Pacira BioSciences’ (PCRX) Buy Rating Reaffirmed at HC Wainwright

Pacira BioSciences (NASDAQ:PCRX)‘s stock had its “buy” rating reiterated by equities researchers at HC Wainwright in a research note issued to investors on Wednesday, Benzinga reports. They presently have a $57.00 target price on the stock. HC Wainwright’s target price suggests a potential upside of 90.89% from the company’s current price.

Other analysts have also issued research reports about the company. Barclays cut their price objective on Pacira BioSciences from $40.00 to $38.00 and set an “overweight” rating on the stock in a research report on Wednesday. TheStreet raised Pacira BioSciences from a “d+” rating to a “c” rating in a research report on Thursday, February 29th. Wedbush reaffirmed an “outperform” rating and issued a $57.00 target price on shares of Pacira BioSciences in a report on Thursday, February 8th. Royal Bank of Canada lowered their price target on shares of Pacira BioSciences from $53.00 to $45.00 and set an “outperform” rating for the company in a report on Friday, March 1st. Finally, Needham & Company LLC reduced their price objective on shares of Pacira BioSciences from $45.00 to $43.00 and set a “buy” rating on the stock in a report on Wednesday. Eleven equities research analysts have rated the stock with a buy rating, According to MarketBeat, Pacira BioSciences has an average rating of “Buy” and a consensus price target of $47.40.

Pacira BioSciences Stock Performance

NASDAQ PCRX opened at $29.86 on Wednesday. The company has a debt-to-equity ratio of 0.59, a current ratio of 5.24 and a quick ratio of 4.17. The company has a market cap of $1.39 billion, a P/E ratio of 36.86 and a beta of 0.77. The stock has a 50-day moving average of $28.28 and a two-hundred day moving average of $29.51. Pacira BioSciences has a 1-year low of $25.33 and a 1-year high of $43.50.

Pacira BioSciences (NASDAQ:PCRX) last posted its quarterly earnings data on Thursday, February 29th. The company reported $0.71 EPS for the quarter, meeting the consensus estimate of $0.71. Pacira BioSciences had a net margin of 6.22% and a return on equity of 12.81%. The business had revenue of $181.24 million during the quarter, compared to analyst estimates of $180.60 million. As a group, analysts anticipate that Pacira BioSciences will post 2.17 EPS for the current year.

Insider Activity

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

Hedge Funds Weigh In On Pacira BioSciences

Several institutional investors have recently bought and sold shares of the company. abrdn plc lifted its stake in shares of Pacira BioSciences by 14.3% in the 4th quarter. abrdn plc now owns 448,691 shares of the company’s stock worth $15,139,000 after acquiring an additional 56,081 shares during the period. Gradient Investments LLC raised its holdings in Pacira BioSciences by 33.0% during the fourth quarter. Gradient Investments LLC now owns 139,949 shares of the company’s stock worth $4,722,000 after purchasing an additional 34,723 shares in the last quarter. Gotham Asset Management LLC raised its holdings in Pacira BioSciences by 16.8% during the third quarter. Gotham Asset Management LLC now owns 22,317 shares of the company’s stock worth $685,000 after purchasing an additional 3,203 shares in the last quarter. Assenagon Asset Management S.A. lifted its position in Pacira BioSciences by 185.2% in the fourth quarter. Assenagon Asset Management S.A. now owns 246,621 shares of the company’s stock valued at $8,321,000 after purchasing an additional 160,149 shares during the period. Finally, Boston Partners boosted its holdings in Pacira BioSciences by 105.4% in the 3rd quarter. Boston Partners now owns 108,509 shares of the company’s stock valued at $3,329,000 after purchasing an additional 55,679 shares in the last quarter. 99.73% of the stock is owned by institutional investors and hedge funds.

About Pacira BioSciences

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.