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

HC Wainwright reissued their buy rating on shares of Pacira BioSciences (NASDAQ:PCRX) in a research report released on Friday,Benzinga reports. They currently have a $38.00 price target on the stock.

A number of other equities analysts also recently issued reports on PCRX. Weiss Ratings reiterated a “sell (d+)” rating on shares of Pacira BioSciences in a report on Monday, December 29th. Wall Street Zen upgraded shares of Pacira BioSciences from a “buy” rating to a “strong-buy” rating in a research report on Saturday, November 8th. Barclays initiated coverage on shares of Pacira BioSciences in a report on Tuesday, December 9th. They issued an “equal weight” rating and a $27.00 target price for the company. Finally, Truist Financial decreased their price target on Pacira BioSciences from $30.00 to $28.00 and set a “buy” rating on the stock in a research note on Friday, November 7th. 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. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $28.20.

Pacira BioSciences Stock Performance

Shares of PCRX stock opened at $23.53 on Friday. The company has a current ratio of 5.26, a quick ratio of 3.78 and a debt-to-equity ratio of 0.52. The stock has a 50 day simple moving average of $24.53 and a 200-day simple moving average of $24.23. The company has a market cap of $1.01 billion, a price-to-earnings ratio of 52.29 and a beta of 0.22. Pacira BioSciences has a 12-month low of $19.81 and a 12-month high of $27.64.

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

Insiders Place Their Bets

In other Pacira BioSciences news, insider Jonathan Slonin sold 3,960 shares of Pacira BioSciences stock in a transaction dated Monday, November 17th. The shares were sold at an average price of $24.09, for a total transaction of $95,396.40. Following the completion of the transaction, the insider owned 178,367 shares in the company, valued at approximately $4,296,861.03. The trade was a 2.17% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Lauren Riker sold 1,416 shares of the stock in a transaction that occurred on Monday, January 5th. The shares were sold at an average price of $24.24, for a total transaction of $34,323.84. Following the completion of the sale, the senior vice president owned 59,064 shares in the company, valued at $1,431,711.36. This represents a 2.34% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 34,336 shares of company stock worth $851,868. Insiders own 6.40% of the company’s stock.

Hedge Funds Weigh In On Pacira BioSciences

Several hedge funds have recently bought and sold shares of PCRX. SG Americas Securities LLC raised its holdings in shares of Pacira BioSciences by 20.9% in the fourth quarter. SG Americas Securities LLC now owns 18,988 shares of the company’s stock worth $491,000 after acquiring an additional 3,286 shares during the last quarter. Assenagon Asset Management S.A. increased its position in Pacira BioSciences by 87.3% during the 4th quarter. Assenagon Asset Management S.A. now owns 435,143 shares of the company’s stock worth $11,262,000 after purchasing an additional 202,773 shares in the last quarter. Roxbury Financial LLC acquired a new position in Pacira BioSciences in the 4th quarter valued at about $161,000. Tudor Investment Corp ET AL purchased a new position in Pacira BioSciences in the 3rd quarter valued at about $480,000. Finally, CANADA LIFE ASSURANCE Co lifted its holdings in Pacira BioSciences by 10.6% in the 3rd quarter. CANADA LIFE ASSURANCE Co now owns 40,903 shares of the company’s stock valued at $1,035,000 after purchasing an additional 3,935 shares in the last quarter. Hedge funds and other institutional investors own 99.73% of the company’s stock.

Pacira BioSciences Company Profile

Pacira BioSciences, Inc is a specialty pharmaceutical company focused on developing and commercializing non-opioid, non-addictive pain management and regenerative health solutions. The company’s flagship product, EXPAREL, is a bupivacaine liposome injectable suspension designed to provide long-lasting postsurgical analgesia. EXPAREL is used by clinicians across a broad range of surgical procedures to reduce reliance on opioid medications and to help manage acute postoperative pain.

In addition to its marketed offering, Pacira maintains an active pipeline of investigational products aimed at addressing unmet needs in pain management and inflammation control.