Needham & Company LLC Reiterates Buy Rating for Pacira BioSciences (NASDAQ:PCRX)

Pacira BioSciences (NASDAQ:PCRX)‘s stock had its “buy” rating restated by equities researchers at Needham & Company LLC in a research note issued to investors on Wednesday, Benzinga reports. They presently have a $43.00 price objective on the stock. Needham & Company LLC’s target price points to a potential upside of 120.06% from the company’s current price.

A number of other brokerages have also issued reports on PCRX. Barclays lowered shares of Pacira BioSciences from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $38.00 to $25.00 in a research report on Wednesday, July 3rd. Piper Sandler reiterated an “overweight” rating and issued a $42.00 price target on shares of Pacira BioSciences in a report on Wednesday, July 3rd. Truist Financial decreased their price target on shares of Pacira BioSciences from $45.00 to $30.00 and set a “buy” rating on the stock in a report on Thursday, July 25th. Finally, HC Wainwright reissued a “buy” rating and issued a $57.00 target price on shares of Pacira BioSciences in a research report on Tuesday, July 2nd. One analyst has rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $43.60.

Pacira BioSciences Trading Down 4.0 %

Shares of PCRX opened at $19.54 on Wednesday. The company has a debt-to-equity ratio of 0.57, a current ratio of 5.81 and a quick ratio of 4.78. The firm has a 50 day simple moving average of $25.59 and a 200-day simple moving average of $28.04. Pacira BioSciences has a 1-year low of $19.34 and a 1-year high of $40.16. The stock has a market cap of $909.59 million, a price-to-earnings ratio of 13.66 and a beta of 0.88.

Pacira BioSciences (NASDAQ:PCRX) last issued its quarterly earnings data on Tuesday, May 7th. The company reported $0.42 earnings per share for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.04). Pacira BioSciences had a return on equity of 12.98% and a net margin of 10.34%. The business had revenue of $167.12 million for the quarter, compared to analysts’ expectations of $165.43 million. Equities analysts forecast that Pacira BioSciences will post 2.12 EPS for the current fiscal year.

Insider Activity

In related news, SVP Lauren Riker sold 3,970 shares of the firm’s stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $28.72, for a total transaction of $114,018.40. Following the completion of the sale, the senior vice president now directly owns 38,075 shares in the company, valued at $1,093,514. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, COO Daryl Gaugler sold 1,000 shares of the company’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 value of $28,380.00. Following the completion of the sale, the chief operating officer now owns 116,040 shares in the company, valued at approximately $3,293,215.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Lauren Riker sold 3,970 shares of the company’s stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $28.72, for a total transaction of $114,018.40. Following the completion of the sale, the senior vice president now owns 38,075 shares of the company’s stock, valued at approximately $1,093,514. The disclosure for this sale can be found here. Insiders sold 21,150 shares of company stock worth $602,170 over the last three months. Corporate insiders own 6.40% of the company’s stock.

Institutional Investors Weigh In On Pacira BioSciences

Hedge funds have recently made changes to their positions in the company. abrdn plc lifted its position in shares of Pacira BioSciences by 14.3% in the 4th quarter. abrdn plc now owns 448,691 shares of the company’s stock valued at $15,139,000 after acquiring an additional 56,081 shares in the last quarter. Cobalt Capital Management Inc. purchased a new stake in Pacira BioSciences in the 4th quarter worth approximately $3,037,000. National Bank of Canada FI purchased a new stake in Pacira BioSciences in the 4th quarter worth approximately $966,000. Bridge City Capital LLC purchased a new stake in Pacira BioSciences in the 1st quarter worth approximately $1,810,000. Finally, Hillsdale Investment Management Inc. purchased a new stake in Pacira BioSciences in the 4th quarter worth approximately $4,521,000. Hedge funds and other institutional investors own 99.73% of the company’s stock.

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.