. Corporate insiders own 5.80% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Stephens Inc. AR boosted its position in shares of Pacira Biosciences by 1.8% in the 3rd quarter. Stephens Inc. AR now owns 15,935 shares of the company’s stock valued at $607,000 after purchasing an additional 287 shares during the period. US Bancorp DE boosted its position in shares of Pacira Biosciences by 9.4% in the 2nd quarter. US Bancorp DE now owns 4,373 shares of the company’s stock valued at $190,000 after purchasing an additional 375 shares during the period. Steward Partners Investment Advisory LLC boosted its position in shares of Pacira Biosciences by 23.0% in the 3rd quarter. Steward Partners Investment Advisory LLC now owns 2,029 shares of the company’s stock valued at $77,000 after purchasing an additional 379 shares during the period. First Mercantile Trust Co. boosted its position in shares of Pacira Biosciences by 19.5% in the 2nd quarter. First Mercantile Trust Co. now owns 4,463 shares of the company’s stock valued at $194,000 after purchasing an additional 728 shares during the period. Finally, HM Payson & Co. acquired a new stake in shares of Pacira Biosciences in the 2nd quarter valued at about $39,000. 99.13% of the stock is owned by hedge funds and other institutional investors.

Pacira Biosciences Company Profile

Pacira BioSciences, Inc provides non-opioid pain management and regenerative health solutions for health care practitioners and their patients in the United States. The company develops products based on its proprietary DepoFoam product delivery technology that encapsulates drugs without altering their molecular structure.

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Analyst Recommendations for Pacira Biosciences (NASDAQ:PCRX)

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