Pacira BioSciences (NASDAQ:PCRX) Releases Quarterly Earnings Results, Beats Estimates By $0.08 EPS

Key Points

• Pacira BioSciences beat quarterly earnings expectations, reporting EPS of $0.73 versus the analyst consensus of $0.65.
• The stock rose 2.6% to $27.62 following the results, near its 12-month high of $27.66. Pacira has a market capitalization of approximately $1.09 billion.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and an average price target of $29.40; ratings include three Buys, three Holds, and one Sell.

Pacira BioSciences (NASDAQ:PCRX - Get Free Report) issued its earnings results on Tuesday. The company reported $0.73 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.65 by $0.08, FiscalAI reports. Pacira BioSciences had a return on equity of 10.24% and a net margin of 0.70%.

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Pacira BioSciences Stock Up 2.6%

PCRX stock traded up $0.70 during midday trading on Tuesday, hitting $27.62. 1,110,322 shares of the company's stock were exchanged, compared to its average volume of 687,389. The firm has a 50 day moving average price of $24.53 and a 200-day moving average price of $23.28. Pacira BioSciences has a 12-month low of $18.80 and a 12-month high of $27.66. The stock has a market capitalization of $1.09 billion, a price-to-earnings ratio of 230.19 and a beta of 0.27. The company has a current ratio of 4.73, a quick ratio of 3.35 and a debt-to-equity ratio of 0.56.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on PCRX. Zacks Research raised shares of Pacira BioSciences from a "strong sell" rating to a "hold" rating in a research report on Tuesday, April 7th. HC Wainwright reissued a "buy" rating and issued a $38.00 price objective on shares of Pacira BioSciences in a research report on Wednesday, July 1st. Weiss Ratings upgraded Pacira BioSciences from a "sell (d)" rating to a "sell (d+)" rating in a research note on Wednesday, May 20th. 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 research report on Friday, May 1st. Finally, Royal Bank Of Canada upped their price target on Pacira BioSciences from $22.00 to $24.00 and gave the stock a "sector perform" rating in a report on Friday, May 1st. Three analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $29.40.

Insider Activity at Pacira BioSciences

In other Pacira BioSciences news, SVP Lauren Riker sold 6,115 shares of the firm's stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $23.50, for a total transaction 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 $1,463,674. This trade represents a 8.94% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 6.40% of the company's stock.

Institutional Trading of Pacira BioSciences

Several hedge funds have recently made changes to their positions in the stock. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Pacira BioSciences by 5,900.0% during 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 period. Kestra Advisory Services LLC acquired a new stake in shares of Pacira BioSciences in the 4th quarter worth about $48,000. Global Retirement Partners LLC increased its holdings in shares of Pacira BioSciences by 479.4% in the 4th quarter. Global Retirement Partners LLC now owns 2,028 shares of the company's stock worth $52,000 after acquiring an additional 1,678 shares during the period. Strs Ohio bought a new stake in Pacira BioSciences in the 1st quarter valued at about $75,000. Finally, iSAM Funds UK Ltd bought a new stake in Pacira BioSciences in the 3rd quarter valued at about $80,000. Institutional investors own 99.73% of the company's stock.

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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