Pacira BioSciences (NASDAQ:PCRX) Upgraded at Zacks Research

Zacks Research upgraded shares of Pacira BioSciences (NASDAQ:PCRX) from a strong sell rating to a hold rating in a research report sent to investors on Tuesday morning,Zacks.com reports.

Several other analysts also recently commented on PCRX. HC Wainwright reissued a “buy” rating and set a $38.00 price objective on shares of Pacira BioSciences in a research report on Friday, January 9th. Needham & Company LLC reissued a “buy” rating and set a $30.00 price objective on shares of Pacira BioSciences in a research report on Friday, January 9th. Weiss Ratings reissued a “sell (d+)” rating on shares of Pacira BioSciences in a research report on Monday, December 29th. Wall Street Zen downgraded shares of Pacira BioSciences from a “strong-buy” rating to a “buy” rating in a research report on Saturday, February 28th. Finally, Barclays cut their price objective on shares of Pacira BioSciences from $27.00 to $25.00 and set an “equal weight” rating on the stock in a research report on Thursday, March 26th. Three equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $30.25.

Pacira BioSciences Stock Up 2.5%

NASDAQ:PCRX opened at $23.82 on Tuesday. The firm’s 50-day moving average price is $22.37 and its 200-day moving average price is $23.16. The company has a market capitalization of $964.47 million, a PE ratio of 158.80 and a beta of 0.19. The company has a debt-to-equity ratio of 0.54, a current ratio of 4.54 and a quick ratio of 3.28. Pacira BioSciences has a 1-year low of $18.80 and a 1-year high of $27.64.

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

Insider Transactions at Pacira BioSciences

In other news, insider Jonathan Slonin sold 3,261 shares of the stock in a transaction on Tuesday, March 17th. The stock was sold at an average price of $22.82, for a total transaction of $74,416.02. Following the transaction, the insider directly owned 223,640 shares of the company’s stock, valued at $5,103,464.80. This represents a 1.44% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 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 in the company, valued at $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. Company insiders own 6.40% of the company’s stock.

Hedge Funds Weigh In On Pacira BioSciences

Several hedge funds and other institutional investors have recently modified their holdings of PCRX. Doma Perpetual Capital Management LLC lifted its holdings in shares of Pacira BioSciences by 49.7% during the 3rd 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. Balyasny Asset Management L.P. lifted its holdings in shares of 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 buying an additional 565,288 shares during the period. EcoR1 Capital LLC purchased a new position in shares of Pacira BioSciences in the second quarter worth approximately $10,934,000. Goldman Sachs Group Inc. boosted its holdings in shares of Pacira BioSciences by 49.9% in the first quarter. Goldman Sachs Group Inc. now owns 1,104,796 shares of the company’s stock worth $27,454,000 after buying an additional 367,869 shares during the last quarter. Finally, Hillsdale Investment Management Inc. purchased a new position in shares of Pacira BioSciences in the fourth quarter worth approximately $7,976,000. 99.73% of the stock is 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.