Pacira BioSciences, Inc. (NASDAQ:PCRX) Receives $30.75 Average Price Target from Analysts

Shares of Pacira BioSciences, Inc. (NASDAQ:PCRX) have been assigned an average rating of “Hold” from the six research firms that are currently covering the stock, Marketbeat Ratings reports. Two analysts have rated the stock with a sell recommendation, one has issued a hold recommendation and three have given a buy recommendation to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $30.75.

Several analysts have weighed in on the company. HC Wainwright reaffirmed a “buy” rating and set a $38.00 target price on shares of Pacira BioSciences in a research note on Friday, January 9th. Zacks Research cut Pacira BioSciences from a “hold” rating to a “strong sell” rating in a research note on Monday, March 9th. Barclays began coverage on shares of Pacira BioSciences in a research note on Tuesday, December 9th. They set an “equal weight” rating and a $27.00 price objective on the stock. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Pacira BioSciences in a report on Monday, December 29th. Finally, Wall Street Zen lowered shares of Pacira BioSciences from a “strong-buy” rating to a “buy” rating in a research report on Saturday, February 28th.

Pacira BioSciences Stock Down 2.0%

PCRX stock opened at $22.11 on Friday. The stock has a market cap of $895.23 million, a PE ratio of 147.40 and a beta of 0.21. The firm’s 50-day simple moving average is $21.70 and its 200 day simple moving average is $23.47. Pacira BioSciences has a fifty-two week low of $18.80 and a fifty-two week high of $27.64. The company has a quick ratio of 3.28, a current ratio of 4.54 and a debt-to-equity ratio of 0.54.

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

Insider Activity at Pacira BioSciences

In related news, insider Jonathan Slonin sold 3,261 shares of the firm’s stock in a transaction that occurred on Tuesday, March 17th. The shares were sold at an average price of $22.82, for a total transaction of $74,416.02. Following the transaction, the insider owned 223,640 shares in the company, valued at $5,103,464.80. This trade represents a 1.44% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Lauren Riker sold 4,000 shares of the stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $20.81, for a total value of $83,240.00. Following the transaction, 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 ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 8,677 shares of company stock valued at $191,980 over the last quarter. Insiders own 6.40% of the company’s stock.

Institutional Investors Weigh In On Pacira BioSciences

Several hedge funds and other institutional investors have recently bought and sold shares of PCRX. Hsbc Holdings PLC boosted its position in shares of Pacira BioSciences by 7.7% during the 4th quarter. Hsbc Holdings PLC now owns 18,416 shares of the company’s stock valued at $479,000 after purchasing an additional 1,316 shares in the last quarter. Vident Advisory LLC raised its holdings in shares of Pacira BioSciences by 15.0% in the 4th quarter. Vident Advisory LLC now owns 23,571 shares of the company’s stock worth $610,000 after purchasing an additional 3,075 shares in the last quarter. Empowered Funds LLC lifted its stake in Pacira BioSciences by 1.9% during the fourth quarter. Empowered Funds LLC now owns 227,605 shares of the company’s stock valued at $5,890,000 after purchasing an additional 4,167 shares during the last quarter. XTX Topco Ltd acquired a new stake in Pacira BioSciences during the fourth quarter valued at approximately $2,146,000. Finally, Millennium Management LLC boosted its holdings in Pacira BioSciences by 73.3% during the fourth quarter. Millennium Management LLC now owns 122,606 shares of the company’s stock worth $3,173,000 after buying an additional 51,848 shares in the last quarter. 99.73% of the stock is currently owned by institutional investors.

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.