Pacira BioSciences, Inc. (NASDAQ:PCRX) Receives Consensus Rating of “Hold” from Brokerages

Pacira BioSciences, Inc. (NASDAQ:PCRX) has earned a consensus recommendation of “Hold” from the six research firms that are currently covering the company, Marketbeat reports. One analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and three have assigned a buy recommendation to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $30.75.

Several equities research analysts have recently weighed in on PCRX shares. Wall Street Zen raised shares of Pacira BioSciences from a “buy” rating to a “strong-buy” rating in a report on Saturday, November 8th. HC Wainwright restated a “buy” rating and issued a $38.00 price target on shares of Pacira BioSciences in a research report on Friday, January 9th. Barclays began coverage on shares of Pacira BioSciences in a report on Tuesday, December 9th. They set an “equal weight” rating and a $27.00 price objective for the company. Weiss Ratings reissued a “sell (d+)” rating on shares of Pacira BioSciences in a report on Monday, December 29th. Finally, Needham & Company LLC restated a “buy” rating and set a $30.00 price target on shares of Pacira BioSciences in a research report on Friday, January 9th.

Pacira BioSciences Trading Up 2.7%

Shares of PCRX opened at $20.38 on Thursday. The company has a current ratio of 5.26, a quick ratio of 3.78 and a debt-to-equity ratio of 0.52. The stock has a market cap of $876.75 million, a PE ratio of 45.29 and a beta of 0.22. Pacira BioSciences has a 1 year low of $18.80 and a 1 year high of $27.64. The stock has a 50 day simple moving average of $23.87 and a 200-day simple moving average of $23.97.

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

Insiders Place Their Bets

In other news, insider Jonathan Slonin sold 3,960 shares of the stock in a transaction on Monday, November 17th. The stock was sold at an average price of $24.09, for a total transaction of $95,396.40. Following the sale, the insider owned 178,367 shares in the company, valued at approximately $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 is accessible through this link. Also, SVP Lauren Riker sold 1,416 shares of the firm’s 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 completion of the sale, the senior vice president owned 59,064 shares of the company’s stock, valued at approximately $1,431,711.36. This trade represents a 2.34% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 34,336 shares of company stock valued at $851,868. 6.40% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Pacira BioSciences

A number of large investors have recently modified their holdings of PCRX. Hantz Financial Services Inc. increased its holdings in shares of Pacira BioSciences by 175.4% in the third quarter. Hantz Financial Services Inc. now owns 1,132 shares of the company’s stock valued at $29,000 after purchasing an additional 721 shares in the last quarter. Tidemark LLC bought a new position in Pacira BioSciences in the 3rd quarter valued at $56,000. Strs Ohio acquired a new stake in shares of Pacira BioSciences in the 1st quarter valued at $75,000. iSAM Funds UK Ltd acquired a new stake in shares of Pacira BioSciences in the 3rd quarter valued at $80,000. Finally, PNC Financial Services Group Inc. raised its position 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 worth $84,000 after acquiring an additional 531 shares during the last quarter. 99.73% of the stock is currently owned by institutional investors and hedge funds.

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.