Wedbush Reiterates “Outperform” Rating for Pacira BioSciences (NASDAQ:PCRX)

Wedbush reissued their outperform rating on shares of Pacira BioSciences (NASDAQ:PCRXGet Rating) in a report published on Wednesday morning, RTT News reports. Wedbush currently has a $94.00 target price on the stock.

PCRX has been the subject of several other reports. Piper Sandler reduced their price objective on Pacira BioSciences from $84.00 to $80.00 and set an overweight rating for the company in a report on Thursday, July 21st. Needham & Company LLC reduced their price objective on Pacira BioSciences from $84.00 to $76.00 and set a buy rating for the company in a report on Wednesday, June 15th. Finally, TheStreet raised Pacira BioSciences from a c rating to a b- rating in a research report on Wednesday, August 3rd. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of Moderate Buy and an average target price of $80.75.

Pacira BioSciences Price Performance

Shares of NASDAQ:PCRX opened at $55.31 on Wednesday. Pacira BioSciences has a 1-year low of $45.05 and a 1-year high of $82.16. The company has a debt-to-equity ratio of 0.95, a current ratio of 3.95 and a quick ratio of 3.20. The business has a fifty day moving average price of $55.64 and a 200-day moving average price of $62.60. The company has a market capitalization of $2.51 billion, a PE ratio of 67.45 and a beta of 0.86.

Pacira BioSciences (NASDAQ:PCRXGet Rating) last released its quarterly earnings data on Wednesday, August 3rd. The company reported $0.34 EPS for the quarter, missing the consensus estimate of $0.57 by ($0.23). Pacira BioSciences had a return on equity of 13.13% and a net margin of 6.39%. The business had revenue of $169.41 million during the quarter, compared to the consensus estimate of $169.27 million. During the same quarter in the previous year, the business posted $0.60 earnings per share. Pacira BioSciences’s quarterly revenue was up 24.9% compared to the same quarter last year. As a group, equities analysts expect that Pacira BioSciences will post 2.01 EPS for the current fiscal year.

Insider Activity

In other news, insider Jonathan Slonin sold 924 shares of Pacira BioSciences stock in a transaction dated Tuesday, July 5th. The stock was sold at an average price of $57.19, for a total transaction of $52,843.56. Following the transaction, the insider now directly owns 37,387 shares of the company’s stock, valued at approximately $2,138,162.53. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, insider Jonathan Slonin sold 924 shares of Pacira BioSciences stock in a transaction dated Tuesday, July 5th. The stock was sold at an average price of $57.19, for a total transaction of $52,843.56. Following the transaction, the insider now directly owns 37,387 shares of the company’s stock, valued at approximately $2,138,162.53. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Paul J. Hastings sold 533 shares of Pacira BioSciences stock in a transaction dated Monday, July 11th. The shares were sold at an average price of $56.95, for a total value of $30,354.35. Following the transaction, the director now directly owns 7,179 shares in the company, valued at $408,844.05. The disclosure for this sale can be found here. Insiders have sold a total of 1,933 shares of company stock valued at $109,711 in the last ninety days. Corporate insiders own 6.10% of the company’s stock.

Institutional Trading of Pacira BioSciences

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Prospera Financial Services Inc bought a new stake in Pacira BioSciences during the 1st quarter valued at approximately $78,000. American Trust raised its stake in Pacira BioSciences by 27.7% during the 1st quarter. American Trust now owns 4,972 shares of the company’s stock valued at $379,000 after purchasing an additional 1,079 shares during the period. Rice Hall James & Associates LLC raised its stake in Pacira BioSciences by 25.8% during the 4th quarter. Rice Hall James & Associates LLC now owns 420,205 shares of the company’s stock valued at $25,284,000 after purchasing an additional 86,256 shares during the period. Rhumbline Advisers raised its stake in Pacira BioSciences by 1.0% during the 4th quarter. Rhumbline Advisers now owns 110,427 shares of the company’s stock valued at $6,644,000 after purchasing an additional 1,130 shares during the period. Finally, Lisanti Capital Growth LLC raised its stake in Pacira BioSciences by 143.9% during the 1st quarter. Lisanti Capital Growth LLC now owns 302,413 shares of the company’s stock valued at $23,080,000 after purchasing an additional 178,428 shares during the period.

About Pacira BioSciences

(Get Rating)

Pacira BioSciences, Inc provides non-opioid pain management and regenerative health solutions for healthcare practitioners and their patients in the United States. The company offers EXPAREL, a bupivacaine liposome injectable suspension; ZILRETTA, a triamcinolone acetonide extended-release injectable suspension; and iovera system, a non-opioid handheld cryoanalgesia device used to produce controlled doses of cold temperature only to targeted nerves.

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Analyst Recommendations for Pacira BioSciences (NASDAQ:PCRX)

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