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

Key Points

• Pacira BioSciences has a consensus analyst rating of "Hold", based on seven covering firms: one sell, three hold, and three buy ratings. The average 1-year price target is $29.40.
• The company reported Q1 revenue of $177.38 million, topping estimates, but earnings per share of $0.60 slightly missed expectations of $0.61. Analysts still forecast full-year EPS of 1.94.
• Insiders have been selling shares recently, including SVP Lauren Riker and CFO Shawn Cross, with 31,115 shares sold in the past 90 days. Meanwhile, institutional ownership remains very high at 99.73%.

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

A number of equities research analysts recently commented on PCRX shares. Barclays decreased their price objective on Pacira BioSciences from $27.00 to $25.00 and set an "equal weight" rating for the company in a research note on Thursday, March 26th. Wall Street Zen cut Pacira BioSciences from a "strong-buy" rating to a "buy" rating in a research note on Saturday, February 28th. Zacks Research raised Pacira BioSciences from a "strong sell" rating to a "hold" rating in a research note on Tuesday, April 7th. Weiss Ratings raised Pacira BioSciences from a "sell (d)" rating to a "sell (d+)" rating in a research note on Wednesday, May 20th. Finally, Needham & Company LLC lifted their price objective on Pacira BioSciences from $30.00 to $32.00 and gave the stock a "buy" rating in a research note on Friday, May 1st.

Insiders Place Their Bets

In other Pacira BioSciences news, SVP Lauren Riker sold 6,115 shares of the business's stock in a transaction dated Thursday, June 11th. The stock was sold at an average price of $23.50, for a total value of $143,702.50. Following the completion of the transaction, the senior vice president directly owned 62,284 shares of the company's stock, valued at approximately $1,463,674. The trade was a 8.94% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Shawn Cross sold 12,941 shares of the business's stock in a transaction dated Thursday, April 23rd. The shares were sold at an average price of $25.16, for a total value of $325,595.56. Following the completion of the transaction, the chief financial officer directly owned 105,341 shares of the company's stock, valued at approximately $2,650,379.56. The trade was a 10.94% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 31,115 shares of company stock valued at $771,896. 6.40% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Pacer Advisors Inc. grew its stake in Pacira BioSciences by 24.5% in the first quarter. Pacer Advisors Inc. now owns 235,427 shares of the company's stock valued at $5,321,000 after acquiring an additional 46,284 shares during the period. Empowered Funds LLC grew its stake in Pacira BioSciences by 21.6% in the first quarter. Empowered Funds LLC now owns 276,776 shares of the company's stock valued at $6,255,000 after acquiring an additional 49,171 shares during the period. Bank of America Corp DE grew its stake in Pacira BioSciences by 2.0% in the first quarter. Bank of America Corp DE now owns 188,437 shares of the company's stock valued at $4,259,000 after acquiring an additional 3,630 shares during the period. Amundi acquired a new position in Pacira BioSciences in the first quarter valued at about $309,000. Finally, California State Teachers Retirement System grew its stake in Pacira BioSciences by 44.2% in the first quarter. California State Teachers Retirement System now owns 61,306 shares of the company's stock valued at $1,386,000 after acquiring an additional 18,806 shares during the period. 99.73% of the stock is owned by institutional investors and hedge funds.

Pacira BioSciences Stock Up 3.6%

Shares of Pacira BioSciences stock opened at $25.24 on Friday. The company has a quick ratio of 3.35, a current ratio of 4.73 and a debt-to-equity ratio of 0.56. Pacira BioSciences has a 12 month low of $18.80 and a 12 month high of $27.64. The business has a fifty day simple moving average of $23.58 and a 200 day simple moving average of $23.24. The stock has a market cap of $993.19 million, a PE ratio of 210.35 and a beta of 0.29.

Pacira BioSciences (NASDAQ:PCRX - Get Free Report) last announced its quarterly earnings data on Thursday, April 30th. The company reported $0.60 EPS for the quarter, missing analysts' consensus estimates of $0.61 by ($0.01). Pacira BioSciences had a return on equity of 10.24% and a net margin of 0.70%.The company had revenue of $177.38 million for the quarter, compared to analyst estimates of $171.80 million. During the same period last year, the firm earned $0.65 earnings per share. The firm's revenue for the quarter was up 5.0% on a year-over-year basis. Research analysts predict that Pacira BioSciences will post 1.94 EPS for the current year.

Pacira BioSciences Company Profile

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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