Pacira BioSciences (NASDAQ:PCRX) Price Target Raised to $25.00 at Royal Bank Of Canada

Pacira BioSciences (NASDAQ:PCRX) had its price target boosted by equities research analysts at Royal Bank Of Canada from $24.00 to $25.00 in a research report issued on Wednesday,Benzinga reports. The brokerage presently has a “sector perform” rating on the stock. Royal Bank Of Canada’s price objective indicates a potential upside of 2.36% from the stock’s current price.

Several other brokerages have also recently issued reports on PCRX. Needham & Company LLC raised their price objective on Pacira BioSciences from $32.00 to $33.00 and gave the stock a “buy” rating in a research note on Wednesday. Zacks Research upgraded Pacira BioSciences from a “strong sell” rating to a “hold” rating in a research report on Tuesday, April 7th. HC Wainwright reiterated a “buy” rating and issued a $38.00 price target on shares of Pacira BioSciences in a report on Wednesday, July 1st. Finally, Weiss Ratings raised shares of Pacira BioSciences from a “sell (d)” rating to a “sell (d+)” rating in a research report on Wednesday, May 20th. Three equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Pacira BioSciences has a consensus rating of “Hold” and an average price target of $29.80.

Pacira BioSciences Stock Performance

Shares of NASDAQ PCRX traded down $3.20 during mid-day trading on Wednesday, hitting $24.42. The stock had a trading volume of 571,212 shares, compared to its average volume of 688,955. The firm has a market cap of $961.08 million, a PE ratio of 201.58 and a beta of 0.27. 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 company has a 50 day moving average of $24.60 and a two-hundred day moving average of $23.32. Pacira BioSciences has a twelve month low of $18.80 and a twelve month high of $27.66.

Pacira BioSciences (NASDAQ:PCRX) last issued its quarterly earnings results on Tuesday, August 4th. The company reported $0.73 EPS 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 analysts’ expectations of $191.06 million. Pacira BioSciences had a return on equity of 10.24% and a net margin of 0.70%.The firm’s revenue was up 6.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.74 EPS. Research analysts predict that Pacira BioSciences will post 1.94 EPS for the current fiscal year.

Insider Buying and Selling at Pacira BioSciences

In other news, SVP Lauren Riker sold 6,115 shares of the business’s stock in a transaction dated Thursday, June 11th. The stock was sold at an average price of $23.50, for a total value of $143,702.50. Following the completion of the transaction, the senior vice president 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 filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 6.40% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Balyasny Asset Management L.P. lifted its holdings in Pacira BioSciences by 36.1% in the second quarter. Balyasny Asset Management L.P. now owns 2,130,733 shares of the company’s stock valued at $50,925,000 after acquiring an additional 565,288 shares during the period. Goldman Sachs Group Inc. grew its stake in shares of Pacira BioSciences by 49.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,104,796 shares of the company’s stock worth $27,454,000 after purchasing an additional 367,869 shares during the period. Hillsdale Investment Management Inc. acquired a new stake in shares of Pacira BioSciences during the 4th quarter worth approximately $7,976,000. LSV Asset Management increased its holdings in shares of Pacira BioSciences by 179.8% during the 4th quarter. LSV Asset Management now owns 319,800 shares of the company’s stock valued at $8,276,000 after purchasing an additional 205,500 shares in the last quarter. Finally, Marshall Wace LLP purchased a new stake in Pacira BioSciences during the second quarter worth $4,550,000. 99.73% of the stock is currently owned by hedge funds and other institutional investors.

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.