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

Key Points

• Analysts are mixed on Pacira BioSciences, with seven firms giving the stock an average rating of “Hold” and a 1-year average target price of $29.40. The split includes three buy ratings, three hold ratings, and one sell rating.
• Recent insider selling included CFO Shawn Cross selling 12,941 shares and insider Jonathan Slonin selling 3,261 shares. Over the past 90 days, insiders sold 28,261 shares worth about $702,610.
• Pacira’s latest results were slightly mixed: quarterly EPS of $0.60 missed estimates by a penny, while revenue of $177.38 million beat expectations and rose 5% year over year. The stock was down 2.1% and last traded at $23.15.

Shares of Pacira BioSciences, Inc. (NASDAQ:PCRX - Get Free Report) have been given an average recommendation of "Hold" by the seven research firms that are currently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $29.40.

Several research analysts have commented on the company. Royal Bank Of Canada boosted their target price on Pacira BioSciences from $22.00 to $24.00 and gave the stock a "sector perform" rating in a research note on Friday, May 1st. Barclays reduced their price target on Pacira BioSciences from $27.00 to $25.00 and set an "equal weight" rating on the stock in a report on Thursday, March 26th. HC Wainwright restated a "buy" rating and set a $38.00 price target on shares of Pacira BioSciences in a report on Friday, January 9th. Zacks Research upgraded Pacira BioSciences from a "strong sell" rating to a "hold" rating in a report on Tuesday, April 7th. Finally, Needham & Company LLC boosted their price target on Pacira BioSciences from $30.00 to $32.00 and gave the stock a "buy" rating in a report on Friday, May 1st.

Insider Activity

In other news, CFO Shawn Cross sold 12,941 shares of the business's stock in a transaction dated Thursday, April 23rd. The stock was sold at an average price of $25.16, for a total transaction of $325,595.56. Following the sale, the chief financial officer directly owned 105,341 shares in the company, valued at approximately $2,650,379.56. The trade was a 10.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Jonathan Slonin sold 3,261 shares of the business's stock in a transaction dated Tuesday, March 17th. The stock was sold at an average price of $22.82, for a total value of $74,416.02. Following the sale, the insider owned 223,640 shares in the company, valued at approximately $5,103,464.80. This trade represents a 1.44% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 28,261 shares of company stock worth $702,610. Company insiders own 6.40% of the company's stock.

Institutional Trading of Pacira BioSciences

Several hedge funds and other institutional investors have recently made changes to their positions in PCRX. Hantz Financial Services Inc. boosted its holdings in Pacira BioSciences by 175.4% in the third quarter. Hantz Financial Services Inc. now owns 1,132 shares of the company's stock valued at $29,000 after acquiring an additional 721 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its holdings in Pacira BioSciences by 5,900.0% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,500 shares of the company's stock valued at $39,000 after acquiring an additional 1,475 shares during the last quarter. Meeder Asset Management Inc. bought a new stake in Pacira BioSciences in the first quarter valued at approximately $46,000. Kestra Advisory Services LLC bought a new stake in Pacira BioSciences in the fourth quarter valued at approximately $48,000. Finally, Eurizon Capital SGR S.p.A. bought a new stake in Pacira BioSciences in the fourth quarter valued at approximately $51,000. 99.73% of the stock is currently owned by institutional investors.

Pacira BioSciences Stock Down 2.1%

Shares of NASDAQ PCRX opened at $23.15 on Friday. The company has a current ratio of 4.73, a quick ratio of 3.35 and a debt-to-equity ratio of 0.56. The company has a market cap of $910.95 million, a price-to-earnings ratio of 192.93 and a beta of 0.32. Pacira BioSciences has a 12 month low of $18.80 and a 12 month high of $27.64. The stock has a 50-day moving average price of $23.36 and a two-hundred day moving average price of $23.17.

Pacira BioSciences (NASDAQ:PCRX - Get Free Report) last issued its earnings results on Thursday, April 30th. The company reported $0.60 EPS for the quarter, missing the consensus estimate of $0.61 by ($0.01). The business had revenue of $177.38 million for the quarter, compared to analyst estimates of $171.80 million. Pacira BioSciences had a return on equity of 10.24% and a net margin of 0.70%.The firm's revenue was up 5.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.65 EPS. As a group, analysts forecast that Pacira BioSciences will post 1.85 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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