Pacira BioSciences (NASDAQ:PCRX – Get Free Report) was upgraded by stock analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a report issued on Tuesday, Zacks reports.
PCRX has been the subject of several other research reports. HC Wainwright lowered shares of Pacira BioSciences from a “buy” rating to a “hold” rating and lowered their target price for the stock from $38.00 to $36.50 in a report on Friday, October 9th. JPMorgan Chase & Co. upgraded shares of Pacira BioSciences from an “underweight” rating to a “neutral” rating and set a $36.50 price target on the stock in a report on Thursday, October 8th. Wall Street Zen upgraded shares of Pacira BioSciences from a “buy” rating to a “strong-buy” rating in a report on Saturday, September 26th. Oppenheimer initiated coverage on shares of Pacira BioSciences in a research report on Wednesday, September 23rd. They issued an “outperform” rating and a $32.00 price objective on the stock. Finally, Truist Financial lowered shares of Pacira BioSciences from a “buy” rating to a “hold” rating and increased their price objective for the stock from $31.00 to $36.50 in a research report on Friday, October 9th. One research analyst has rated the stock with a Buy rating and ten have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $33.33.
Check Out Our Latest Stock Analysis on Pacira BioSciences
Pacira BioSciences Stock Performance
NASDAQ:PCRX opened at $36.40 on Tuesday. The stock’s fifty day moving average is $29.75 and its 200 day moving average is $25.04. Pacira BioSciences has a fifty-two week low of $18.80 and a fifty-two week high of $36.67. The firm has a market capitalization of $1.45 billion, a PE ratio of 104.00 and a beta of 0.21. The company has a debt-to-equity ratio of 0.54, a quick ratio of 3.94 and a current ratio of 5.04.
Pacira BioSciences (NASDAQ:PCRX – Get Free Report) last issued its quarterly earnings results on Tuesday, August 4th. The company reported $0.73 earnings per share (EPS) for the quarter, topping 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 company had revenue of $192.40 million during the quarter, compared to the consensus estimate of $191.06 million. During the same period last year, the company earned $0.74 earnings per share. Pacira BioSciences’s revenue was up 6.2% on a year-over-year basis. On average, sell-side analysts anticipate that Pacira BioSciences will post 1.86 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 stock in a transaction 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 sale, the insider owned 216,384 shares in the company, valued at $5,026,600.32. This trade represents a 1.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Lauren Riker sold 6,000 shares of Pacira BioSciences stock in a transaction on Thursday, October 8th. The stock was sold at an average price of $36.32, for a total value of $217,920.00. Following the sale, the senior vice president owned 62,284 shares of the company’s stock, valued at approximately $2,262,154.88. This trade represents a 8.79% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 6.40% of the company’s stock.
Institutional Inflows and Outflows
Institutional investors have recently added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC boosted its holdings in shares of Pacira BioSciences by 5.6% in the third quarter. Allspring Global Investments Holdings LLC now owns 12,771 shares of the company’s stock valued at $319,000 after purchasing an additional 681 shares during the period. Bridge City Capital LLC grew its stake in Pacira BioSciences by 12.9% in the third quarter. Bridge City Capital LLC now owns 352,738 shares of the company’s stock worth $8,836,000 after purchasing an additional 40,441 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new position in Pacira BioSciences during the 3rd quarter worth $51,000. Profund Advisors LLC increased its holdings in Pacira BioSciences by 324.7% during the 3rd quarter. Profund Advisors LLC now owns 55,354 shares of the company’s stock worth $1,387,000 after purchasing an additional 42,319 shares during the period. Finally, State of Wyoming raised its position in Pacira BioSciences by 259.3% during the 3rd quarter. State of Wyoming now owns 11,117 shares of the company’s stock valued at $278,000 after purchasing an additional 8,023 shares in the last quarter. Hedge funds and other institutional investors own 99.73% of the company’s stock.
Pacira BioSciences Company Profile
Pacira BioSciences, Inc is a specialty pharmaceutical company focused on developing and commercializing non-opioid pain-management and regenerative health solutions. The company’s products are designed to address acute postsurgical pain and osteoarthritis-related pain while supporting efforts to reduce reliance on opioid medications.
Pacira’s lead product is EXPAREL, an extended-release formulation of bupivacaine administered by injection for postsurgical pain management. The company also markets ZILRETTA, an extended-release corticosteroid injection indicated for osteoarthritis knee pain, and iovera°, a cryoanalgesia system that uses controlled cooling to temporarily block peripheral nerves and relieve pain.
Formerly known as Pacira Pharmaceuticals, the company adopted the Pacira BioSciences name to reflect its broader focus on innovative pain and regenerative-health therapies.
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