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

Shares of Pacira BioSciences, Inc. (NASDAQ:PCRX) have been given a consensus recommendation of “Hold” by the seven research firms that are covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $29.40.

PCRX has been the topic of a number of research analyst reports. Royal Bank Of Canada boosted their target price on Pacira BioSciences from $22.00 to $24.00 and gave the stock a “sector perform” rating in a research note on Friday, May 1st. Needham & Company LLC lifted their price target on Pacira BioSciences from $30.00 to $32.00 and gave the stock a “buy” rating in a report on Friday, May 1st. Zacks Research raised Pacira BioSciences from a “strong sell” rating to a “hold” rating in a research report on Tuesday, April 7th. Weiss Ratings upgraded Pacira BioSciences from a “sell (d)” rating to a “sell (d+)” rating in a research note on Wednesday, May 20th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $38.00 target price on shares of Pacira BioSciences in a research report on Wednesday, July 1st.

Pacira BioSciences Stock Performance

Shares of PCRX stock opened at $26.40 on Thursday. The company has a debt-to-equity ratio of 0.56, a current ratio of 4.73 and a quick ratio of 3.35. The firm has a 50-day moving average of $24.33 and a 200-day moving average of $23.19. Pacira BioSciences has a one year low of $18.80 and a one year high of $27.64. The company has a market cap of $1.04 billion, a P/E ratio of 220.02 and a beta of 0.27.

Pacira BioSciences (NASDAQ:PCRX) last issued its quarterly earnings data on Thursday, April 30th. The company reported $0.60 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.01). Pacira BioSciences had a return on equity of 10.24% and a net margin of 0.70%.The firm had revenue of $177.38 million during the quarter, compared to the consensus estimate of $171.80 million. During the same period in the previous year, the company posted $0.65 earnings per share. The company’s revenue for the quarter was up 5.0% on a year-over-year basis. Equities research analysts forecast that Pacira BioSciences will post 1.94 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, SVP Lauren Riker sold 6,115 shares of the firm’s stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $23.50, for a total transaction of $143,702.50. Following the completion of the sale, the senior vice president owned 62,284 shares in the company, valued at approximately $1,463,674. This trade represents a 8.94% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 6.40% of the company’s stock.

Institutional Inflows and Outflows

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

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.