Barclays Initiates Coverage on Pacira BioSciences (NASDAQ:PCRX)

Barclays initiated coverage on shares of Pacira BioSciences (NASDAQ:PCRX) in a report released on Tuesday, Marketbeat Ratings reports. The brokerage set an “equal weight” rating and a $27.00 price target on the stock. Barclays‘s price objective would suggest a potential upside of 7.23% from the company’s previous close.

A number of other equities research analysts have also recently issued reports on the stock. Truist Financial dropped 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. Weiss Ratings reiterated a “sell (d+)” rating on shares of Pacira BioSciences in a research report on Monday, December 1st. HC Wainwright restated a “buy” rating and set a $38.00 price objective on shares of Pacira BioSciences in a report on Monday, November 17th. Wall Street Zen upgraded shares of Pacira BioSciences from a “buy” rating to a “strong-buy” rating in a report on Saturday, November 8th. Finally, Zacks Research upgraded Pacira BioSciences from a “strong sell” rating to a “hold” rating in a report on Thursday, August 14th. Three research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $28.20.

Pacira BioSciences Trading Up 1.7%

Pacira BioSciences stock opened at $25.18 on Tuesday. The business has a 50 day moving average price of $23.09 and a two-hundred day moving average price of $24.14. 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 stock has a market cap of $1.08 billion, a price-to-earnings ratio of 55.96 and a beta of 0.23. Pacira BioSciences has a 12 month low of $18.17 and a 12 month high of $27.64.

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

Insider Activity at Pacira BioSciences

In other news, insider Jonathan Slonin sold 3,960 shares of the 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 transaction, the insider directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 6.40% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Pacira BioSciences

A number of institutional investors have recently modified their holdings of PCRX. Doma Perpetual Capital Management LLC boosted its stake in shares of Pacira BioSciences by 49.7% in the third quarter. Doma Perpetual Capital Management LLC now owns 2,701,324 shares of the company’s stock valued at $69,613,000 after buying an additional 897,255 shares during the period. Dimensional Fund Advisors LP raised its position in Pacira BioSciences by 0.5% during the 3rd quarter. Dimensional Fund Advisors LP now owns 2,163,473 shares of the company’s stock worth $55,751,000 after purchasing an additional 11,831 shares during the last quarter. Balyasny Asset Management L.P. boosted its stake in shares of Pacira BioSciences by 36.1% in the 2nd quarter. Balyasny Asset Management L.P. now owns 2,130,733 shares of the company’s stock valued at $50,925,000 after purchasing an additional 565,288 shares during the last quarter. American Century Companies Inc. lifted its stake in shares of Pacira BioSciences by 16.6% in the 3rd quarter. American Century Companies Inc. now owns 1,378,513 shares of the company’s stock valued at $35,524,000 after purchasing an additional 196,000 shares during the period. Finally, Alyeska Investment Group L.P. acquired a new stake in shares of Pacira BioSciences during the 1st quarter worth approximately $32,506,000. Institutional investors own 99.73% of the company’s stock.

About Pacira BioSciences

Pacira Biosciences, Inc is a holding company, which engages in the provision of non-opioid pain management and regenerative health solutions to improve patients’ journeys along the neural pain pathway. Its products include EXPAREL, iovera, and DepoFoam. The company was founded in December 2006 and is headquartered in Tampa, FL.