Pacira BioSciences (NASDAQ:PCRX) Earns “Buy” Rating from Needham & Company LLC

Pacira BioSciences (NASDAQ:PCRX)‘s stock had its “buy” rating reiterated by investment analysts at Needham & Company LLC in a research report issued to clients and investors on Friday,Benzinga reports. They currently have a $30.00 price objective on the stock. Needham & Company LLC’s price target suggests a potential upside of 27.50% from the stock’s current price.

Several other analysts also recently weighed in on the company. Barclays assumed coverage on Pacira BioSciences in a research note on Tuesday, December 9th. They set an “equal weight” rating and a $27.00 target price on the stock. Weiss Ratings reissued a “sell (d+)” rating on shares of Pacira BioSciences in a report on Monday, December 29th. Wall Street Zen upgraded shares of Pacira BioSciences from a “buy” rating to a “strong-buy” rating in a research note on Saturday, November 8th. Truist Financial decreased their target price on shares of Pacira BioSciences from $30.00 to $28.00 and set a “buy” rating for the company in a research report on Friday, November 7th. Finally, HC Wainwright reissued a “buy” rating and set a $38.00 target price on shares of Pacira BioSciences in a research note on Friday. Three equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Pacira BioSciences presently has an average rating of “Hold” and an average target price of $28.20.

Pacira BioSciences Trading Down 9.6%

Pacira BioSciences stock opened at $23.53 on Friday. Pacira BioSciences has a 52-week low of $19.81 and a 52-week high of $27.64. The company has a quick ratio of 3.78, a current ratio of 5.26 and a debt-to-equity ratio of 0.52. The firm has a market capitalization of $1.01 billion, a price-to-earnings ratio of 52.29 and a beta of 0.22. The firm has a 50-day moving average price of $24.53 and a two-hundred day moving average price of $24.23.

Pacira BioSciences (NASDAQ:PCRX) last announced its quarterly earnings results on Thursday, November 6th. The company reported $0.70 EPS for the quarter, beating the consensus estimate of $0.65 by $0.05. The company had revenue of $179.52 million for the quarter, compared to analyst estimates of $182.86 million. Pacira BioSciences had a net margin of 2.99% and a return on equity of 12.82%. Pacira BioSciences’s revenue was up 6.5% compared to the same quarter last year. During the same quarter last year, the business earned $0.79 earnings per share. Sell-side analysts expect that Pacira BioSciences will post 2.41 earnings per share for the current year.

Insider Buying and Selling at Pacira BioSciences

In other Pacira BioSciences news, CFO Shawn Cross sold 15,896 shares of the company’s stock in a transaction on Tuesday, December 9th. The stock was sold at an average price of $25.03, for a total value of $397,876.88. Following the transaction, the chief financial officer owned 56,250 shares of the company’s stock, valued at approximately $1,407,937.50. This represents a 22.03% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Lauren Riker sold 1,416 shares of the stock in a transaction on Monday, January 5th. The shares were sold at an average price of $24.24, for a total value of $34,323.84. Following the sale, the senior vice president owned 59,064 shares of the company’s stock, valued at $1,431,711.36. This trade represents a 2.34% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 34,336 shares of company stock valued at $851,868. Corporate insiders own 6.40% of the company’s stock.

Hedge Funds Weigh In On Pacira BioSciences

A number of institutional investors have recently bought and sold shares of the stock. Hantz Financial Services Inc. raised its holdings in Pacira BioSciences by 175.4% during the 3rd quarter. Hantz Financial Services Inc. now owns 1,132 shares of the company’s stock worth $29,000 after buying an additional 721 shares during the period. Tidemark LLC acquired a new position in shares of Pacira BioSciences in the third quarter worth about $56,000. Strs Ohio purchased a new position in shares of Pacira BioSciences in the first quarter worth approximately $75,000. iSAM Funds UK Ltd purchased a new position in shares of Pacira BioSciences in the third quarter worth approximately $80,000. Finally, PNC Financial Services Group Inc. raised its holdings in shares of Pacira BioSciences by 17.8% during the second quarter. PNC Financial Services Group Inc. now owns 3,511 shares of the company’s stock valued at $84,000 after acquiring an additional 531 shares during the period. Hedge funds and other institutional investors own 99.73% of the company’s stock.

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.