Pacira BioSciences (NASDAQ:PCRX) Earns “Buy” Rating from Needham & Company LLC

Needham & Company LLC reaffirmed their buy rating on shares of Pacira BioSciences (NASDAQ:PCRX) in a research report report published on Tuesday morning, Benzinga reports. Needham & Company LLC currently has a $43.00 price target on the stock.

PCRX has been the subject of several other reports. Barclays decreased their price target on shares of Pacira BioSciences from $40.00 to $38.00 and set an overweight rating for the company in a report on Wednesday, May 8th. HC Wainwright restated a buy rating and set a $57.00 price target on shares of Pacira BioSciences in a report on Wednesday, May 8th. Finally, JPMorgan Chase & Co. began coverage on shares of Pacira BioSciences in a report on Thursday, March 7th. They set an overweight rating and a $45.00 price target for the company. One research analyst has rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of Moderate Buy and an average price target of $46.10.

Pacira BioSciences Stock Performance

Shares of PCRX opened at $21.66 on Tuesday. Pacira BioSciences has a one year low of $20.52 and a one year high of $40.16. The company has a 50-day moving average of $28.53 and a two-hundred day moving average of $29.67. The stock has a market cap of $1.01 billion, a price-to-earnings ratio of 15.15 and a beta of 0.88. The company has a debt-to-equity ratio of 0.57, a current ratio of 5.81 and a quick ratio of 4.78.

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

Insider Activity at Pacira BioSciences

In related news, COO Daryl Gaugler sold 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $28.38, for a total transaction of $28,380.00. Following the transaction, 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 available through this hyperlink. In other news, insider Jonathan Slonin sold 5,012 shares of Pacira BioSciences stock in a transaction that occurred on Tuesday, June 11th. The shares were 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 of the company’s stock, valued at $1,273,336.33. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, COO Daryl Gaugler sold 1,000 shares of Pacira BioSciences stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $28.38, for a total transaction of $28,380.00. Following the completion of the transaction, the chief operating officer now directly owns 116,040 shares in the company, valued at approximately $3,293,215.20. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 21,150 shares of company stock valued at $602,170. 6.40% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Pacira BioSciences

Institutional investors have recently modified their holdings of the company. ICA Group Wealth Management LLC bought a new position in shares of Pacira BioSciences in the fourth quarter valued at approximately $30,000. GAMMA Investing LLC raised its position in shares of Pacira BioSciences by 229.6% in the second quarter. GAMMA Investing LLC now owns 1,338 shares of the company’s stock valued at $38,000 after purchasing an additional 932 shares during the period. Park Place Capital Corp bought a new position in shares of Pacira BioSciences in the second quarter valued at approximately $46,000. Quadrant Capital Group LLC raised its position in shares of Pacira BioSciences by 61.5% in the fourth quarter. Quadrant Capital Group LLC now owns 2,324 shares of the company’s stock valued at $78,000 after purchasing an additional 885 shares during the period. Finally, Cape Investment Advisory Inc. bought a new position in shares of Pacira BioSciences in the fourth quarter valued at approximately $97,000. Institutional investors own 99.73% of the company’s stock.

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.