Pacira BioSciences, Inc. (NASDAQ:PCRX) Given Consensus Recommendation of “Hold” by Brokerages

Pacira BioSciences, Inc. (NASDAQ:PCRX) has received an average recommendation of “Hold” from the seven analysts that are covering the firm, MarketBeat reports. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company. The average 12 month target price among brokerages that have covered the stock in the last year is $29.40.

Several research firms have recently commented on PCRX. Zacks Research raised Pacira BioSciences from a “strong sell” rating to a “hold” rating in a report on Tuesday, April 7th. Needham & Company LLC increased their price objective on Pacira BioSciences from $30.00 to $32.00 and gave the company a “buy” rating in a report on Friday, May 1st. Weiss Ratings raised Pacira BioSciences from a “sell (d)” rating to a “sell (d+)” rating in a report on Wednesday, May 20th. Wall Street Zen downgraded Pacira BioSciences from a “strong-buy” rating to a “buy” rating in a report on Saturday, February 28th. Finally, Royal Bank Of Canada increased their price objective on Pacira BioSciences from $22.00 to $24.00 and gave the company a “sector perform” rating in a report on Friday, May 1st.

Insider Activity at Pacira BioSciences

In other news, insider Jonathan Slonin sold 3,261 shares of the firm’s stock in a transaction that occurred on Tuesday, March 17th. The stock was sold at an average price of $22.82, for a total value of $74,416.02. Following the completion of the sale, the insider directly owned 223,640 shares of the company’s stock, valued at $5,103,464.80. This trade represents a 1.44% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Shawn Cross sold 12,941 shares of the firm’s stock in a transaction that occurred on Thursday, April 23rd. The shares were sold at an average price of $25.16, for a total value of $325,595.56. Following the completion of the sale, the chief financial officer directly owned 105,341 shares of the company’s stock, valued at approximately $2,650,379.56. The trade was a 10.94% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 28,261 shares of company stock valued at $702,610. 6.40% of the stock is currently owned by insiders.

Institutional Trading of Pacira BioSciences

A number of hedge funds have recently made changes to their positions in the business. PNC Financial Services Group Inc. lifted its position in shares of Pacira BioSciences by 15.1% in the first quarter. PNC Financial Services Group Inc. now owns 3,751 shares of the company’s stock valued at $85,000 after buying an additional 492 shares during the last quarter. Inspire Investing LLC lifted its position in shares of 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 buying an additional 556 shares during the last quarter. Hantz Financial Services Inc. lifted its position in shares of Pacira BioSciences by 175.4% in the third quarter. Hantz Financial Services Inc. now owns 1,132 shares of the company’s stock valued at $29,000 after buying an additional 721 shares during the last quarter. State of Wyoming lifted its position in shares of Pacira BioSciences by 7.0% in the fourth quarter. State of Wyoming now owns 11,155 shares of the company’s stock valued at $289,000 after buying an additional 728 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its position in shares of Pacira BioSciences by 8.0% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 10,604 shares of the company’s stock valued at $259,000 after buying an additional 785 shares during the last quarter. 99.73% of the stock is owned by institutional investors and hedge funds.

Pacira BioSciences Stock Performance

Shares of NASDAQ PCRX opened at $22.25 on Wednesday. The stock has a 50 day moving average price of $23.59 and a 200 day moving average price of $23.32. Pacira BioSciences has a 52 week low of $18.80 and a 52 week high of $27.64. The company has a debt-to-equity ratio of 0.56, a quick ratio of 3.35 and a current ratio of 4.73. The stock has a market capitalization of $875.54 million, a PE ratio of 185.43 and a beta of 0.29.

Pacira BioSciences (NASDAQ:PCRX) last posted its quarterly earnings results on Thursday, April 30th. The company reported $0.60 earnings per share for the quarter, missing the consensus estimate of $0.61 by ($0.01). Pacira BioSciences had a return on equity of 10.24% and a net margin of 0.70%.The company had revenue of $177.38 million for the quarter, compared to analyst estimates of $171.80 million. During the same period last year, the firm earned $0.65 EPS. The firm’s revenue for the quarter was up 5.0% compared to the same quarter last year. Analysts predict that Pacira BioSciences will post 1.91 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.