Brokerages Set Pacira BioSciences, Inc. (NASDAQ:PCRX) Price Target at $29.40

Shares of Pacira BioSciences, Inc. (NASDAQ:PCRX) have been assigned an average recommendation of “Hold” from the seven brokerages that are covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, three have given a hold recommendation and three have assigned a buy recommendation to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $29.40.

A number of brokerages have issued reports on PCRX. Royal Bank Of Canada increased their price objective on shares of Pacira BioSciences from $22.00 to $24.00 and gave the stock a “sector perform” rating in a research note on Friday, May 1st. Zacks Research upgraded shares of Pacira BioSciences from a “strong sell” rating to a “hold” rating in a research report on Tuesday, April 7th. Weiss Ratings raised shares of Pacira BioSciences from a “sell (d)” rating to a “sell (d+)” rating in a report on Wednesday, May 20th. HC Wainwright reiterated a “buy” rating and set a $38.00 price target on shares of Pacira BioSciences in a research report on Wednesday, July 1st. Finally, Needham & Company LLC lifted their price objective on shares of Pacira BioSciences from $30.00 to $32.00 and gave the company a “buy” rating in a research note on Friday, May 1st.

Insiders Place Their Bets

In other Pacira BioSciences news, SVP Lauren Riker sold 6,115 shares of the company’s stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $23.50, for a total transaction of $143,702.50. Following the completion of the sale, the senior vice president directly owned 62,284 shares in the company, valued at $1,463,674. This represents a 8.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 6.40% of the stock is owned by insiders.

Hedge Funds Weigh In On Pacira BioSciences

A number of institutional investors have recently modified their holdings of the business. PNC Financial Services Group Inc. lifted its position in shares of Pacira BioSciences by 15.1% during the 1st quarter. PNC Financial Services Group Inc. now owns 3,751 shares of the company’s stock worth $85,000 after buying an additional 492 shares during the last quarter. Inspire Investing LLC grew its position in Pacira BioSciences by 3.2% in the fourth quarter. Inspire Investing LLC now owns 17,958 shares of the company’s stock valued at $465,000 after acquiring an additional 556 shares during the last quarter. State of Wyoming raised its stake in Pacira BioSciences by 7.0% during the fourth quarter. State of Wyoming now owns 11,155 shares of the company’s stock worth $289,000 after acquiring an additional 728 shares in the last quarter. Allspring Global Investments Holdings LLC raised its stake in Pacira BioSciences by 8.0% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 10,604 shares of the company’s stock worth $259,000 after acquiring an additional 785 shares in the last quarter. Finally, Franklin Resources Inc. lifted its holdings in shares of Pacira BioSciences by 2.6% in the fourth quarter. Franklin Resources Inc. now owns 33,860 shares of the company’s stock worth $876,000 after acquiring an additional 846 shares during the last quarter. Institutional investors and hedge funds own 99.73% of the company’s stock.

Pacira BioSciences Price Performance

Shares of NASDAQ PCRX opened at $25.88 on Thursday. The business has a fifty day moving average price of $24.09 and a two-hundred day moving average price of $23.19. The stock has a market capitalization of $1.02 billion, a PE ratio of 215.68 and a beta of 0.27. The company has a debt-to-equity ratio of 0.56, a current ratio of 4.73 and a quick ratio of 3.35. Pacira BioSciences has a fifty-two week low of $18.80 and a fifty-two week high of $27.64.

Pacira BioSciences (NASDAQ:PCRX) last released its earnings results on Thursday, April 30th. The company reported $0.60 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.61 by ($0.01). The company had revenue of $177.38 million for the quarter, compared to analyst estimates of $171.80 million. Pacira BioSciences had a return on equity of 10.24% and a net margin of 0.70%.The business’s revenue for the quarter was up 5.0% compared to the same quarter last year. During the same period last year, the company posted $0.65 earnings per share. As a group, equities analysts predict that Pacira BioSciences will post 1.94 earnings per share for the current fiscal year.

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.