Pacira BioSciences (NASDAQ:PCRX) PT Lowered to $45.00

Pacira BioSciences (NASDAQ:PCRX) had its price objective decreased by research analysts at Needham & Company LLC from $52.00 to $45.00 in a research note issued on Friday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Needham & Company LLC’s price objective would indicate a potential upside of 44.97% from the stock’s previous close.

Other equities analysts have also issued research reports about the company. Piper Sandler cut their price target on Pacira BioSciences from $60.00 to $50.00 and set an “overweight” rating on the stock in a research note on Thursday, August 3rd. Royal Bank of Canada reaffirmed an “outperform” rating and set a $68.00 price target on shares of Pacira BioSciences in a research note on Tuesday, October 3rd. Barclays cut their price target on Pacira BioSciences from $60.00 to $57.00 and set an “overweight” rating on the stock in a research note on Monday, October 23rd. TD Cowen raised Pacira BioSciences from a “market perform” rating to an “outperform” rating and set a $50.00 price target on the stock in a research note on Thursday, August 3rd. Finally, Truist Financial dropped their price objective on Pacira BioSciences from $60.00 to $55.00 and set a “buy” rating for the company in a report on Thursday, August 3rd. One analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $52.91.

Pacira BioSciences Price Performance

Pacira BioSciences stock opened at $31.04 on Friday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 3.10 and a current ratio of 4.78. The firm has a market cap of $1.44 billion, a P/E ratio of 344.89 and a beta of 0.76. The business’s fifty day moving average is $31.47 and its two-hundred day moving average is $36.74. Pacira BioSciences has a 52 week low of $26.59 and a 52 week high of $53.32.

Pacira BioSciences (NASDAQ:PCRX) last issued its quarterly earnings results on Wednesday, August 2nd. The company reported $0.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.59 by $0.02. Pacira BioSciences had a return on equity of 10.21% and a net margin of 1.05%. The business had revenue of $169.47 million for the quarter, compared to analyst estimates of $175.64 million. Equities research analysts forecast that Pacira BioSciences will post 2.41 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Pacira BioSciences

Several large investors have recently modified their holdings of the business. Vanguard Group Inc. increased its holdings in shares of Pacira BioSciences by 1.1% in the third quarter. Vanguard Group Inc. now owns 4,868,445 shares of the company’s stock worth $258,953,000 after acquiring an additional 55,188 shares in the last quarter. Baillie Gifford & Co. raised its position in Pacira BioSciences by 1.3% in the 1st quarter. Baillie Gifford & Co. now owns 1,890,841 shares of the company’s stock valued at $77,165,000 after buying an additional 24,100 shares during the last quarter. Renaissance Technologies LLC raised its position in Pacira BioSciences by 0.6% in the 1st quarter. Renaissance Technologies LLC now owns 1,860,997 shares of the company’s stock valued at $142,031,000 after buying an additional 11,800 shares during the last quarter. Frontier Capital Management Co. LLC raised its position in Pacira BioSciences by 5.1% in the 2nd quarter. Frontier Capital Management Co. LLC now owns 1,685,255 shares of the company’s stock valued at $67,528,000 after buying an additional 81,171 shares during the last quarter. Finally, Stephens Investment Management Group LLC raised its position in Pacira BioSciences by 14.1% in the 2nd quarter. Stephens Investment Management Group LLC now owns 1,337,032 shares of the company’s stock valued at $53,575,000 after buying an additional 164,974 shares during the last quarter. 99.73% of the stock is currently owned by institutional investors.

Pacira BioSciences Company Profile

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.