Pacira BioSciences, Inc. (NASDAQ:PCRX) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of Pacira BioSciences, Inc. (NASDAQ:PCRXGet Rating) have earned a consensus recommendation of “Moderate Buy” from the eleven analysts that are covering the firm, Marketbeat reports. Two analysts have rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $77.33.

A number of equities research analysts recently issued reports on the stock. Needham & Company LLC lowered their target price on shares of Pacira BioSciences from $76.00 to $74.00 and set a “buy” rating for the company in a report on Thursday, November 3rd. Wedbush reiterated an “outperform” rating and set a $94.00 price objective on shares of Pacira BioSciences in a research note on Wednesday, September 21st. HC Wainwright decreased their price objective on shares of Pacira BioSciences from $83.00 to $76.00 and set a “buy” rating for the company in a research note on Friday, November 4th. Piper Sandler decreased their price objective on shares of Pacira BioSciences from $84.00 to $80.00 and set an “overweight” rating for the company in a research note on Thursday, July 21st. Finally, Jefferies Financial Group started coverage on shares of Pacira BioSciences in a research note on Friday, October 21st. They set a “buy” rating and a $66.00 price objective for the company.

Insider Activity at Pacira BioSciences

In related news, insider Max Reinhardt sold 1,380 shares of the company’s stock in a transaction on Friday, October 7th. The shares were sold at an average price of $58.00, for a total value of $80,040.00. Following the sale, the insider now directly owns 31,378 shares of the company’s stock, valued at $1,819,924. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 6.10% of the stock is currently owned by corporate insiders.

Institutional Trading of Pacira BioSciences

A number of institutional investors and hedge funds have recently modified their holdings of PCRX. Vanguard Group Inc. increased its holdings in shares of Pacira BioSciences by 1.1% in the 3rd quarter. Vanguard Group Inc. now owns 4,868,445 shares of the company’s stock worth $258,953,000 after acquiring an additional 55,188 shares during the period. Renaissance Technologies LLC increased its holdings in shares of Pacira BioSciences by 5.6% in the 2nd quarter. Renaissance Technologies LLC now owns 1,965,497 shares of the company’s stock worth $114,588,000 after acquiring an additional 104,500 shares during the period. Armistice Capital LLC increased its holdings in shares of Pacira BioSciences by 168.9% in the 3rd quarter. Armistice Capital LLC now owns 1,592,000 shares of the company’s stock worth $84,678,000 after acquiring an additional 1,000,000 shares during the period. Loomis Sayles & Co. L P increased its holdings in shares of Pacira BioSciences by 8.6% in the 1st quarter. Loomis Sayles & Co. L P now owns 1,293,700 shares of the company’s stock worth $98,736,000 after acquiring an additional 102,986 shares during the period. Finally, Stephens Investment Management Group LLC increased its holdings in shares of Pacira BioSciences by 0.7% in the 2nd quarter. Stephens Investment Management Group LLC now owns 1,168,079 shares of the company’s stock worth $68,099,000 after acquiring an additional 7,864 shares during the period.

Pacira BioSciences Stock Performance

NASDAQ:PCRX opened at $50.00 on Friday. The firm has a 50 day simple moving average of $53.40 and a 200-day simple moving average of $56.48. The company has a debt-to-equity ratio of 0.93, a current ratio of 4.06 and a quick ratio of 3.32. The firm has a market cap of $2.29 billion, a PE ratio of 121.95 and a beta of 0.78. Pacira BioSciences has a 1-year low of $47.40 and a 1-year high of $82.16.

Pacira BioSciences (NASDAQ:PCRXGet Rating) last released its earnings results on Thursday, November 3rd. The company reported $0.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.40 by $0.02. Pacira BioSciences had a net margin of 3.19% and a return on equity of 12.34%. The firm had revenue of $167.47 million during the quarter, compared to the consensus estimate of $167.30 million. On average, equities analysts expect that Pacira BioSciences will post 1.96 EPS for the current year.

Pacira BioSciences Company Profile

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Pacira BioSciences, Inc provides non-opioid pain management and regenerative health solutions for healthcare practitioners and their patients in the United States. The company offers EXPAREL, a bupivacaine liposome injectable suspension; ZILRETTA, a triamcinolone acetonide extended-release injectable suspension; and iovera system, a non-opioid handheld cryoanalgesia device used to produce controlled doses of cold temperature only to targeted nerves.

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Analyst Recommendations for Pacira BioSciences (NASDAQ:PCRX)

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