Pacira BioSciences’ (PCRX) “Buy” Rating Reiterated at Needham & Company LLC

Needham & Company LLC reiterated their buy rating on shares of Pacira BioSciences (NASDAQ:PCRX) in a research report report published on Friday morning,Benzinga reports. Needham & Company LLC currently has a $30.00 target price on the stock.

A number of other research firms have also recently weighed in on PCRX. Truist Financial reduced their price objective on shares of Pacira BioSciences from $30.00 to $28.00 and set a “buy” rating for the company in a research report on Friday, November 7th. Wall Street Zen raised shares of Pacira BioSciences from a “buy” rating to a “strong-buy” rating in a research note on Saturday, November 8th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Pacira BioSciences in a research note on Monday, December 29th. Barclays assumed coverage on Pacira BioSciences in a report on Tuesday, December 9th. They issued an “equal weight” rating and a $27.00 price objective on the stock. Finally, HC Wainwright reissued a “buy” rating and set a $38.00 target price on shares of Pacira BioSciences in a report on Friday. Three research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $28.20.

Pacira BioSciences Price Performance

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

Pacira BioSciences (NASDAQ:PCRX) last posted its quarterly earnings data on Thursday, November 6th. The company reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.65 by $0.05. The business had revenue of $179.52 million during the quarter, compared to analysts’ expectations of $182.86 million. Pacira BioSciences had a return on equity of 12.82% and a net margin of 2.99%.The business’s revenue was up 6.5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.79 earnings per share. Sell-side analysts predict that Pacira BioSciences will post 2.41 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CFO Shawn Cross sold 15,896 shares of the company’s stock in a transaction dated Tuesday, December 9th. The shares were sold at an average price of $25.03, for a total transaction of $397,876.88. Following the completion of the sale, the chief financial officer owned 56,250 shares of the company’s stock, valued at approximately $1,407,937.50. This represents a 22.03% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Lauren Riker sold 1,416 shares of the stock in a transaction dated 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 of the company’s stock, valued at approximately $1,431,711.36. The trade was a 2.34% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 34,336 shares of company stock worth $851,868. 6.40% of the stock is owned by insiders.

Hedge Funds Weigh In On Pacira BioSciences

Institutional investors have recently added to or reduced their stakes in the stock. Hantz Financial Services Inc. boosted its stake in Pacira BioSciences by 175.4% during the third quarter. Hantz Financial Services Inc. now owns 1,132 shares of the company’s stock worth $29,000 after buying an additional 721 shares during the period. Tidemark LLC acquired a new position in shares of Pacira BioSciences in the 3rd quarter worth approximately $56,000. Strs Ohio purchased a new position in shares of Pacira BioSciences during the 1st quarter worth approximately $75,000. iSAM Funds UK Ltd acquired a new stake in Pacira BioSciences in the 3rd quarter valued at approximately $80,000. Finally, Vestcor Inc purchased a new stake in Pacira BioSciences in the third quarter valued at approximately $90,000. 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.