Pacira BioSciences, Inc. (NASDAQ:PCRX) Given Consensus Recommendation of “Hold” by Brokerages

Pacira BioSciences, Inc. (NASDAQ:PCRX) has been assigned a consensus rating of “Hold” from the seven ratings firms that are currently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $29.40.

A number of brokerages have recently commented on PCRX. Wall Street Zen lowered Pacira BioSciences from a “strong-buy” rating to a “buy” rating in a report on Saturday, February 28th. Zacks Research upgraded Pacira BioSciences from a “strong sell” rating to a “hold” rating in a report on Tuesday, April 7th. Weiss Ratings upgraded Pacira BioSciences from a “sell (d)” rating to a “sell (d+)” rating in a report on Wednesday, May 20th. Barclays cut their price target on Pacira BioSciences from $27.00 to $25.00 and set an “equal weight” rating on the stock in a report on Thursday, March 26th. Finally, Needham & Company LLC boosted their price target on Pacira BioSciences from $30.00 to $32.00 and gave the company a “buy” rating in a report on Friday, May 1st.

Insider Activity

In related news, SVP Lauren Riker sold 6,115 shares of the company’s stock in a transaction dated Thursday, June 11th. The stock was sold at an average price of $23.50, for a total transaction of $143,702.50. Following the sale, the senior vice president owned 62,284 shares in the company, valued at approximately $1,463,674. This represents a 8.94% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Shawn Cross sold 12,941 shares of the company’s stock in a transaction dated Thursday, April 23rd. The stock was sold at an average price of $25.16, for a total value of $325,595.56. Following the sale, the chief financial officer owned 105,341 shares in the company, valued at $2,650,379.56. The trade was a 10.94% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 31,115 shares of company stock worth $771,896 in the last quarter. 6.40% of the stock is currently owned by corporate insiders.

Institutional Trading of Pacira BioSciences

Several institutional investors and hedge funds have recently bought and sold shares of PCRX. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Pacira BioSciences by 4.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 27,242 shares of the company’s stock worth $677,000 after acquiring an additional 1,165 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in Pacira BioSciences by 49.9% during the first quarter. Goldman Sachs Group Inc. now owns 1,104,796 shares of the company’s stock worth $27,454,000 after acquiring an additional 367,869 shares in the last quarter. Strs Ohio bought a new stake in Pacira BioSciences during the first quarter worth about $75,000. Marshall Wace LLP bought a new stake in Pacira BioSciences during the second quarter worth about $4,550,000. Finally, Sei Investments Co. raised its holdings in Pacira BioSciences by 35.3% during the second quarter. Sei Investments Co. now owns 25,357 shares of the company’s stock worth $606,000 after acquiring an additional 6,609 shares in the last quarter. Institutional investors own 99.73% of the company’s stock.

Pacira BioSciences Stock Up 3.6%

NASDAQ:PCRX opened at $25.24 on Friday. Pacira BioSciences has a 1 year low of $18.80 and a 1 year high of $27.64. The company has a current ratio of 4.73, a quick ratio of 3.35 and a debt-to-equity ratio of 0.56. The stock has a market cap of $993.19 million, a price-to-earnings ratio of 210.35 and a beta of 0.29. The stock has a 50-day moving average price of $23.58 and a two-hundred day moving average price of $23.24.

Pacira BioSciences (NASDAQ:PCRX) last issued its quarterly earnings results on Thursday, April 30th. The company reported $0.60 EPS for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.01). The firm had revenue of $177.38 million during the quarter, compared to the consensus estimate of $171.80 million. Pacira BioSciences had a net margin of 0.70% and a return on equity of 10.24%. The business’s revenue for the quarter was up 5.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.65 earnings per share. As a group, equities analysts expect that Pacira BioSciences will post 1.94 earnings per share for the current year.

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.