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

Shares of Pacira BioSciences, Inc. (NASDAQ:PCRX) have been assigned an average rating of “Buy” from the ten brokerages that are currently covering the stock, Marketbeat reports. Ten research analysts have rated the stock with a buy recommendation. The average 12 month target price among brokers that have covered the stock in the last year is $49.50.

Several research analysts have issued reports on PCRX shares. TheStreet upgraded shares of Pacira BioSciences from a “d+” rating to a “c” rating in a research report on Thursday, February 29th. Wedbush reaffirmed an “outperform” rating and set a $57.00 target price on shares of Pacira BioSciences in a research report on Thursday, February 8th. Royal Bank of Canada reduced their target price on Pacira BioSciences from $53.00 to $45.00 and set an “outperform” rating for the company in a report on Friday, March 1st. HC Wainwright reissued a “buy” rating and issued a $57.00 price target on shares of Pacira BioSciences in a research note on Monday, March 4th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $45.00 price objective on shares of Pacira BioSciences in a research note on Tuesday, April 9th.

Insiders Place Their Bets

In other news, Director Gary W. Pace sold 90,000 shares of the company’s stock in a transaction on Friday, March 8th. The shares were sold at an average price of $30.60, for a total value of $2,754,000.00. Following the transaction, the director now directly owns 22,127 shares of the company’s stock, valued at $677,086.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Gary W. Pace sold 90,000 shares of the business’s stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $30.60, for a total value of $2,754,000.00. Following the completion of the sale, the director now owns 22,127 shares of the company’s stock, valued at approximately $677,086.20. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Gary W. Pace sold 1,066 shares of the stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $29.67, for a total value of $31,628.22. Following the completion of the transaction, the director now owns 140,384 shares in the company, valued at approximately $4,165,193.28. The disclosure for this sale can be found here. Insiders own 6.60% of the company’s stock.

Institutional Investors Weigh In On Pacira BioSciences

A number of large investors have recently bought and sold shares of the business. ICA Group Wealth Management LLC bought a new stake in Pacira BioSciences during the fourth quarter worth approximately $30,000. China Universal Asset Management Co. Ltd. boosted its holdings in shares of Pacira BioSciences by 96.8% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 1,185 shares of the company’s stock worth $36,000 after buying an additional 583 shares during the period. Nisa Investment Advisors LLC grew its stake in Pacira BioSciences by 310.9% in the 3rd quarter. Nisa Investment Advisors LLC now owns 2,001 shares of the company’s stock valued at $61,000 after buying an additional 1,514 shares during the last quarter. Quadrant Capital Group LLC raised its holdings in Pacira BioSciences by 61.5% in the 4th quarter. Quadrant Capital Group LLC now owns 2,324 shares of the company’s stock worth $78,000 after acquiring an additional 885 shares during the period. Finally, Cape Investment Advisory Inc. bought a new position in Pacira BioSciences in the 4th quarter worth $97,000. 99.73% of the stock is currently owned by institutional investors.

Pacira BioSciences Stock Up 2.7 %

PCRX opened at $26.81 on Friday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 4.17 and a current ratio of 5.24. The company has a market capitalization of $1.25 billion, a PE ratio of 33.10 and a beta of 0.76. The stock’s fifty day moving average is $28.91 and its 200-day moving average is $29.73. Pacira BioSciences has a one year low of $25.74 and a one year high of $48.60.

Pacira BioSciences (NASDAQ:PCRX) last issued its quarterly earnings results on Thursday, February 29th. The company reported $0.71 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.71. Pacira BioSciences had a net margin of 6.22% and a return on equity of 12.81%. The company had revenue of $181.24 million during the quarter, compared to the consensus estimate of $180.60 million. On average, equities analysts predict that Pacira BioSciences will post 2.18 EPS for the current fiscal year.

Pacira BioSciences Company Profile

Pacira BioSciences, Inc engages in the development, manufacture, marketing, distribution, and sale of non-opioid pain management and regenerative health solutions to healthcare practitioners in the United States. The company offers EXPAREL, a bupivacaine liposome injectable suspension; ZILRETTA, a triamcinolone acetonide extended-release injectable suspension; and iovera system, a non-opioid handheld cryoanalgesia device used to produce controlled doses of cold temperature to targeted nerves.