Wall Street Zen cut shares of Pacira BioSciences (NASDAQ:PCRX – Free Report) from a strong-buy rating to a buy rating in a research note issued to investors on Sunday.
PCRX has been the subject of a number of other research reports. Royal Bank Of Canada increased their price objective on Pacira BioSciences from $24.00 to $25.00 and gave the company a “sector perform” rating in a research note on Wednesday, August 5th. Weiss Ratings raised shares of Pacira BioSciences from a “sell (d)” rating to a “sell (d+)” rating in a research note on Wednesday, May 20th. Needham & Company LLC increased their price target on shares of Pacira BioSciences from $32.00 to $33.00 and gave the company a “buy” rating in a research report on Wednesday, August 5th. Finally, HC Wainwright reissued a “buy” rating and set a $38.00 price target on shares of Pacira BioSciences in a research report on Wednesday, July 1st. Three investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $30.20.
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Pacira BioSciences Price Performance
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. Pacira BioSciences had a return on equity of 9.68% and a net margin of 1.96%.The firm had revenue of $192.40 million for the quarter, compared to analysts’ expectations of $191.06 million. During the same period last year, the firm earned $0.74 earnings per share. The company’s revenue for the quarter was up 6.2% compared to the same quarter last year. Research analysts anticipate that Pacira BioSciences will post 1.98 earnings per share for the current year.
Insiders Place Their Bets
In other Pacira BioSciences news, insider Jonathan Slonin sold 3,040 shares of the company’s stock in a transaction on Monday, August 17th. The shares were sold at an average price of $23.23, for a total value of $70,619.20. Following the completion of the transaction, the insider directly owned 216,384 shares in the company, valued at approximately $5,026,600.32. This represents a 1.39% decrease in their position. The sale was disclosed in a document filed 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. Also, SVP Lauren Riker sold 6,115 shares of the firm’s stock in a transaction dated Thursday, June 11th. The stock was sold at an average price of $23.50, for a total transaction of $143,702.50. Following the completion of the sale, 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. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 6.40% of the stock is currently owned by insiders.
Institutional Trading of Pacira BioSciences
Institutional investors and hedge funds have recently bought and sold shares of the stock. Empowered Funds LLC bought a new stake in Pacira BioSciences during the 2nd quarter valued at approximately $5,076,000. Caitlin John LLC bought a new position in shares of Pacira BioSciences in the 2nd quarter worth approximately $120,000. Public Employees Retirement System of Ohio purchased a new position in shares of Pacira BioSciences in the 2nd quarter valued at approximately $1,050,000. Bank of America Corp DE purchased a new position in shares of Pacira BioSciences in the 2nd quarter valued at approximately $6,089,000. Finally, Man Group plc bought a new stake in shares of Pacira BioSciences during the second quarter valued at approximately $3,181,000. 99.73% of the stock is currently owned by hedge funds and other 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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