Pacira BioSciences (NASDAQ:PCRX) Cut to Strong Sell at Zacks Research

Zacks Research cut shares of Pacira BioSciences (NASDAQ:PCRX) from a hold rating to a strong sell rating in a research note released on Monday,Zacks.com reports.

Several other equities analysts have also recently commented on PCRX. Wall Street Zen cut shares of Pacira BioSciences from a “strong-buy” rating to a “buy” rating in a research note on Saturday, February 28th. Barclays began coverage on shares of Pacira BioSciences in a report on Tuesday, December 9th. They issued an “equal weight” rating and a $27.00 price target for the company. HC Wainwright restated a “buy” rating and set a $38.00 price target on shares of Pacira BioSciences in a research report on Friday, January 9th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Pacira BioSciences in a report on Monday, December 29th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $30.00 price objective on shares of Pacira BioSciences in a research report on Friday, January 9th. Three analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $30.75.

Pacira BioSciences Stock Performance

Shares of PCRX opened at $22.83 on Monday. Pacira BioSciences has a 52-week low of $18.80 and a 52-week high of $27.64. The stock’s 50-day simple moving average is $22.06 and its 200 day simple moving average is $23.69. The company has a debt-to-equity ratio of 0.54, a quick ratio of 3.28 and a current ratio of 4.54. The stock has a market capitalization of $924.39 million, a price-to-earnings ratio of 152.20 and a beta of 0.21.

Pacira BioSciences (NASDAQ:PCRX) last posted its earnings results on Thursday, February 26th. The company reported $0.57 earnings per share for the quarter, missing analysts’ consensus estimates of $0.85 by ($0.28). Pacira BioSciences had a net margin of 0.97% and a return on equity of 10.39%. The company had revenue of $196.87 million for the quarter, compared to analysts’ expectations of $201.93 million. During the same period in the previous year, the firm earned $0.91 EPS. The firm’s quarterly revenue was up 5.1% compared to the same quarter last year. Research analysts forecast that Pacira BioSciences will post 2.41 EPS for the current fiscal year.

Insider Buying and Selling at Pacira BioSciences

In other news, SVP Lauren Riker sold 4,000 shares of Pacira BioSciences stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $20.81, for a total transaction of $83,240.00. Following the completion of the sale, the senior vice president directly owned 52,313 shares of the company’s stock, valued at approximately $1,088,633.53. The trade was a 7.10% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 6.40% of the company’s stock.

Institutional Investors Weigh In On Pacira BioSciences

A number of large investors have recently added to or reduced their stakes in PCRX. PNC Financial Services Group Inc. lifted its stake in Pacira BioSciences by 17.8% during the second quarter. PNC Financial Services Group Inc. now owns 3,511 shares of the company’s stock worth $84,000 after purchasing an additional 531 shares during the last quarter. Inspire Investing LLC increased its position in shares of Pacira BioSciences by 3.2% during the 4th quarter. Inspire Investing LLC now owns 17,958 shares of the company’s stock valued at $465,000 after purchasing an additional 556 shares during the last quarter. Hantz Financial Services Inc. raised its holdings in shares of Pacira BioSciences by 175.4% during the 3rd quarter. Hantz Financial Services Inc. now owns 1,132 shares of the company’s stock valued at $29,000 after buying an additional 721 shares in the last quarter. State of Wyoming raised its holdings in shares of Pacira BioSciences by 7.0% during the 4th quarter. State of Wyoming now owns 11,155 shares of the company’s stock valued at $289,000 after buying an additional 728 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its position in Pacira BioSciences by 8.0% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 10,604 shares of the company’s stock worth $259,000 after buying an additional 785 shares during the last quarter. Hedge funds and other institutional investors own 99.73% of the company’s stock.

About Pacira BioSciences

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.