Pacira BioSciences’ (PCRX) “Buy” Rating Reaffirmed at HC Wainwright

Pacira BioSciences (NASDAQ:PCRX)‘s stock had its “buy” rating reissued by equities research analysts at HC Wainwright in a research report issued to clients and investors on Tuesday, Benzinga reports. They presently have a $57.00 price objective on the stock. HC Wainwright’s target price points to a potential upside of 153.45% from the company’s previous close.

Other equities analysts have also recently issued research reports about the stock. Barclays dropped their price target on shares of Pacira BioSciences from $40.00 to $38.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 8th. Needham & Company LLC reiterated a “buy” rating and set a $43.00 price target on shares of Pacira BioSciences in a report on Tuesday. Finally, JPMorgan Chase & Co. began coverage on Pacira BioSciences in a research report on Thursday, March 7th. They issued an “overweight” rating and a $45.00 price target for the company. Eleven investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $47.40.

Pacira BioSciences Stock Down 21.0 %

Pacira BioSciences stock traded down $5.97 during mid-day trading on Tuesday, reaching $22.49. The stock had a trading volume of 7,048,262 shares, compared to its average volume of 686,161. The company has a debt-to-equity ratio of 0.57, a quick ratio of 4.78 and a current ratio of 5.81. Pacira BioSciences has a fifty-two week low of $20.52 and a fifty-two week high of $40.45. The stock’s 50-day simple moving average is $28.77 and its 200-day simple moving average is $29.84. The firm has a market capitalization of $1.05 billion, a PE ratio of 15.73 and a beta of 0.88.

Pacira BioSciences (NASDAQ:PCRX) last posted its quarterly earnings results on Tuesday, May 7th. The company reported $0.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.46 by ($0.04). The business had revenue of $167.12 million during the quarter, compared to analyst estimates of $165.43 million. Pacira BioSciences had a net margin of 10.34% and a return on equity of 12.98%. On average, sell-side analysts forecast that Pacira BioSciences will post 2.13 EPS for the current fiscal year.

Insider Activity at Pacira BioSciences

In other Pacira BioSciences news, COO Daryl Gaugler sold 1,000 shares of Pacira BioSciences stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $28.38, for a total value of $28,380.00. Following the sale, the chief operating officer now owns 116,040 shares of the company’s stock, valued at $3,293,215.20. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, insider Jonathan Slonin sold 5,012 shares of the company’s stock in a transaction that occurred on Tuesday, June 11th. The stock was sold at an average price of $28.57, for a total value of $143,192.84. Following the transaction, the insider now owns 44,569 shares in the company, valued at $1,273,336.33. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Daryl Gaugler sold 1,000 shares of the firm’s stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $28.38, for a total value of $28,380.00. Following the completion of the sale, the chief operating officer now directly owns 116,040 shares of the company’s stock, valued at $3,293,215.20. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 18,314 shares of company stock worth $522,053. 6.40% of the stock is owned by company insiders.

Institutional Investors Weigh In On Pacira BioSciences

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. ICA Group Wealth Management LLC bought a new position in Pacira BioSciences during the fourth quarter worth about $30,000. Quadrant Capital Group LLC lifted its stake in shares of Pacira BioSciences by 61.5% during the 4th quarter. Quadrant Capital Group LLC now owns 2,324 shares of the company’s stock valued at $78,000 after buying an additional 885 shares in the last quarter. Natixis purchased a new position in Pacira BioSciences in the 1st quarter valued at approximately $95,000. Cape Investment Advisory Inc. purchased a new position in Pacira BioSciences in the 4th quarter valued at approximately $97,000. Finally, SG Americas Securities LLC purchased a new stake in shares of Pacira BioSciences during the first quarter worth $106,000. 99.73% of the stock is currently owned by institutional investors.

About Pacira BioSciences

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.