Pacira BioSciences, Inc. (NASDAQ:PCRX) Receives Consensus Rating of "Hold" from Brokerages

Key Points

• Pacira BioSciences has a consensus “Hold” rating from eight analysts, with five holds and three buys. The average 12-month price target is approximately $29.83, versus the reported share price of $25.16.
• The company exceeded quarterly expectations, reporting adjusted EPS of $0.73 versus a $0.65 consensus estimate and revenue of $192.4 million, up 6.2% year over year.
• Institutional investors own a substantial 99.73% of outstanding shares, while an insider sold 3,040 shares under a pre-arranged Rule 10b5-1 plan.

Shares of Pacira BioSciences, Inc. (NASDAQ:PCRX - Get Free Report) have received a consensus recommendation of "Hold" from the eight ratings firms that are covering the company, MarketBeat.com reports. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 1 year target price among brokers that have covered the stock in the last year is $29.8333.

Several analysts have recently issued reports on the stock. Weiss Ratings upgraded shares of Pacira BioSciences from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Tuesday, September 1st. Leerink Partners initiated coverage on shares of Pacira BioSciences in a research report on Wednesday. They issued a "market perform" rating and a $28.00 price objective for the company. Royal Bank Of Canada increased their price objective on shares of Pacira BioSciences from $24.00 to $25.00 and gave the company a "sector perform" rating in a research note on Wednesday, August 5th. Wall Street Zen cut shares of Pacira BioSciences from a "strong-buy" rating to a "buy" rating in a research report on Sunday, August 16th. Finally, Needham & Company LLC boosted their target price on Pacira BioSciences from $32.00 to $33.00 and gave the stock a "buy" rating in a research note on Wednesday, August 5th.

Insider Buying and Selling

In other Pacira BioSciences news, insider Jonathan Slonin sold 3,040 shares of the business's stock in a transaction on Monday, August 17th. The stock was sold at an average price of $23.23, for a total value of $70,619.20. Following 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 6.40% of the company's stock.

Institutional Investors Weigh In On Pacira BioSciences

Large investors have recently made changes to their positions in the business. Hillsdale Investment Management Inc. bought a new stake in shares of Pacira BioSciences in the 4th quarter worth approximately $7,976,000. Wedge Capital Management L L P NC bought a new position in Pacira BioSciences during the second quarter valued at $2,399,000. Gagnon Advisors LLC increased its position in Pacira BioSciences by 22.3% in the fourth quarter. Gagnon Advisors LLC now owns 260,908 shares of the company's stock worth $6,752,000 after buying an additional 47,506 shares during the last quarter. LSV Asset Management increased its position in Pacira BioSciences by 179.8% in the fourth quarter. LSV Asset Management now owns 319,800 shares of the company's stock worth $8,276,000 after buying an additional 205,500 shares during the last quarter. Finally, Rice Hall James & Associates LLC bought a new stake in shares of Pacira BioSciences in the second quarter valued at $2,369,000. 99.73% of the stock is owned by hedge funds and other institutional investors.

Pacira BioSciences Stock Performance

Shares of Pacira BioSciences stock opened at $25.16 on Friday. The company has a market cap of $1.00 billion, a PE ratio of 71.89 and a beta of 0.26. Pacira BioSciences has a 52 week low of $18.80 and a 52 week high of $27.66. The business has a 50 day moving average price of $25.48 and a 200-day moving average price of $24.10. The company has a quick ratio of 3.94, a current ratio of 5.04 and a debt-to-equity ratio of 0.54.

Pacira BioSciences (NASDAQ:PCRX - Get Free Report) last announced its earnings results on Tuesday, August 4th. The company reported $0.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.08. Pacira BioSciences had a return on equity of 9.68% and a net margin of 1.96%.The company had revenue of $192.40 million for the quarter, compared to analysts' expectations of $191.06 million. During the same quarter in the previous year, the firm earned $0.74 earnings per share. Pacira BioSciences's quarterly revenue was up 6.2% on a year-over-year basis. Equities analysts anticipate that Pacira BioSciences will post 1.98 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.

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