Pacira BioSciences (NASDAQ:PCRX) Research Coverage Started at Truist Financial

Truist Financial started coverage on shares of Pacira BioSciences (NASDAQ:PCRX) in a report released on Monday, Marketbeat.com reports. The brokerage issued a buy rating and a $30.00 price target on the stock.

A number of other equities research analysts also recently issued reports on PCRX. Wall Street Zen downgraded Pacira BioSciences from a “strong-buy” rating to a “buy” rating in a research report on Sunday. HC Wainwright restated a “buy” rating and set a $38.00 target price on shares of Pacira BioSciences in a research report on Wednesday, July 1st. Needham & Company LLC upped their target price on Pacira BioSciences from $32.00 to $33.00 and gave the stock a “buy” rating in a research note on Wednesday, August 5th. Royal Bank Of Canada raised their price target on Pacira BioSciences from $24.00 to $25.00 and gave the company a “sector perform” rating in a report on Wednesday, August 5th. Finally, Weiss Ratings upgraded Pacira BioSciences from a “sell (d)” rating to a “sell (d+)” rating in a research report on Wednesday, May 20th. Three investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $30.20.

Pacira BioSciences Stock Performance

NASDAQ PCRX opened at $24.36 on Monday. Pacira BioSciences has a 1 year low of $18.80 and a 1 year high of $27.66. The company has a debt-to-equity ratio of 0.54, a current ratio of 5.04 and a quick ratio of 3.94. The stock has a market capitalization of $970.99 million, a PE ratio of 69.60 and a beta of 0.27. The company’s 50 day simple moving average is $24.84 and its two-hundred day simple moving average is $23.63.

Pacira BioSciences (NASDAQ:PCRX) last announced its quarterly earnings results on Tuesday, August 4th. The company reported $0.73 EPS for the quarter, beating the consensus estimate of $0.65 by $0.08. The firm had revenue of $192.40 million during the quarter, compared to the consensus estimate of $191.06 million. Pacira BioSciences had a net margin of 1.96% and a return on equity of 9.68%. The business’s quarterly revenue was up 6.2% compared to the same quarter last year. During the same period last year, the firm earned $0.74 EPS. Analysts predict that Pacira BioSciences will post 1.98 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Jonathan Slonin sold 3,040 shares of Pacira BioSciences stock in a transaction on Monday, August 17th. The shares were sold at an average price of $23.23, for a total transaction of $70,619.20. Following the completion of the sale, the insider directly owned 216,384 shares of the company’s stock, valued at approximately $5,026,600.32. The trade was a 1.39% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Lauren Riker sold 6,115 shares of the company’s stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $23.50, for a total transaction of $143,702.50. Following the completion of the transaction, the senior vice president owned 62,284 shares of the company’s stock, valued at $1,463,674. This trade represents a 8.94% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 6.40% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Pacira BioSciences

A number of large investors have recently added to or reduced their stakes in PCRX. Northwestern Mutual Wealth Management Co. lifted its stake in Pacira BioSciences by 5,900.0% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,500 shares of the company’s stock worth $39,000 after purchasing an additional 1,475 shares during the last quarter. Meeder Asset Management Inc. bought a new position in shares of Pacira BioSciences during the 1st quarter valued at about $46,000. Kestra Advisory Services LLC bought a new stake in Pacira BioSciences in the 4th quarter worth approximately $48,000. Eurizon Capital SGR S.p.A. bought a new stake in Pacira BioSciences in the 4th quarter worth approximately $51,000. Finally, Global Retirement Partners LLC purchased a new stake in Pacira BioSciences in the second quarter worth approximately $51,000. Hedge funds and other institutional investors own 99.73% of the company’s stock.

Pacira BioSciences Company Profile

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.