Brokerages Set Pacira BioSciences, Inc. (NASDAQ:PCRX) Price Target at $28.20

Shares of Pacira BioSciences, Inc. (NASDAQ:PCRX) have earned an average recommendation of “Hold” from the seven analysts that are currently covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $28.20.

Several research firms have recently issued reports on PCRX. Weiss Ratings restated a “sell (d+)” rating on shares of Pacira BioSciences in a report on Monday, December 29th. Wall Street Zen upgraded shares of Pacira BioSciences from a “buy” rating to a “strong-buy” rating in a research note on Saturday, November 8th. Barclays initiated coverage on shares of Pacira BioSciences in a report on Tuesday, December 9th. They issued an “equal weight” rating and a $27.00 price target for the company. HC Wainwright reiterated a “buy” rating and set a $38.00 price objective on shares of Pacira BioSciences in a research note on Monday, November 17th. Finally, Truist Financial cut their target price on Pacira BioSciences from $30.00 to $28.00 and set a “buy” rating on the stock in a research report on Friday, November 7th.

Insider Buying and Selling at Pacira BioSciences

In related news, insider Jonathan Slonin sold 3,960 shares of the company’s stock in a transaction that occurred 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 sale, the insider owned 178,367 shares in the company, valued at $4,296,861.03. This represents a 2.17% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Shawn Cross sold 9,104 shares of the stock in a transaction that occurred on Wednesday, December 10th. The stock was sold at an average price of $25.14, for a total transaction of $228,874.56. Following the completion of the transaction, the chief financial officer owned 56,250 shares in the company, valued at approximately $1,414,125. This trade represents a 13.93% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 34,336 shares of company stock worth $851,868. 6.40% of the stock is currently owned by insiders.

Institutional Trading of Pacira BioSciences

Several large investors have recently made changes to their positions in the business. Roxbury Financial LLC acquired a new stake in shares of Pacira BioSciences in the fourth quarter worth $161,000. Tudor Investment Corp ET AL purchased a new stake in Pacira BioSciences in the third quarter valued at $480,000. CANADA LIFE ASSURANCE Co grew its position in Pacira BioSciences by 10.6% during the 3rd quarter. CANADA LIFE ASSURANCE Co now owns 40,903 shares of the company’s stock worth $1,035,000 after purchasing an additional 3,935 shares during the period. Qube Research & Technologies Ltd purchased a new position in shares of Pacira BioSciences during the 3rd quarter valued at about $420,000. Finally, Prelude Capital Management LLC raised its stake in shares of Pacira BioSciences by 50.8% during the 3rd quarter. Prelude Capital Management LLC now owns 36,535 shares of the company’s stock valued at $942,000 after buying an additional 12,300 shares during the last quarter. 99.73% of the stock is owned by hedge funds and other institutional investors.

Pacira BioSciences Stock Performance

Shares of PCRX opened at $25.31 on Friday. 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 firm has a market cap of $1.09 billion, a PE ratio of 56.25 and a beta of 0.22. Pacira BioSciences has a 12 month low of $18.18 and a 12 month high of $27.64. The stock has a fifty day moving average price of $24.30 and a 200-day moving average price of $24.22.

Pacira BioSciences (NASDAQ:PCRX) last announced its earnings results on Thursday, November 6th. The company reported $0.70 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to analyst estimates of $182.86 million. During the same period in the prior year, the company posted $0.79 EPS. The firm’s quarterly revenue was up 6.5% compared to the same quarter last year. Equities research analysts predict that Pacira BioSciences will post 2.41 earnings per share for the current fiscal year.

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.