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

Pacira BioSciences, Inc. (NASDAQ:PCRX) has been given a consensus rating of “Hold” by the seven analysts that are currently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and three have given a buy recommendation to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $30.20.

PCRX has been the subject of a number of recent analyst reports. Royal Bank Of Canada increased their price target on shares of Pacira BioSciences from $24.00 to $25.00 and gave the company a “sector perform” rating in a research note on Wednesday, August 5th. Wall Street Zen cut shares of Pacira BioSciences from a “strong-buy” rating to a “buy” rating in a report on Sunday, August 16th. HC Wainwright reiterated a “buy” rating and issued a $38.00 target price on shares of Pacira BioSciences in a research note on Wednesday, July 1st. Weiss Ratings reiterated a “sell (d+)” rating on shares of Pacira BioSciences in a research note on Monday, August 17th. Finally, Truist Financial initiated coverage on Pacira BioSciences in a report on Monday, August 17th. They set a “buy” rating and a $30.00 price target for the company.

Insider Buying and Selling

In other news, insider Jonathan Slonin sold 3,040 shares of the firm’s stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $23.23, for a total value of $70,619.20. Following the completion of the sale, the insider directly owned 216,384 shares of the company’s stock, valued at $5,026,600.32. This trade represents a 1.39% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at 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 business’s stock in a transaction that occurred on Thursday, June 11th. The stock was 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. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 6.40% of the company’s stock.

Hedge Funds Weigh In On Pacira BioSciences

Several institutional investors and hedge funds have recently modified their holdings of the stock. PNC Financial Services Group Inc. lifted its stake in Pacira BioSciences by 15.1% in the first quarter. PNC Financial Services Group Inc. now owns 3,751 shares of the company’s stock valued at $85,000 after buying an additional 492 shares during the period. Inspire Investing LLC grew its position in shares of Pacira BioSciences by 3.2% during the 4th quarter. Inspire Investing LLC now owns 17,958 shares of the company’s stock worth $465,000 after buying an additional 556 shares during the period. State of Wyoming grew its position in shares of Pacira BioSciences by 7.0% during the 4th quarter. State of Wyoming now owns 11,155 shares of the company’s stock worth $289,000 after buying an additional 728 shares during the period. Franklin Resources Inc. grew its position in shares of Pacira BioSciences by 2.6% during the 4th quarter. Franklin Resources Inc. now owns 33,860 shares of the company’s stock worth $876,000 after buying an additional 846 shares during the period. Finally, Allspring Global Investments Holdings LLC increased its stake in shares of Pacira BioSciences by 10.8% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 11,746 shares of the company’s stock valued at $268,000 after acquiring an additional 1,142 shares in the last quarter. 99.73% of the stock is currently owned by institutional investors and hedge funds.

Pacira BioSciences Stock Performance

NASDAQ PCRX opened at $24.67 on Monday. The company has a market cap of $983.40 million, a PE ratio of 70.49 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 $24.89 and a 200-day moving average of $23.68.

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 1.98 EPS for the current fiscal year.

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.