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

Shares of Pacira BioSciences, Inc. (NASDAQ:PCRX) have earned a consensus recommendation of “Hold” from the seven analysts that are currently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and three have issued a buy recommendation on the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $28.20.

Several equities analysts have recently weighed in on PCRX shares. Weiss Ratings reissued a “sell (d+)” rating on shares of Pacira BioSciences in a research report on Monday, December 8th. Wall Street Zen upgraded shares of Pacira BioSciences from a “buy” rating to a “strong-buy” rating in a research report on Saturday, November 8th. Barclays assumed coverage on shares of Pacira BioSciences in a research note on Tuesday, December 9th. They issued an “equal weight” rating and a $27.00 target price on the stock. Truist Financial dropped their price target on shares of Pacira BioSciences from $30.00 to $28.00 and set a “buy” rating for the company in a research note on Friday, November 7th. Finally, HC Wainwright reiterated a “buy” rating and set a $38.00 price target on shares of Pacira BioSciences in a report on Monday, November 17th.

Pacira BioSciences Stock Up 2.2%

Shares of NASDAQ PCRX opened at $26.29 on Wednesday. The firm’s 50-day moving average price is $23.14 and its 200-day moving average price is $24.13. The company has a current ratio of 5.26, a quick ratio of 3.78 and a debt-to-equity ratio of 0.52. The stock has a market capitalization of $1.13 billion, a price-to-earnings ratio of 58.42 and a beta of 0.23. Pacira BioSciences has a 12-month low of $18.17 and a 12-month high of $27.64.

Pacira BioSciences (NASDAQ:PCRX) last released its quarterly earnings results on Thursday, November 6th. The company reported $0.70 EPS for the quarter, topping the consensus estimate of $0.65 by $0.05. Pacira BioSciences had a return on equity of 12.82% and a net margin of 2.99%.The company had revenue of $179.52 million during the quarter, compared to analyst estimates of $182.86 million. During the same quarter last year, the business posted $0.79 earnings per share. The firm’s revenue was up 6.5% on a year-over-year basis. On average, equities research analysts anticipate that Pacira BioSciences will post 2.41 EPS for the current fiscal year.

Insider Buying and Selling

In other Pacira BioSciences news, insider Jonathan Slonin sold 3,960 shares of the company’s stock in a transaction on Monday, November 17th. The stock was sold at an average price of $24.09, for a total value of $95,396.40. Following the transaction, the insider owned 178,367 shares of the company’s stock, valued at $4,296,861.03. This represents a 2.17% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Shawn Cross sold 15,896 shares of Pacira BioSciences stock in a transaction on Tuesday, December 9th. The stock was sold at an average price of $25.03, for a total value of $397,876.88. Following the sale, the chief financial officer owned 56,250 shares of the company’s stock, valued at approximately $1,407,937.50. This trade represents a 22.03% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 32,920 shares of company stock worth $817,544. Insiders own 6.40% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Hantz Financial Services Inc. boosted its position in Pacira BioSciences by 175.4% in the 3rd quarter. Hantz Financial Services Inc. now owns 1,132 shares of the company’s stock valued at $29,000 after buying an additional 721 shares during the period. Caitong International Asset Management Co. Ltd bought a new stake in shares of Pacira BioSciences during the first quarter valued at approximately $51,000. Brooklyn Investment Group raised its stake in shares of Pacira BioSciences by 372.2% during the first quarter. Brooklyn Investment Group now owns 2,238 shares of the company’s stock valued at $56,000 after acquiring an additional 1,764 shares in the last quarter. US Bancorp DE boosted its holdings in shares of Pacira BioSciences by 31.0% in the first quarter. US Bancorp DE now owns 2,270 shares of the company’s stock valued at $56,000 after purchasing an additional 537 shares during the period. Finally, Tidemark LLC bought a new position in Pacira BioSciences in the third quarter worth approximately $56,000. Hedge funds and other institutional investors own 99.73% of the company’s stock.

Pacira BioSciences Company Profile

Pacira Biosciences, Inc is a holding company, which engages in the provision of non-opioid pain management and regenerative health solutions to improve patients’ journeys along the neural pain pathway. Its products include EXPAREL, iovera, and DepoFoam. The company was founded in December 2006 and is headquartered in Tampa, FL.