Pacira Biosciences (NASDAQ:PCRX) Upgraded at BidaskClub

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BidaskClub upgraded shares of Pacira Biosciences (NASDAQ:PCRX) from a strong sell rating to a sell rating in a research note issued to investors on Wednesday morning, BidAskClub reports.

Several other analysts have also recently commented on PCRX. Barclays assumed coverage on shares of Pacira Biosciences in a research note on Tuesday, June 11th. They issued an overweight rating and a $52.00 price objective for the company. BMO Capital Markets reduced their price objective on shares of Pacira Biosciences from $46.00 to $43.00 and set a market perform rating for the company in a research note on Friday, August 9th. Wedbush set a $85.00 price objective on shares of Pacira Biosciences and gave the company a buy rating in a research note on Friday, June 28th. Zacks Investment Research upgraded shares of Pacira Biosciences from a sell rating to a hold rating and set a $47.00 price objective for the company in a research note on Friday, August 2nd. Finally, Stifel Nicolaus set a $42.00 price objective on shares of Pacira Biosciences and gave the company a hold rating in a research note on Friday, August 9th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and eight have given a buy rating to the company. The stock currently has a consensus rating of Hold and a consensus price target of $54.13.

Shares of NASDAQ PCRX opened at $37.16 on Wednesday. The company has a quick ratio of 4.12, a current ratio of 4.75 and a debt-to-equity ratio of 0.99. Pacira Biosciences has a 52 week low of $34.64 and a 52 week high of $55.00. The firm has a 50-day moving average price of $38.72 and a 200 day moving average price of $40.90. The stock has a market capitalization of $1.55 billion, a price-to-earnings ratio of 56.30, a price-to-earnings-growth ratio of 1.67 and a beta of 1.13.

Pacira Biosciences (NASDAQ:PCRX) last announced its quarterly earnings data on Thursday, August 8th. The company reported $0.41 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.14 by $0.27. Pacira Biosciences had a net margin of 2.04% and a return on equity of 8.62%. The firm had revenue of $102.60 million during the quarter, compared to analysts’ expectations of $99.92 million. During the same quarter last year, the business earned $0.24 earnings per share. The business’s revenue for the quarter was up 22.0% compared to the same quarter last year. Equities research analysts expect that Pacira Biosciences will post 0.66 EPS for the current fiscal year.

In other Pacira Biosciences news, CEO David M. Stack sold 13,115 shares of the firm’s stock in a transaction dated Monday, July 8th. The shares were sold at an average price of $42.88, for a total transaction of $562,371.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO David M. Stack sold 12,849 shares of the firm’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $39.15, for a total transaction of $503,038.35. The disclosure for this sale can be found here. Insiders have sold a total of 32,216 shares of company stock valued at $1,312,301 over the last 90 days. 5.80% of the stock is currently owned by insiders.

A number of large investors have recently bought and sold shares of the business. Atria Investments LLC purchased a new position in Pacira Biosciences during the 2nd quarter valued at about $209,000. Paulson & CO. Inc. increased its holdings in Pacira Biosciences by 283.6% during the 2nd quarter. Paulson & CO. Inc. now owns 958,997 shares of the company’s stock valued at $41,707,000 after acquiring an additional 708,997 shares in the last quarter. Royal Bank of Canada increased its holdings in Pacira Biosciences by 67.9% during the 2nd quarter. Royal Bank of Canada now owns 28,888 shares of the company’s stock valued at $1,257,000 after acquiring an additional 11,682 shares in the last quarter. HM Payson & Co. purchased a new position in Pacira Biosciences during the 2nd quarter valued at about $39,000. Finally, Pictet Asset Management Ltd. increased its holdings in Pacira Biosciences by 31.1% during the 2nd quarter. Pictet Asset Management Ltd. now owns 251,750 shares of the company’s stock valued at $10,949,000 after acquiring an additional 59,750 shares in the last quarter.

About Pacira Biosciences

Pacira BioSciences, Inc provides non-opioid pain management and regenerative health solutions for health care practitioners and their patients in the United States. The company develops products based on its proprietary DepoFoam product delivery technology that encapsulates drugs without altering their molecular structure.

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