Pacira BioSciences (NASDAQ:PCRX) Raised to “Strong-Buy” at Wall Street Zen

Pacira BioSciences (NASDAQ:PCRX) was upgraded by research analysts at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a research report issued on Saturday.

Other research analysts also recently issued research reports about the stock. Weiss Ratings raised shares of Pacira BioSciences from a “sell (d)” rating to a “sell (d+)” rating in a research report on Wednesday, May 20th. HC Wainwright restated a “buy” rating and set a $38.00 price objective on shares of Pacira BioSciences in a research note on Wednesday, July 1st. Royal Bank Of Canada upped their target price on shares of Pacira BioSciences from $24.00 to $25.00 and gave the company a “sector perform” rating in a report on Wednesday, August 5th. Finally, Needham & Company LLC lifted their price target on Pacira BioSciences from $32.00 to $33.00 and gave the stock a “buy” rating in a report on Wednesday, August 5th. Three equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $29.80.

Pacira BioSciences Stock Performance

NASDAQ PCRX opened at $25.02 on Friday. The company has a market cap of $997.30 million, a PE ratio of 71.49 and a beta of 0.27. The company has a current ratio of 5.04, a quick ratio of 3.94 and a debt-to-equity ratio of 0.54. Pacira BioSciences has a 12 month low of $18.80 and a 12 month high of $27.66. The stock has a 50 day moving average of $24.69 and a 200-day moving average of $23.43.

Pacira BioSciences (NASDAQ:PCRX) last released its earnings results on Tuesday, August 4th. The company reported $0.73 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.08. The business had revenue of $192.40 million during the quarter, compared to analysts’ expectations of $191.06 million. Pacira BioSciences had a net margin of 1.96% and a return on equity of 9.68%. The firm’s revenue was up 6.2% on a year-over-year basis. During the same period last year, the business earned $0.74 earnings per share. On average, equities research analysts anticipate that Pacira BioSciences will post 1.94 EPS for the current fiscal year.

Insider Buying and Selling

In other Pacira BioSciences news, SVP Lauren Riker sold 6,115 shares of the company’s stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $23.50, for a total value of $143,702.50. Following the transaction, the senior vice president directly owned 62,284 shares in the company, valued at $1,463,674. The trade was a 8.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 6.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Pacira BioSciences

Several large investors have recently modified their holdings of PCRX. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Pacira BioSciences by 4.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 27,242 shares of the company’s stock worth $677,000 after buying an additional 1,165 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in Pacira BioSciences by 49.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,104,796 shares of the company’s stock valued at $27,454,000 after buying an additional 367,869 shares during the last quarter. Strs Ohio bought a new position in Pacira BioSciences in the 1st quarter valued at about $75,000. Marshall Wace LLP bought a new position in Pacira BioSciences in the 2nd quarter valued at about $4,550,000. Finally, Sei Investments Co. lifted its position in Pacira BioSciences by 35.3% during the second quarter. Sei Investments Co. now owns 25,357 shares of the company’s stock worth $606,000 after acquiring an additional 6,609 shares during the last quarter. 99.73% of the stock is owned by institutional investors.

About Pacira BioSciences

Pacira BioSciences, Inc is a specialty pharmaceutical company focused on developing and commercializing non-opioid, non-addictive pain management and regenerative health solutions. The company’s flagship product, EXPAREL, is a bupivacaine liposome injectable suspension designed to provide long-lasting postsurgical analgesia. EXPAREL is used by clinicians across a broad range of surgical procedures to reduce reliance on opioid medications and to help manage acute postoperative pain.

In addition to its marketed offering, Pacira maintains an active pipeline of investigational products aimed at addressing unmet needs in pain management and inflammation control.