Pacira BioSciences (NASDAQ:PCRX) Upgraded by Wall Street Zen to Strong-Buy Rating

Key Points

• Wall Street Zen upgraded Pacira BioSciences to “strong-buy” from “buy,” though the broader analyst consensus remains “Hold,” with an average price target of $29.80.
• Pacira reported quarterly EPS of $0.73, exceeding estimates of $0.65, while revenue reached $192.4 million and increased 6.2% year over year.
• PCRX opened at $25.02, with a market capitalization of approximately $997 million; institutional investors own 99.73% of the company’s shares.

Pacira BioSciences (NASDAQ:PCRX - Get Free Report) was upgraded by equities research analysts at Wall Street Zen from a "buy" rating to a "strong-buy" rating in a report issued on Saturday.

Several other brokerages have also recently weighed in on PCRX. Weiss Ratings upgraded Pacira BioSciences from a "sell (d)" rating to a "sell (d+)" rating in a report on Wednesday, May 20th. Royal Bank Of Canada lifted their price target on Pacira BioSciences from $24.00 to $25.00 and gave the stock a "sector perform" rating in a research note on Wednesday. Needham & Company LLC boosted their price objective on Pacira BioSciences from $32.00 to $33.00 and gave the company a "buy" rating in a research report on Wednesday. Finally, HC Wainwright reissued a "buy" rating and set a $38.00 price objective on shares of Pacira BioSciences in a research note on Wednesday, July 1st. Three investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Pacira BioSciences currently has an average rating of "Hold" and an average price target of $29.80.

Pacira BioSciences Stock Performance

Pacira BioSciences stock opened at $25.02 on Friday. The firm has a fifty day simple moving average of $24.69 and a two-hundred day simple moving average of $23.40. The company has a quick ratio of 3.35, a current ratio of 5.04 and a debt-to-equity ratio of 0.54. Pacira BioSciences has a twelve month low of $18.80 and a twelve month high of $27.66. The company has a market capitalization of $997.30 million, a PE ratio of 71.49 and a beta of 0.27.

Pacira BioSciences (NASDAQ:PCRX - Get Free Report) last announced its quarterly earnings data on Tuesday, August 4th. The company reported $0.73 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.65 by $0.08. The firm had revenue of $192.40 million for the quarter, compared to analysts' expectations of $191.06 million. Pacira BioSciences had a return on equity of 9.68% and a net margin of 1.96%.The company's revenue for the quarter was up 6.2% compared to the same quarter last year. During the same period last year, the firm earned $0.74 earnings per share. Research analysts expect that Pacira BioSciences will post 1.94 EPS for the current year.

Insider Activity

In other news, SVP Lauren Riker sold 6,115 shares of the company's stock in a transaction dated 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 approximately $1,463,674. This represents a 8.94% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 6.40% of the company's stock.

Institutional Trading of Pacira BioSciences

Several large investors have recently modified their holdings of PCRX. Northwestern Mutual Wealth Management Co. raised its position in Pacira BioSciences by 5,900.0% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,500 shares of the company's stock valued at $39,000 after purchasing an additional 1,475 shares during the last quarter. Meeder Asset Management Inc. bought a new stake in shares of Pacira BioSciences in the 1st quarter worth approximately $46,000. Kestra Advisory Services LLC bought a new stake in shares of Pacira BioSciences in the 4th quarter worth approximately $48,000. Eurizon Capital SGR S.p.A. purchased a new position in shares of Pacira BioSciences during the fourth quarter valued at approximately $51,000. Finally, Global Retirement Partners LLC purchased a new position in shares of Pacira BioSciences during the second quarter valued at approximately $51,000. 99.73% of the stock is owned by institutional investors.

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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