Brokerages Set Pacira BioSciences, Inc. (NASDAQ:PCRX) Price Target at $30.25

Shares of Pacira BioSciences, Inc. (NASDAQ:PCRX) have been assigned an average recommendation of “Hold” from the six brokerages that are covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $30.25.

Several research firms have recently commented on PCRX. Weiss Ratings reiterated a “sell (d+)” rating on shares of Pacira BioSciences in a research report on Monday, December 29th. Barclays lowered their price target on shares of Pacira BioSciences from $27.00 to $25.00 and set an “equal weight” rating on the stock in a research report on Thursday, March 26th. Needham & Company LLC reissued a “buy” rating and set a $30.00 price objective on shares of Pacira BioSciences in a research note on Friday, January 9th. Zacks Research raised shares of Pacira BioSciences from a “strong sell” rating to a “hold” rating in a research note on Tuesday, April 7th. Finally, HC Wainwright reissued a “buy” rating and set a $38.00 price objective on shares of Pacira BioSciences in a research note on Friday, January 9th.

Pacira BioSciences Stock Up 3.6%

PCRX stock opened at $24.72 on Tuesday. The company’s 50 day simple moving average is $22.75 and its 200-day simple moving average is $23.06. The firm has a market capitalization of $1.00 billion, a PE ratio of 164.80 and a beta of 0.19. Pacira BioSciences has a 12 month low of $18.80 and a 12 month high of $27.64. The company has a debt-to-equity ratio of 0.54, a current ratio of 4.54 and a quick ratio of 3.28.

Pacira BioSciences (NASDAQ:PCRX) last released its quarterly earnings results on Thursday, February 26th. The company reported $0.57 EPS for the quarter, missing the consensus estimate of $0.85 by ($0.28). The business had revenue of $196.87 million during the quarter, compared to analyst estimates of $201.93 million. Pacira BioSciences had a net margin of 0.97% and a return on equity of 10.39%. The firm’s revenue for the quarter was up 5.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.91 earnings per share. Equities analysts expect that Pacira BioSciences will post 2.41 earnings per share for the current fiscal year.

Insider Activity at Pacira BioSciences

In related news, insider Jonathan Slonin sold 3,261 shares of the company’s stock in a transaction that occurred on Tuesday, March 17th. The shares were sold at an average price of $22.82, for a total transaction of $74,416.02. Following the transaction, the insider owned 223,640 shares of the company’s stock, valued at approximately $5,103,464.80. This represents a 1.44% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 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 transaction of $83,240.00. Following the transaction, the senior vice president directly owned 52,313 shares in the company, valued at $1,088,633.53. The trade was a 7.10% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 6.40% of the company’s stock.

Hedge Funds Weigh In On Pacira BioSciences

Institutional investors and hedge funds have recently modified their holdings of the company. Hantz Financial Services Inc. raised its stake in Pacira BioSciences by 175.4% during the third quarter. Hantz Financial Services Inc. now owns 1,132 shares of the company’s stock worth $29,000 after purchasing an additional 721 shares during the period. Northwestern Mutual Wealth Management Co. raised its stake in 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 worth $39,000 after purchasing an additional 1,475 shares during the period. Kestra Advisory Services LLC purchased a new position in Pacira BioSciences during the fourth quarter worth approximately $48,000. Eurizon Capital SGR S.p.A. purchased a new position in Pacira BioSciences during the fourth quarter worth approximately $51,000. Finally, Global Retirement Partners LLC raised its stake in Pacira BioSciences by 479.4% during the fourth quarter. Global Retirement Partners LLC now owns 2,028 shares of the company’s stock worth $52,000 after purchasing an additional 1,678 shares during the period. Hedge funds and other institutional investors own 99.73% of the company’s stock.

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.