Pacira BioSciences, Inc. (NASDAQ:PCRX) Receives Average Rating of “Buy” from Analysts

Shares of Pacira BioSciences, Inc. (NASDAQ:PCRX) have been assigned a consensus rating of “Buy” from the ten analysts that are covering the firm, MarketBeat.com reports. Ten analysts have rated the stock with a buy recommendation. The average 1-year price target among analysts that have covered the stock in the last year is $49.50.

A number of research firms have issued reports on PCRX. HC Wainwright restated a “buy” rating and issued a $57.00 target price on shares of Pacira BioSciences in a report on Monday, March 4th. TheStreet upgraded shares of Pacira BioSciences from a “d+” rating to a “c” rating in a report on Thursday, February 29th. Royal Bank of Canada reduced their target price on shares of Pacira BioSciences from $53.00 to $45.00 and set an “outperform” rating on the stock in a report on Friday, March 1st. JPMorgan Chase & Co. began coverage on shares of Pacira BioSciences in a report on Thursday, March 7th. They issued an “overweight” rating and a $45.00 target price on the stock. Finally, Wedbush restated an “outperform” rating and issued a $57.00 target price on shares of Pacira BioSciences in a report on Thursday, February 8th.

Pacira BioSciences Price Performance

Pacira BioSciences stock opened at $26.10 on Friday. Pacira BioSciences has a 52 week low of $25.76 and a 52 week high of $48.60. The company has a quick ratio of 4.17, a current ratio of 5.24 and a debt-to-equity ratio of 0.59. The firm’s 50-day simple moving average is $29.09 and its 200 day simple moving average is $29.79. The firm has a market capitalization of $1.21 billion, a PE ratio of 32.22 and a beta of 0.76.

Pacira BioSciences (NASDAQ:PCRX) last released its quarterly earnings data on Thursday, February 29th. The company reported $0.71 EPS for the quarter, hitting the consensus estimate of $0.71. Pacira BioSciences had a net margin of 6.22% and a return on equity of 12.81%. The business had revenue of $181.24 million for the quarter, compared to analyst estimates of $180.60 million. On average, equities research analysts predict that Pacira BioSciences will post 2.18 EPS for the current fiscal year.

Insider Buying and Selling

In other Pacira BioSciences news, Director Gary W. Pace sold 90,000 shares of the firm’s stock in a transaction on Friday, March 8th. The stock was sold at an average price of $30.60, for a total value of $2,754,000.00. Following the sale, the director now directly owns 22,127 shares in the company, valued at $677,086.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Pacira BioSciences news, Director Gary W. Pace sold 90,000 shares of the firm’s stock in a transaction on Friday, March 8th. The stock was sold at an average price of $30.60, for a total value of $2,754,000.00. Following the sale, the director now directly owns 22,127 shares in the company, valued at $677,086.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Gary W. Pace sold 1,066 shares of the firm’s stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $29.67, for a total value of $31,628.22. Following the transaction, the director now directly owns 140,384 shares in the company, valued at $4,165,193.28. The disclosure for this sale can be found here. Corporate insiders own 6.60% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of PCRX. Rice Hall James & Associates LLC increased its holdings in shares of Pacira BioSciences by 8.7% during the first quarter. Rice Hall James & Associates LLC now owns 456,798 shares of the company’s stock valued at $34,863,000 after purchasing an additional 36,593 shares during the period. Raymond James & Associates increased its holdings in shares of Pacira BioSciences by 2.3% during the first quarter. Raymond James & Associates now owns 35,299 shares of the company’s stock valued at $2,694,000 after purchasing an additional 791 shares during the period. Raymond James Financial Services Advisors Inc. acquired a new position in Pacira BioSciences during the first quarter worth about $339,000. Natixis Advisors L.P. grew its holdings in Pacira BioSciences by 22.6% during the first quarter. Natixis Advisors L.P. now owns 12,898 shares of the company’s stock worth $984,000 after acquiring an additional 2,381 shares during the period. Finally, MetLife Investment Management LLC grew its holdings in Pacira BioSciences by 55.3% during the first quarter. MetLife Investment Management LLC now owns 23,671 shares of the company’s stock worth $1,807,000 after acquiring an additional 8,425 shares during the period. 99.73% of the stock is owned by institutional investors and hedge funds.

Pacira BioSciences Company Profile

Pacira BioSciences, Inc engages in the development, manufacture, marketing, distribution, and sale of non-opioid pain management and regenerative health solutions to healthcare practitioners 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 to targeted nerves.