Pacira BioSciences (NASDAQ:PCRX) Coverage Initiated by Analysts at Truist Financial

Truist Financial initiated coverage on shares of Pacira BioSciences (NASDAQ:PCRX) in a research report issued to clients and investors on Monday. The firm set a “buy” rating and a $30.00 price target on the stock. Truist Financial’s price objective would indicate a potential upside of 28.81% from the stock’s previous close.

Other equities research analysts have also issued reports about the stock. Wall Street Zen lowered shares of Pacira BioSciences from a “strong-buy” rating to a “buy” rating in a report on Sunday. Weiss Ratings raised shares of Pacira BioSciences from a “sell (d)” rating to a “sell (d+)” rating in a report on Wednesday, May 20th. Royal Bank Of Canada increased their target price on shares of Pacira BioSciences from $24.00 to $25.00 and gave the company a “sector perform” rating in a report on Wednesday, August 5th. HC Wainwright reiterated a “buy” rating and issued a $38.00 target price on shares of Pacira BioSciences in a research report on Wednesday, July 1st. Finally, Needham & Company LLC boosted their price target on shares of Pacira BioSciences from $32.00 to $33.00 and gave the stock a “buy” rating in a research note on Wednesday, August 5th. Three analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $30.20.

Pacira BioSciences Price Performance

Shares of NASDAQ PCRX traded up $0.29 during trading hours on Monday, reaching $23.29. 23,959 shares of the stock traded hands, compared to its average volume of 694,474. The company has a market capitalization of $928.34 million, a P/E ratio of 66.36 and a beta of 0.27. The company has a quick ratio of 3.94, a current ratio of 5.04 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 $27.66. The company’s 50-day simple moving average is $24.80 and its two-hundred day simple moving average is $23.56.

Pacira BioSciences (NASDAQ:PCRX) last released its earnings results on Tuesday, August 4th. The company reported $0.73 earnings per share for the quarter, topping analysts’ consensus estimates of $0.65 by $0.08. The company had revenue of $192.40 million during the quarter, compared to the consensus estimate of $191.06 million. Pacira BioSciences had a return on equity of 9.68% and a net margin of 1.96%.Pacira BioSciences’s quarterly revenue was up 6.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.74 EPS. Equities research analysts forecast that Pacira BioSciences will post 1.98 EPS for the current year.

Insider Transactions at Pacira BioSciences

In other Pacira BioSciences news, SVP Lauren Riker sold 6,115 shares of Pacira BioSciences stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of $23.50, for a total value of $143,702.50. Following the transaction, the senior vice president directly owned 62,284 shares of the company’s stock, valued at $1,463,674. The trade was a 8.94% decrease in their position. The sale 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 currently owned by insiders.

Institutional Trading of Pacira BioSciences

Several hedge funds and other institutional investors have recently bought and sold shares of PCRX. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Pacira BioSciences by 5,900.0% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,500 shares of the company’s stock valued at $39,000 after purchasing an additional 1,475 shares during the period. Meeder Asset Management Inc. purchased a new position in shares of Pacira BioSciences in the first quarter worth $46,000. Kestra Advisory Services LLC purchased a new position in shares of Pacira BioSciences in the fourth quarter worth $48,000. Eurizon Capital SGR S.p.A. bought a new stake in Pacira BioSciences during the 4th quarter valued at $51,000. Finally, Global Retirement Partners LLC bought a new stake in Pacira BioSciences during the 2nd quarter valued at $51,000. 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.