Pacira BioSciences, Inc. (NASDAQ:PCRX) Given Average Rating of “Moderate Buy” by Brokerages

Shares of Pacira BioSciences, Inc. (NASDAQ:PCRX) have earned an average rating of “Moderate Buy” from the nine analysts that are covering the stock, Marketbeat.com reports. One analyst has rated the stock with a hold rating and eight have issued a buy rating on the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $58.00.

Several brokerages recently issued reports on PCRX. StockNews.com began coverage on Pacira BioSciences in a research note on Thursday, August 17th. They issued a “buy” rating on the stock. Truist Financial dropped their target price on Pacira BioSciences from $60.00 to $55.00 and set a “buy” rating on the stock in a research report on Thursday, August 3rd. Needham & Company LLC dropped their target price on Pacira BioSciences from $60.00 to $52.00 and set a “buy” rating on the stock in a research report on Thursday, August 3rd. Piper Sandler dropped their target price on Pacira BioSciences from $60.00 to $50.00 and set an “overweight” rating on the stock in a research report on Thursday, August 3rd. Finally, TD Cowen raised Pacira BioSciences from a “market perform” rating to an “outperform” rating and set a $50.00 target price on the stock in a research report on Thursday, August 3rd.

Insider Buying and Selling

In related news, insider Kristen Marie Williams sold 6,467 shares of Pacira BioSciences stock in a transaction dated Wednesday, June 14th. The stock was sold at an average price of $37.03, for a total value of $239,473.01. Following the sale, the insider now directly owns 25,375 shares in the company, valued at approximately $939,636.25. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, insider Kristen Marie Williams sold 6,467 shares of the business’s stock in a transaction that occurred on Wednesday, June 14th. The stock was sold at an average price of $37.03, for a total transaction of $239,473.01. Following the transaction, the insider now directly owns 25,375 shares in the company, valued at approximately $939,636.25. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP Lauren Bullaro Riker sold 6,366 shares of the business’s stock in a transaction that occurred on Wednesday, June 14th. The stock was sold at an average price of $38.42, for a total value of $244,581.72. Following the transaction, the senior vice president now owns 22,687 shares in the company, valued at $871,634.54. The disclosure for this sale can be found here. In the last three months, insiders have sold 13,985 shares of company stock worth $526,828. Insiders own 6.60% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in PCRX. Rice Hall James & Associates LLC lifted its holdings in Pacira BioSciences by 8.7% in the first quarter. Rice Hall James & Associates LLC now owns 456,798 shares of the company’s stock valued at $34,863,000 after acquiring an additional 36,593 shares during the last quarter. Raymond James & Associates lifted its holdings in Pacira BioSciences by 2.3% in the first quarter. Raymond James & Associates now owns 35,299 shares of the company’s stock valued at $2,694,000 after acquiring an additional 791 shares during the last quarter. Raymond James Financial Services Advisors Inc. acquired a new position in Pacira BioSciences in the first quarter valued at approximately $339,000. Natixis Advisors L.P. lifted its holdings in Pacira BioSciences by 22.6% in the first quarter. Natixis Advisors L.P. now owns 12,898 shares of the company’s stock valued at $984,000 after acquiring an additional 2,381 shares during the last quarter. Finally, MetLife Investment Management LLC lifted its holdings in Pacira BioSciences by 55.3% in the first quarter. MetLife Investment Management LLC now owns 23,671 shares of the company’s stock valued at $1,807,000 after acquiring an additional 8,425 shares during the last quarter. 99.73% of the stock is currently owned by institutional investors and hedge funds.

Pacira BioSciences Stock Up 0.4 %

Shares of NASDAQ:PCRX opened at $34.91 on Thursday. Pacira BioSciences has a 52-week low of $34.08 and a 52-week high of $58.10. The stock has a market cap of $1.62 billion, a P/E ratio of -218.17 and a beta of 0.70. The business’s 50 day moving average is $37.24 and its 200 day moving average is $39.76. The company has a quick ratio of 3.10, a current ratio of 3.94 and a debt-to-equity ratio of 0.66.

Pacira BioSciences (NASDAQ:PCRX) last announced its quarterly earnings data on Wednesday, August 2nd. The company reported $0.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.59 by $0.02. Pacira BioSciences had a positive return on equity of 11.56% and a negative net margin of 0.68%. The company had revenue of $169.47 million for the quarter, compared to analysts’ expectations of $175.64 million. Sell-side analysts predict that Pacira BioSciences will post 2.44 EPS for the current year.

About Pacira BioSciences

Pacira BioSciences, Inc provides non-opioid pain management and regenerative health solutions for healthcare practitioners and their patients in the United States. The company offers EXPAREL, a bupivacaine liposome injectable suspension; ZILRETTA, a triamcinolone acetonide extended-release injectable suspension; and iovera system, a non-opioid handheld cryoanalgesia device used to produce controlled doses of cold temperature only to targeted nerves.