Pacira BioSciences (NASDAQ:PCRX) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Pacira BioSciences (NASDAQ:PCRX) from a buy rating to a strong-buy rating in a research report released on Saturday morning.

PCRX has been the subject of a number of other research reports. Needham & Company LLC increased their price objective on Pacira BioSciences from $32.00 to $33.00 and gave the company a “buy” rating in a research note on Wednesday, August 5th. Royal Bank Of Canada lifted their target price on shares of Pacira BioSciences from $24.00 to $25.00 and gave the stock a “sector perform” rating in a research note on Wednesday, August 5th. Weiss Ratings upgraded shares of Pacira BioSciences from a “sell (d)” rating to a “sell (d+)” rating in a report on Wednesday, May 20th. Finally, HC Wainwright reissued a “buy” rating and set a $38.00 price target on shares of Pacira BioSciences in a research report on Wednesday, July 1st. Three research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Pacira BioSciences presently has a consensus rating of “Hold” and an average target price of $29.80.

Pacira BioSciences Trading Down 2.4%

NASDAQ PCRX opened at $24.43 on Friday. The firm has a market cap of $973.78 million, a PE ratio of 69.80 and a beta of 0.27. Pacira BioSciences has a 1-year low of $18.80 and a 1-year high of $27.66. The stock has a 50-day moving average of $24.72 and a 200-day moving average of $23.47. The company has a current ratio of 5.04, a quick ratio of 3.94 and a debt-to-equity ratio of 0.54.

Pacira BioSciences (NASDAQ:PCRX) last posted its quarterly earnings results on Tuesday, August 4th. The company reported $0.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.65 by $0.08. The business had revenue of $192.40 million for the quarter, compared to analyst estimates of $191.06 million. Pacira BioSciences had a return on equity of 9.68% and a net margin of 1.96%.Pacira BioSciences’s revenue for the quarter was up 6.2% compared to the same quarter last year. During the same period last year, the company earned $0.74 EPS. As a group, sell-side analysts forecast that Pacira BioSciences will post 1.94 EPS for the current year.

Insider Activity at Pacira BioSciences

In related news, SVP Lauren Riker sold 6,115 shares of the company’s stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of $23.50, for a total transaction of $143,702.50. Following the completion of the transaction, the senior vice president owned 62,284 shares in the company, valued at $1,463,674. This represents a 8.94% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 6.40% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP boosted its stake in shares of Pacira BioSciences by 0.5% during the 3rd quarter. Dimensional Fund Advisors LP now owns 2,163,473 shares of the company’s stock valued at $55,751,000 after purchasing an additional 11,831 shares in the last quarter. Balyasny Asset Management L.P. raised its stake in Pacira BioSciences by 36.1% in 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 in the last quarter. Goldman Sachs Group Inc. raised its stake in Pacira BioSciences by 49.9% in 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 in the last quarter. Impax Asset Management Group plc raised its stake in Pacira BioSciences by 25.0% in the fourth quarter. Impax Asset Management Group plc now owns 750,027 shares of the company’s stock worth $19,411,000 after buying an additional 150,000 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Pacira BioSciences by 7.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 676,352 shares of the company’s stock worth $17,504,000 after buying an additional 49,079 shares during the period. 99.73% of the stock is currently owned by institutional investors.

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.