Pacira BioSciences (NASDAQ:PCRX) Upgraded at Barclays

Barclays upgraded shares of Pacira BioSciences (NASDAQ:PCRX) to a hold rating in a research report released on Monday,Zacks.com reports.

A number of other analysts also recently issued reports on the company. Wall Street Zen upgraded Pacira BioSciences from a “buy” rating to a “strong-buy” rating in a research report on Saturday, November 8th. Truist Financial decreased their price objective on shares of Pacira BioSciences from $30.00 to $28.00 and set a “buy” rating on the stock in a research report on Friday, November 7th. HC Wainwright reiterated a “buy” rating and set a $38.00 target price on shares of Pacira BioSciences in a research report on Monday, November 17th. Zacks Research raised shares of Pacira BioSciences from a “strong sell” rating to a “hold” rating in a research note on Thursday, August 14th. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of Pacira BioSciences in a report on Monday. Three equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $28.20.

Pacira BioSciences Stock Performance

NASDAQ PCRX opened at $25.18 on Monday. The company’s 50 day simple moving average is $23.09 and its two-hundred day simple moving average is $24.14. The company has a debt-to-equity ratio of 0.52, a current ratio of 5.26 and a quick ratio of 3.78. Pacira BioSciences has a 1 year low of $18.17 and a 1 year high of $27.64. The stock has a market capitalization of $1.08 billion, a PE ratio of 55.96 and a beta of 0.23.

Pacira BioSciences (NASDAQ:PCRX) last released its quarterly earnings results on Thursday, November 6th. The company reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.05. The firm had revenue of $179.52 million for the quarter, compared to analysts’ expectations of $182.86 million. Pacira BioSciences had a net margin of 2.99% and a return on equity of 12.82%. The business’s quarterly revenue was up 6.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.79 earnings per share. Analysts predict that Pacira BioSciences will post 2.41 earnings per share for the current fiscal year.

Insider Buying and Selling at Pacira BioSciences

In related news, insider Jonathan Slonin sold 3,960 shares of the stock in a transaction on Monday, November 17th. The shares were sold at an average price of $24.09, for a total transaction of $95,396.40. Following the transaction, the insider owned 178,367 shares of the company’s stock, valued at approximately $4,296,861.03. This trade represents a 2.17% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 6.40% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Doma Perpetual Capital Management LLC increased its stake in shares of Pacira BioSciences by 49.7% during the third quarter. Doma Perpetual Capital Management LLC now owns 2,701,324 shares of the company’s stock valued at $69,613,000 after buying an additional 897,255 shares during the period. Dimensional Fund Advisors LP boosted its holdings in Pacira BioSciences by 0.5% in the third quarter. Dimensional Fund Advisors LP now owns 2,163,473 shares of the company’s stock valued at $55,751,000 after acquiring an additional 11,831 shares in the last quarter. Balyasny Asset Management L.P. increased its position in Pacira BioSciences by 36.1% during the 2nd quarter. Balyasny Asset Management L.P. now owns 2,130,733 shares of the company’s stock valued at $50,925,000 after purchasing an additional 565,288 shares during the period. American Century Companies Inc. raised its holdings in Pacira BioSciences by 16.6% in the 3rd quarter. American Century Companies Inc. now owns 1,378,513 shares of the company’s stock worth $35,524,000 after purchasing an additional 196,000 shares in the last quarter. Finally, Alyeska Investment Group L.P. bought a new position in Pacira BioSciences in the 1st quarter worth $32,506,000. Institutional investors own 99.73% of the company’s stock.

About Pacira BioSciences

Pacira Biosciences, Inc is a holding company, which engages in the provision of non-opioid pain management and regenerative health solutions to improve patients’ journeys along the neural pain pathway. Its products include EXPAREL, iovera, and DepoFoam. The company was founded in December 2006 and is headquartered in Tampa, FL.