Pacira BioSciences (NASDAQ:PCRX) Hits New 1-Year High - Should You Buy?

Key Points

• Pacira BioSciences reached a new 52-week high of $27.64 during trading on Wednesday, with the stock trading at $27.34 at the close.
• Analysts have a consensus rating of "Moderate Buy" for Pacira BioSciences, with five analysts giving it a Buy rating and an average price target of $30.83.
• The company reported earnings of $0.74 per share for the last quarter, beating estimates, although their revenue was slightly below analyst forecasts at $181.10 million.

Pacira BioSciences, Inc. (NASDAQ:PCRX - Get Free Report) hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $27.64 and last traded at $27.34, with a volume of 28204 shares. The stock had previously closed at $27.22.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. Truist Financial raised Pacira BioSciences from a "hold" rating to a "buy" rating and set a $30.00 target price for the company in a research note on Friday, July 25th. Zacks Research raised Pacira BioSciences from a "strong sell" rating to a "hold" rating in a research note on Thursday, August 14th. Finally, Wall Street Zen upgraded Pacira BioSciences from a "hold" rating to a "buy" rating in a research report on Friday, June 6th. Five analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $30.83.

Pacira BioSciences Trading Down 1.0%

The company has a debt-to-equity ratio of 0.50, a current ratio of 2.38 and a quick ratio of 1.91. The company has a market cap of $1.19 billion, a PE ratio of -9.51 and a beta of 0.42. The company's 50 day simple moving average is $23.97 and its two-hundred day simple moving average is $24.58.

Pacira BioSciences (NASDAQ:PCRX - Get Free Report) last announced its earnings results on Tuesday, August 5th. The company reported $0.74 EPS for the quarter, beating analysts' consensus estimates of $0.73 by $0.01. The company had revenue of $181.10 million during the quarter, compared to analysts' expectations of $183.11 million. Pacira BioSciences had a positive return on equity of 13.29% and a negative net margin of 18.08%.Pacira BioSciences's revenue for the quarter was up 1.7% on a year-over-year basis. During the same period last year, the business posted $0.96 EPS. Pacira BioSciences has set its FY 2025 guidance at EPS. As a group, sell-side analysts anticipate that Pacira BioSciences, Inc. will post 2.41 EPS for the current fiscal year.

Insider Activity

In other news, Director Marcelo Bigal sold 4,912 shares of the firm's stock in a transaction that occurred on Thursday, August 7th. The shares were sold at an average price of $23.67, for a total transaction of $116,267.04. Following the transaction, the director directly owned 11,393 shares in the company, valued at approximately $269,672.31. This trade represents a 30.13% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 6.40% of the company's stock.

Institutional Investors Weigh In On Pacira BioSciences

Several institutional investors have recently made changes to their positions in PCRX. State of Wyoming increased its stake in Pacira BioSciences by 8.0% in the fourth quarter. State of Wyoming now owns 6,566 shares of the company's stock valued at $124,000 after acquiring an additional 487 shares during the last quarter. PNC Financial Services Group Inc. increased its stake in Pacira BioSciences by 17.8% in the second quarter. PNC Financial Services Group Inc. now owns 3,511 shares of the company's stock valued at $84,000 after acquiring an additional 531 shares during the last quarter. US Bancorp DE increased its stake in Pacira BioSciences by 31.0% in the first quarter. US Bancorp DE now owns 2,270 shares of the company's stock valued at $56,000 after acquiring an additional 537 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Pacira BioSciences by 3.1% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 26,077 shares of the company's stock valued at $491,000 after buying an additional 794 shares during the last quarter. Finally, Brooklyn Investment Group grew its stake in shares of Pacira BioSciences by 372.2% during the first quarter. Brooklyn Investment Group now owns 2,238 shares of the company's stock valued at $56,000 after buying an additional 1,764 shares during the last quarter. 99.73% of the stock is currently owned by hedge funds and other institutional investors.

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.