Pacira BioSciences (NASDAQ:PCRX) Stock Gets Price Target Boost from Truist Financial

Pacira BioSciences (NASDAQ:PCRX – Get Free Report) had its price objective hoisted by equities research analysts at Truist Financial from $30.00 to $31.00 in a research note issued on Wednesday, Benzinga reports. The firm currently has a “buy” rating on the stock. Truist Financial’s target price would suggest a potential upside of 20.93% from the stock’s previous close.

A number of other brokerages also recently commented on PCRX. Zacks Research downgraded shares of Pacira BioSciences from a “hold” rating to a “strong sell” rating in a research report on Monday. Weiss Ratings downgraded shares of Pacira BioSciences from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Wednesday, September 16th. Royal Bank Of Canada lifted their target price on shares of Pacira BioSciences from $24.00 to $25.00 and gave the company a “sector perform” rating in a research note on Wednesday, August 5th. Wall Street Zen upgraded shares of Pacira BioSciences from a “buy” rating to a “strong-buy” rating in a report on Saturday, September 26th. Finally, Oppenheimer assumed coverage on shares of Pacira BioSciences in a research note on Wednesday, September 23rd. They issued an “outperform” rating and a $32.00 price target on the stock. Four analysts have rated the stock with a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, Pacira BioSciences presently has an average rating of “Hold” and an average target price of $30.29.

View Our Latest Stock Report on PCRX

Pacira BioSciences Stock Up 3.5%

NASDAQ PCRX traded up $0.87 during trading on Wednesday, reaching $25.63. 248,669 shares of the company’s stock were exchanged, compared to its average volume of 662,783. Pacira BioSciences has a fifty-two week low of $18.80 and a fifty-two week high of $27.66. The firm has a market capitalization of $1.02 billion, a PE ratio of 73.14 and a beta of 0.25. The company has a current ratio of 5.04, a quick ratio of 3.94 and a debt-to-equity ratio of 0.54. The company’s fifty day simple moving average is $25.20 and its 200-day simple moving average is $24.39.

Pacira BioSciences (NASDAQ:PCRX – Get Free Report) last released its earnings results on Tuesday, August 4th. The company reported $0.73 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.08. The company 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 business’s revenue for the quarter was up 6.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.74 EPS. Sell-side analysts predict that Pacira BioSciences will post 1.91 EPS for the current year.

Insider Activity at Pacira BioSciences

In related news, insider Jonathan Slonin sold 3,040 shares of the stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $23.23, for a total value of $70,619.20. Following the transaction, the insider owned 216,384 shares in the company, valued at approximately $5,026,600.32. This represents a 1.39% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 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 added to or reduced their stakes in PCRX. Integrated Wealth Concepts LLC boosted its holdings in Pacira BioSciences by 8.6% in the second quarter. Integrated Wealth Concepts LLC now owns 43,764 shares of the company’s stock worth $1,110,000 after purchasing an additional 3,482 shares in the last quarter. Baird Financial Group Inc. bought a new position in Pacira BioSciences during the second quarter valued at about $213,000. Amundi lifted its position in shares of Pacira BioSciences by 16.2% in the second quarter. Amundi now owns 15,894 shares of the company’s stock worth $403,000 after buying an additional 2,210 shares during the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in shares of Pacira BioSciences in the second quarter worth about $851,000. Finally, Three Seasons Wealth LLC boosted its stake in shares of Pacira BioSciences by 43.6% during the 2nd quarter. Three Seasons Wealth LLC now owns 62,942 shares of the company’s stock worth $1,597,000 after acquiring an additional 19,107 shares in the last quarter. 99.73% of the stock is owned by institutional investors.

Pacira BioSciences News Roundup

Here are the key news stories impacting Pacira BioSciences this week:

  • Positive Sentiment: European expansion through Molteni: Pacira granted Molteni Farmaceutici exclusive rights to commercialize EXPAREL in the European Union and the United Kingdom. The agreement expands the product’s international reach and could create an additional long-term revenue channel, although financial terms were not disclosed. Pacira Announces Exclusive Agreement with Molteni Farmaceutici to Commercialize EXPAREL in the European Union and United Kingdom
  • Positive Sentiment: Analyst target remains above the market price: A report cited a consensus target price of $30.14, implying potential upside from the stock’s current level. Target prices are estimates and may change as analysts reassess the company. Pacira BioSciences Consensus Target Price
  • Neutral Sentiment: Caregiver survey highlights demand for pain-management education: Pacira and Caregiver Action Network reported that families want earlier education, clearer pain-management plans and more information about non-opioid options before surgery. The findings support Pacira’s non-opioid pain-treatment positioning but do not represent a new financial forecast or product approval. Pacira and Caregiver Action Network Survey
  • Negative Sentiment: Zacks downgraded PCRX from “Hold” to “Strong Sell.” The downgrade is likely weighing on sentiment and may offset optimism surrounding the Molteni partnership, particularly because Pacira’s valuation remains elevated relative to its modest net margin. Zacks Research Downgrades Pacira BioSciences to Strong Sell

About Pacira BioSciences

(Get Free Report)

Pacira BioSciences, Inc is a specialty pharmaceutical company focused on developing and commercializing non-opioid pain-management products. The company’s portfolio is designed to help manage acute and chronic pain while reducing reliance on traditional opioid therapies.

Its principal product is EXPAREL, an extended-release formulation of bupivacaine used to provide postsurgical pain relief. Pacira also markets ZILRETTA, an extended-release corticosteroid injection for osteoarthritis-related knee pain, and the iovera° system, a handheld cryoanalgesia device intended to temporarily block peripheral nerves and provide targeted pain relief.

Originally known as Pacira Pharmaceuticals, the company adopted the name Pacira BioSciences in 2018 to reflect its broader focus on innovative therapies and technologies.

See Also

Analyst Recommendations for Pacira BioSciences (NASDAQ:PCRX)

Receive News & Ratings for Pacira BioSciences Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pacira BioSciences and related companies with MarketBeat.com's FREE daily email newsletter.