Pacira BioSciences (NASDAQ:PCRX) Rating Reiterated by Needham & Company LLC

Needham & Company LLC reaffirmed their buy rating on shares of Pacira BioSciences (NASDAQ:PCRX - Free Report) in a research note published on Tuesday morning, Benzinga reports. They currently have a $45.00 price objective on the stock.

Other equities research analysts have also recently issued reports about the stock. TheStreet raised shares of Pacira BioSciences from a d+ rating to a c rating in a research report on Thursday, February 29th. Wedbush reissued an outperform rating and issued a $57.00 price target on shares of Pacira BioSciences in a research report on Thursday, February 8th. Royal Bank of Canada reduced their price target on shares of Pacira BioSciences from $53.00 to $45.00 and set an outperform rating for the company in a research report on Friday, March 1st. Raymond James initiated coverage on shares of Pacira BioSciences in a report on Wednesday, December 20th. They issued an outperform rating and a $42.00 target price for the company. Finally, HC Wainwright reaffirmed a buy rating and issued a $57.00 target price on shares of Pacira BioSciences in a report on Monday, March 4th. Eleven research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has a consensus rating of Buy and a consensus price target of $49.50.

Pacira BioSciences Stock Up 0.1 %

Shares of Pacira BioSciences stock traded up $0.04 during trading on Tuesday, hitting $28.52. 363,923 shares of the stock were exchanged, compared to its average volume of 496,681. The stock has a market cap of $1.33 billion, a price-to-earnings ratio of 35.21 and a beta of 0.76. The firm's 50-day moving average price is $29.67 and its 200 day moving average price is $30.03. Pacira BioSciences has a 12-month low of $25.93 and a 12-month high of $48.60. The company has a debt-to-equity ratio of 0.59, a current ratio of 5.24 and a quick ratio of 4.17.

Pacira BioSciences (NASDAQ:PCRX - Get Free Report) last announced its quarterly earnings results on Thursday, February 29th. The company reported $0.71 earnings per share for the quarter, meeting analysts' consensus estimates of $0.71. Pacira BioSciences had a net margin of 6.22% and a return on equity of 12.81%. The firm had revenue of $181.24 million during the quarter, compared to analysts' expectations of $180.60 million. As a group, analysts forecast that Pacira BioSciences will post 2.18 earnings per share for the current fiscal year.

Insider Transactions at Pacira BioSciences

In other news, Director Gary W. Pace sold 1,066 shares of the business's stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $29.67, for a total transaction 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 sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, Director Gary W. Pace sold 1,066 shares of the business's stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $29.67, for a total transaction 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 sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Gary W. Pace sold 90,000 shares of the business's stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $30.60, for a total transaction of $2,754,000.00. Following the transaction, the director now owns 22,127 shares in the company, valued at $677,086.20. The disclosure for this sale can be found here. Company insiders own 6.60% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in PCRX. ICA Group Wealth Management LLC acquired a new position in Pacira BioSciences during the fourth quarter worth about $30,000. Financial Freedom LLC acquired a new position in Pacira BioSciences during the fourth quarter worth about $33,000. China Universal Asset Management Co. Ltd. grew its position in Pacira BioSciences by 96.8% during the third quarter. China Universal Asset Management Co. Ltd. now owns 1,185 shares of the company's stock worth $36,000 after buying an additional 583 shares during the period. Neo Ivy Capital Management acquired a new position in Pacira BioSciences during the second quarter worth about $44,000. Finally, Torno Capital LLC acquired a new position in Pacira BioSciences during the fourth quarter worth about $51,000. 99.73% of the stock is currently owned by institutional investors and hedge funds.

About Pacira BioSciences

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.