Pacira BioSciences, Inc. (NASDAQ:PCRX) Receives Average Recommendation of “Hold” from Brokerages

Shares of Pacira BioSciences, Inc. (NASDAQ:PCRX) have received a consensus recommendation of “Hold” from the six research firms that are currently covering the company, MarketBeat.com reports. Two investment 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 12-month price target among analysts that have covered the stock in the last year is $30.75.

A number of analysts have recently weighed in on the stock. HC Wainwright reaffirmed a “buy” rating and issued a $38.00 target price 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 note on Monday, December 29th. Zacks Research cut shares of Pacira BioSciences from a “hold” rating to a “strong sell” rating in a report on Monday, March 9th. Needham & Company LLC reaffirmed a “buy” rating and set a $30.00 target price on shares of Pacira BioSciences in a research note on Friday, January 9th. Finally, Wall Street Zen lowered shares of Pacira BioSciences from a “strong-buy” rating to a “buy” rating in a report on Saturday, February 28th.

Insider Buying and Selling

In related news, SVP Lauren Riker sold 4,000 shares of the firm’s stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $20.81, for a total transaction of $83,240.00. Following the completion of the transaction, the senior vice president owned 52,313 shares of the company’s stock, valued at $1,088,633.53. This trade represents a 7.10% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jonathan Slonin sold 3,261 shares of Pacira BioSciences stock in a transaction on Tuesday, March 17th. The shares were sold at an average price of $22.82, for a total value of $74,416.02. Following the transaction, the insider owned 223,640 shares of the company’s stock, valued at $5,103,464.80. The trade was a 1.44% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 8,677 shares of company stock valued at $191,980. 6.40% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of PCRX. Doma Perpetual Capital Management LLC lifted its stake in shares of Pacira BioSciences by 49.7% in the third quarter. Doma Perpetual Capital Management LLC now owns 2,701,324 shares of the company’s stock worth $69,613,000 after buying an additional 897,255 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Pacira BioSciences by 0.5% during the third quarter. Dimensional Fund Advisors LP now owns 2,163,473 shares of the company’s stock valued at $55,751,000 after acquiring an additional 11,831 shares in the last quarter. Balyasny Asset Management L.P. raised its holdings in Pacira BioSciences by 36.1% in the 2nd quarter. Balyasny Asset Management L.P. now owns 2,130,733 shares of the company’s stock worth $50,925,000 after acquiring an additional 565,288 shares during the last quarter. American Century Companies Inc. raised its holdings in Pacira BioSciences by 16.6% in the 3rd quarter. American Century Companies Inc. now owns 1,378,513 shares of the company’s stock worth $35,524,000 after acquiring an additional 196,000 shares during the last quarter. Finally, Geode Capital Management LLC lifted its position in Pacira BioSciences by 0.5% in the 2nd quarter. Geode Capital Management LLC now owns 1,143,190 shares of the company’s stock valued at $27,326,000 after acquiring an additional 5,658 shares in the last quarter. 99.73% of the stock is owned by hedge funds and other institutional investors.

Pacira BioSciences Trading Up 2.5%

PCRX opened at $22.57 on Friday. 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 has a 52 week low of $18.80 and a 52 week high of $27.64. The stock has a market cap of $913.86 million, a PE ratio of 150.47 and a beta of 0.21. The business has a 50 day moving average of $21.72 and a 200-day moving average of $23.56.

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

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.