Pacira BioSciences (NASDAQ:PCRX) Earns Market Perform Rating from Analysts at Leerink Partners

Analysts at Leerink Partners assumed coverage on shares of Pacira BioSciences (NASDAQ:PCRX) in a report issued on Wednesday, Briefing.com reports. The brokerage set a “market perform” rating and a $28.00 price target on the stock. Leerink Partners’ price target indicates a potential upside of 10.48% from the stock’s previous close.

PCRX has been the subject of a number of other reports. Royal Bank Of Canada lifted their price objective on shares of Pacira BioSciences from $24.00 to $25.00 and gave the stock a “sector perform” rating in a report on Wednesday, August 5th. Weiss Ratings raised Pacira BioSciences from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Tuesday, September 1st. HC Wainwright restated a “buy” rating and set a $38.00 target price on shares of Pacira BioSciences in a report on Wednesday, July 1st. Wall Street Zen lowered Pacira BioSciences from a “strong-buy” rating to a “buy” rating in a research report on Sunday, August 16th. Finally, Truist Financial began coverage on Pacira BioSciences in a research note on Monday, August 17th. They set a “buy” rating and a $30.00 price objective for the company. Three analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $29.83.

Pacira BioSciences Price Performance

Pacira BioSciences stock traded down $0.53 during mid-day trading on Wednesday, hitting $25.34. 20,864 shares of the company traded hands, compared to its average volume of 674,221. Pacira BioSciences has a one year low of $18.80 and a one year high of $27.66. The stock has a market cap of $1.01 billion, a price-to-earnings ratio of 72.47 and a beta of 0.26. The company has a debt-to-equity ratio of 0.54, a quick ratio of 3.94 and a current ratio of 5.04. The stock has a fifty day moving average price of $25.46 and a 200-day moving average price of $24.06.

Pacira BioSciences (NASDAQ:PCRX) last released 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 business had revenue of $192.40 million during the quarter, compared to analysts’ expectations of $191.06 million. Pacira BioSciences had a net margin of 1.96% and a return on equity of 9.68%. The business’s quarterly revenue was up 6.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.74 EPS. On average, equities analysts predict that Pacira BioSciences will post 1.98 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, SVP Lauren Riker sold 6,115 shares of the 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 completion of the transaction, the senior vice president owned 62,284 shares of the company’s stock, valued at approximately $1,463,674. This represents a 8.94% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Jonathan Slonin sold 3,040 shares of the firm’s stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $23.23, for a total value of $70,619.20. Following the completion of the transaction, the insider owned 216,384 shares of the company’s stock, valued at approximately $5,026,600.32. The trade was a 1.39% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 6.40% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Pacira BioSciences

A number of institutional investors have recently added to or reduced their stakes in PCRX. Integrated Wealth Concepts LLC grew its position in shares of Pacira BioSciences by 8.6% in the 2nd quarter. Integrated Wealth Concepts LLC now owns 43,764 shares of the company’s stock worth $1,110,000 after buying an additional 3,482 shares during the period. Baird Financial Group Inc. purchased a new position in Pacira BioSciences during the 2nd quarter valued at about $213,000. Amundi boosted its stake in Pacira BioSciences by 16.2% during the second quarter. Amundi now owns 15,894 shares of the company’s stock worth $403,000 after acquiring an additional 2,210 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in Pacira BioSciences during the second quarter worth about $851,000. Finally, California State Teachers Retirement System boosted its stake in Pacira BioSciences by 2,382.6% during the second quarter. California State Teachers Retirement System now owns 1,521,972 shares of the company’s stock worth $38,612,000 after acquiring an additional 1,460,666 shares in the last quarter. Institutional investors own 99.73% of the company’s stock.

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.