Pacira BioSciences (NASDAQ:PCRX) Posts Earnings Results, Beats Expectations By $0.08 EPS

Pacira BioSciences (NASDAQ:PCRXGet Free Report) issued its quarterly earnings data on Tuesday. The company reported $0.73 earnings per share (EPS) for the quarter, topping the consensus estimate 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%.

Pacira BioSciences Trading Up 2.6%

PCRX stock traded up $0.70 during mid-day trading on Tuesday, reaching $27.62. 1,110,322 shares of the stock traded hands, compared to its average volume of 687,389. Pacira BioSciences has a 52-week low of $18.80 and a 52-week high of $27.66. The stock’s fifty day moving average is $24.53 and its 200-day moving average is $23.28. The company has a market cap of $1.09 billion, a P/E 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.

Insider Buying and Selling at Pacira BioSciences

In other news, SVP Lauren Riker sold 6,115 shares of the business’s stock in a transaction that occurred 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 sale, the senior vice president owned 62,284 shares in the company, valued at $1,463,674. The trade was a 8.94% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 6.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Pacira BioSciences

Several institutional investors and hedge funds have recently added to or reduced their stakes in PCRX. Northwestern Mutual Wealth Management Co. grew 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 worth $39,000 after purchasing an additional 1,475 shares in the last quarter. Kestra Advisory Services LLC acquired a new stake in shares of Pacira BioSciences in the fourth quarter worth $48,000. Global Retirement Partners LLC boosted its position in shares of Pacira BioSciences by 479.4% in the fourth quarter. Global Retirement Partners LLC now owns 2,028 shares of the company’s stock worth $52,000 after buying an additional 1,678 shares during the period. Strs Ohio acquired a new stake in shares of Pacira BioSciences in the first quarter worth $75,000. Finally, iSAM Funds UK Ltd purchased a new position in shares of Pacira BioSciences during the third quarter valued at $80,000. 99.73% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms recently commented on PCRX. Weiss Ratings upgraded Pacira BioSciences from a “sell (d)” rating to a “sell (d+)” rating in a research report on Wednesday, May 20th. Needham & Company LLC increased their price target on Pacira BioSciences from $30.00 to $32.00 and gave the stock a “buy” rating in a research note on Friday, May 1st. Royal Bank Of Canada raised their price target on Pacira BioSciences from $22.00 to $24.00 and gave the company a “sector perform” rating in a report on Friday, May 1st. Zacks Research upgraded 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 target price on shares of Pacira BioSciences in a report on Wednesday, July 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 stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $29.40.

Check Out Our Latest Stock Report on Pacira BioSciences

Pacira BioSciences Company Profile

(Get Free Report)

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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Earnings History for Pacira BioSciences (NASDAQ:PCRX)

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