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

Shares of Pacira BioSciences, Inc. (NASDAQ:PCRX) have earned a consensus recommendation of “Buy” from the ten analysts that are covering the stock, MarketBeat Ratings reports. Ten investment analysts have rated the stock with a buy rating. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $49.50.

PCRX has been the topic of several recent analyst reports. TheStreet raised Pacira BioSciences from a “d+” rating to a “c” rating in a research report on Thursday, February 29th. Needham & Company LLC reaffirmed a “buy” rating and issued a $45.00 price target on shares of Pacira BioSciences in a research report on Tuesday, April 9th. JPMorgan Chase & Co. initiated coverage on Pacira BioSciences in a research report on Thursday, March 7th. They set an “overweight” rating and a $45.00 price objective on the stock. Wedbush restated an “outperform” rating and set a $57.00 price objective on shares of Pacira BioSciences in a research report on Thursday, February 8th. Finally, HC Wainwright restated a “buy” rating and set a $57.00 price objective on shares of Pacira BioSciences in a research report on Monday, March 4th.

Insider Activity at Pacira BioSciences

In related news, Director Gary W. Pace sold 90,000 shares of the business’s stock in a transaction on Friday, March 8th. The stock was sold at an average price of $30.60, for a total value of $2,754,000.00. Following the sale, the director now owns 22,127 shares of the company’s stock, valued at approximately $677,086.20. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, Director Gary W. Pace sold 90,000 shares of the business’s stock in a transaction on Friday, March 8th. The stock was sold at an average price of $30.60, for a total value of $2,754,000.00. Following the sale, the director now owns 22,127 shares of the company’s stock, valued at approximately $677,086.20. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Gary W. Pace sold 1,066 shares of the business’s stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $29.67, for a total value of $31,628.22. Following the completion of the sale, the director now directly owns 140,384 shares in the company, valued at approximately $4,165,193.28. The disclosure for this sale can be found here. 6.60% of the stock is owned by insiders.

Hedge Funds Weigh In On Pacira BioSciences

A number of institutional investors and hedge funds have recently bought and sold shares of PCRX. Vestal Point Capital LP acquired a new position in Pacira BioSciences in the fourth quarter worth $40,488,000. Pacer Advisors Inc. boosted its stake in Pacira BioSciences by 397,487.4% in the fourth quarter. Pacer Advisors Inc. now owns 1,041,679 shares of the company’s stock worth $35,146,000 after purchasing an additional 1,041,417 shares in the last quarter. Millennium Management LLC boosted its stake in Pacira BioSciences by 146.1% in the fourth quarter. Millennium Management LLC now owns 1,151,754 shares of the company’s stock worth $44,469,000 after purchasing an additional 683,680 shares in the last quarter. Wellington Management Group LLP boosted its stake in Pacira BioSciences by 852.7% in the first quarter. Wellington Management Group LLP now owns 676,365 shares of the company’s stock worth $51,620,000 after purchasing an additional 605,370 shares in the last quarter. Finally, Rubric Capital Management LP acquired a new position in Pacira BioSciences in the third quarter worth $14,102,000. Institutional investors and hedge funds own 99.73% of the company’s stock.

Pacira BioSciences Stock Performance

Shares of NASDAQ PCRX opened at $26.10 on Friday. The company has a quick ratio of 4.17, a current ratio of 5.24 and a debt-to-equity ratio of 0.59. The business’s 50 day moving average is $29.09 and its two-hundred day moving average is $29.79. The company has a market cap of $1.21 billion, a P/E ratio of 32.22 and a beta of 0.76. Pacira BioSciences has a 12 month low of $25.76 and a 12 month high of $48.60.

Pacira BioSciences (NASDAQ:PCRX) last issued its quarterly earnings results on Thursday, February 29th. The company reported $0.71 EPS for the quarter, hitting the consensus estimate of $0.71. The company had revenue of $181.24 million for the quarter, compared to the consensus estimate of $180.60 million. Pacira BioSciences had a return on equity of 12.81% and a net margin of 6.22%. On average, equities analysts expect that Pacira BioSciences will post 2.18 EPS for the current year.

Pacira BioSciences Company Profile

Pacira BioSciences, Inc engages in the development, manufacture, marketing, distribution, and sale of non-opioid pain management and regenerative health solutions to healthcare practitioners 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 to targeted nerves.