Pacira BioSciences, Inc. (NASDAQ:PCRX) Receives $25.75 Average Target Price from Analysts

Key Points

• Pacira BioSciences, Inc. has received a consensus recommendation of "Hold" from analysts, with one sell, three hold, and five buy ratings from the nine brokerages covering the company.
• The average target price for Pacira BioSciences shares is $25.75, with the stock currently trading around $22.40 and having experienced a 52-week range between $11.16 and $27.64.
• In its latest earnings report, Pacira BioSciences achieved an EPS of $0.74, surpassing expectations, while reporting revenue of $181.10 million, which was slightly below analyst forecasts.

Pacira BioSciences, Inc. (NASDAQ:PCRX - Get Free Report) has been given an average recommendation of "Hold" by the nine ratings firms that are presently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and five have assigned a buy recommendation to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $25.75.

PCRX has been the subject of several recent research reports. Truist Financial raised shares of Pacira BioSciences from a "hold" rating to a "buy" rating and set a $30.00 price objective for the company in a research note on Friday, July 25th. Needham & Company LLC decreased their price target on shares of Pacira BioSciences from $32.00 to $30.00 and set a "buy" rating for the company in a research note on Friday, May 9th. Finally, Wall Street Zen upgraded shares of Pacira BioSciences from a "hold" rating to a "buy" rating in a research note on Friday, June 6th.

Pacira BioSciences Stock Up 5.9%

Shares of NASDAQ PCRX traded up $1.41 during midday trading on Thursday, hitting $25.18. The company's stock had a trading volume of 1,207,511 shares, compared to its average volume of 739,942. The business's fifty day simple moving average is $23.59 and its two-hundred day simple moving average is $24.59. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.38 and a quick ratio of 1.99. Pacira BioSciences has a 1 year low of $11.16 and a 1 year high of $27.64. The firm has a market capitalization of $1.13 billion, a price-to-earnings ratio of -9.06 and a beta of 0.48.

Pacira BioSciences (NASDAQ:PCRX - Get Free Report) last posted its quarterly earnings data on Tuesday, August 5th. The company reported $0.74 EPS for the quarter, beating the consensus estimate of $0.73 by $0.01. Pacira BioSciences had a negative net margin of 18.08% and a positive return on equity of 13.29%. The business had revenue of $181.10 million during the quarter, compared to analyst estimates of $183.11 million. During the same quarter last year, the firm posted $0.96 earnings per share. The business's revenue for the quarter was up 1.7% compared to the same quarter last year. On average, equities analysts predict that Pacira BioSciences will post 2.41 EPS for the current year.

Insiders Place Their Bets

In other news, SVP Lauren Riker sold 5,578 shares of Pacira BioSciences stock in a transaction on Wednesday, June 4th. The shares were sold at an average price of $26.21, for a total value of $146,199.38. Following the transaction, the senior vice president directly owned 59,564 shares of the company's stock, valued at $1,561,172.44. The trade was a 8.56% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 6.40% of the company's stock.

Hedge Funds Weigh In On Pacira BioSciences

A number of institutional investors have recently modified their holdings of PCRX. Raymond James Financial Inc. acquired a new position in shares of Pacira BioSciences in the 4th quarter valued at $190,000. LPL Financial LLC acquired a new position in shares of Pacira BioSciences in the 4th quarter valued at $251,000. Norges Bank acquired a new position in shares of Pacira BioSciences in the 4th quarter valued at $2,405,000. Wellington Management Group LLP increased its stake in Pacira BioSciences by 3.4% in the 4th quarter. Wellington Management Group LLP now owns 470,191 shares of the company's stock valued at $8,858,000 after buying an additional 15,542 shares during the period. Finally, Geode Capital Management LLC increased its stake in Pacira BioSciences by 0.5% in the 4th quarter. Geode Capital Management LLC now owns 1,091,970 shares of the company's stock valued at $20,578,000 after buying an additional 5,071 shares during the period. 99.73% of the stock is owned by institutional investors and hedge funds.

About Pacira BioSciences

Pacira Biosciences, Inc is a holding company, which engages in the provision of non-opioid pain management and regenerative health solutions to improve patients' journeys along the neural pain pathway. Its products include EXPAREL, iovera, and DepoFoam. The company was founded in December 2006 and is headquartered in Tampa, FL.