Pacira BioSciences (NASDAQ:PCRX) Earns Buy Rating from HC Wainwright

Pacira BioSciences (NASDAQ:PCRX)‘s stock had its “buy” rating restated by equities researchers at HC Wainwright in a note issued to investors on Friday,Benzinga reports. They presently have a $38.00 price target on the stock. HC Wainwright’s price objective would indicate a potential upside of 61.50% from the company’s current price.

PCRX has been the topic of a number of other research reports. Wall Street Zen raised shares of Pacira BioSciences from a “buy” rating to a “strong-buy” rating in a research note on Saturday, November 8th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Pacira BioSciences in a report on Monday, December 29th. Barclays initiated coverage on Pacira BioSciences in a research note on Tuesday, December 9th. They set an “equal weight” rating and a $27.00 price objective on the stock. Finally, Truist Financial decreased their target price on Pacira BioSciences from $30.00 to $28.00 and set a “buy” rating for the company in a research report on Friday, November 7th. Three analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Pacira BioSciences currently has an average rating of “Hold” and a consensus price target of $28.20.

Pacira BioSciences Stock Performance

NASDAQ PCRX opened at $23.53 on Friday. The company has a debt-to-equity ratio of 0.52, a current ratio of 5.26 and a quick ratio of 3.78. Pacira BioSciences has a 1-year low of $19.81 and a 1-year high of $27.64. The firm has a market capitalization of $1.01 billion, a P/E ratio of 52.29 and a beta of 0.22. The business’s 50-day simple moving average is $24.53 and its 200-day simple moving average is $24.23.

Pacira BioSciences (NASDAQ:PCRX) last posted its earnings results on Thursday, November 6th. The company reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.65 by $0.05. The firm had revenue of $179.52 million during the quarter, compared to the consensus estimate of $182.86 million. Pacira BioSciences had a net margin of 2.99% and a return on equity of 12.82%. The company’s revenue was up 6.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.79 EPS. Equities analysts predict that Pacira BioSciences will post 2.41 EPS for the current year.

Insiders Place Their Bets

In other Pacira BioSciences news, CFO Shawn Cross sold 15,896 shares of the company’s stock in a transaction dated Tuesday, December 9th. The shares were sold at an average price of $25.03, for a total value of $397,876.88. Following the completion of the transaction, the chief financial officer directly owned 56,250 shares of the company’s stock, valued at $1,407,937.50. This represents a 22.03% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Jonathan Slonin sold 3,960 shares of the firm’s stock in a transaction dated Monday, November 17th. The shares were sold at an average price of $24.09, for a total value of $95,396.40. Following the sale, the insider owned 178,367 shares of the company’s stock, valued at $4,296,861.03. This represents a 2.17% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 34,336 shares of company stock worth $851,868 in the last quarter. 6.40% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Pacira BioSciences

Hedge funds and other institutional investors have recently bought and sold shares of the business. Hantz Financial Services Inc. boosted its stake in shares of Pacira BioSciences by 175.4% during the 3rd quarter. Hantz Financial Services Inc. now owns 1,132 shares of the company’s stock valued at $29,000 after buying an additional 721 shares during the last quarter. Tidemark LLC acquired a new stake in Pacira BioSciences in the third quarter valued at $56,000. Strs Ohio bought a new position in Pacira BioSciences during the 1st quarter valued at $75,000. iSAM Funds UK Ltd bought a new position in Pacira BioSciences during the 3rd quarter valued at $80,000. Finally, PNC Financial Services Group Inc. grew its holdings in Pacira BioSciences by 17.8% during the 2nd quarter. PNC Financial Services Group Inc. now owns 3,511 shares of the company’s stock worth $84,000 after acquiring an additional 531 shares in the last quarter. 99.73% of the stock is currently owned by hedge funds and other institutional investors.

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.