Pacira BioSciences (NASDAQ:PCRX) Price Target Cut to $25.00 by Analysts at Barclays

Key Points

• Barclays cut its price target for Pacira from $27 to $25 and maintained an "equal weight" rating, implying roughly a 6.7% upside from the prior close.
• Pacira missed the quarter with $0.57 EPS vs. $0.85 expected and $196.9M revenue vs. $201.9M, and the stock trades around $23.43 with a market cap near $949M.
• Analysts are mixed—MarketBeat shows a consensus rating of "Hold" (3 Buys, 1 Hold, 2 Sells) and an average price target of about $30.25, signaling divergent views above Barclays' target.

Pacira BioSciences (NASDAQ:PCRX - Get Free Report) had its price target lowered by investment analysts at Barclays from $27.00 to $25.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage presently has an "equal weight" rating on the stock. Barclays's price objective points to a potential upside of 6.70% from the company's previous close.

A number of other equities analysts have also recently weighed in on the stock. Zacks Research cut shares of Pacira BioSciences from a "hold" rating to a "strong sell" rating in a research report on Monday, March 9th. Wall Street Zen lowered Pacira BioSciences from a "strong-buy" rating to a "buy" rating in a research report on Saturday, February 28th. Weiss Ratings reiterated a "sell (d+)" rating on shares of Pacira BioSciences in a research note on Monday, December 29th. HC Wainwright reissued a "buy" rating and issued a $38.00 price target on shares of Pacira BioSciences in a report on Friday, January 9th. Finally, Needham & Company LLC restated a "buy" rating and set a $30.00 price objective on shares of Pacira BioSciences in a report on Friday, January 9th. Three equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $30.25.

Pacira BioSciences Stock Down 0.3%

Shares of NASDAQ:PCRX opened at $23.43 on Thursday. The company has a market capitalization of $948.68 million, a price-to-earnings ratio of 158.26 and a beta of 0.21. The company has a 50 day moving average of $21.75 and a two-hundred day moving average of $23.42. Pacira BioSciences has a 52-week low of $18.80 and a 52-week high of $27.64. The company has a quick ratio of 3.28, a current ratio of 4.54 and a debt-to-equity ratio of 0.54.

Pacira BioSciences (NASDAQ:PCRX - Get Free Report) last posted its earnings results on Thursday, February 26th. The company reported $0.57 EPS for the quarter, missing analysts' consensus estimates of $0.85 by ($0.28). The firm had revenue of $196.87 million for the quarter, compared to analyst estimates of $201.93 million. Pacira BioSciences had a return on equity of 10.39% and a net margin of 0.97%.The company's revenue for the quarter was up 5.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.91 earnings per share. As a group, analysts forecast that Pacira BioSciences will post 2.41 earnings per share for the current fiscal year.

Insider Activity at Pacira BioSciences

In other news, insider Jonathan Slonin sold 3,261 shares of the business's stock in a transaction that occurred on Tuesday, March 17th. The stock was sold at an average price of $22.82, for a total value of $74,416.02. Following the completion of the sale, the insider directly owned 223,640 shares in the company, valued at approximately $5,103,464.80. The trade was a 1.44% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Lauren Riker sold 4,000 shares of the company's stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $20.81, for a total value of $83,240.00. Following the sale, the senior vice president directly owned 52,313 shares in the company, valued at approximately $1,088,633.53. This represents a 7.10% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 8,677 shares of company stock valued at $191,980. Insiders own 6.40% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of PCRX. PNC Financial Services Group Inc. grew its position in shares of Pacira BioSciences by 17.8% during the 2nd quarter. PNC Financial Services Group Inc. now owns 3,511 shares of the company's stock valued at $84,000 after buying an additional 531 shares during the last quarter. Inspire Investing LLC boosted its stake in Pacira BioSciences by 3.2% in the fourth quarter. Inspire Investing LLC now owns 17,958 shares of the company's stock valued at $465,000 after acquiring an additional 556 shares during the period. Hantz Financial Services Inc. grew its holdings in shares of Pacira BioSciences by 175.4% during the third quarter. Hantz Financial Services Inc. now owns 1,132 shares of the company's stock valued at $29,000 after purchasing an additional 721 shares during the last quarter. State of Wyoming grew its holdings in shares of Pacira BioSciences by 7.0% during the fourth quarter. State of Wyoming now owns 11,155 shares of the company's stock valued at $289,000 after purchasing an additional 728 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC raised its position in shares of Pacira BioSciences by 8.0% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 10,604 shares of the company's stock worth $259,000 after purchasing an additional 785 shares during the period. 99.73% of the stock is currently owned by institutional investors.

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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