Pacira BioSciences, Inc. (NASDAQ:PCRX) Receives Average Recommendation of “Buy” from Brokerages

Pacira BioSciences, Inc. (NASDAQ:PCRX) has been assigned an average recommendation of “Buy” from the ten research firms that are currently covering the stock, Marketbeat Ratings reports. Ten research analysts have rated the stock with a buy recommendation. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $47.40.

A number of brokerages recently weighed in on PCRX. Barclays dropped their price objective on Pacira BioSciences from $40.00 to $38.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 8th. HC Wainwright reaffirmed a “buy” rating and set a $57.00 price objective on shares of Pacira BioSciences in a research report on Tuesday. JPMorgan Chase & Co. began coverage on Pacira BioSciences in a research report on Thursday, March 7th. They set an “overweight” rating and a $45.00 price objective on the stock. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $43.00 price objective on shares of Pacira BioSciences in a research report on Tuesday.

Pacira BioSciences Price Performance

PCRX opened at $22.74 on Wednesday. Pacira BioSciences has a 12-month low of $20.52 and a 12-month high of $40.45. The business’s fifty day simple moving average is $28.69 and its 200-day simple moving average is $29.78. The company has a market capitalization of $1.06 billion, a price-to-earnings ratio of 15.90 and a beta of 0.88. The company has a current ratio of 5.81, a quick ratio of 4.78 and a debt-to-equity ratio of 0.57.

Pacira BioSciences (NASDAQ:PCRX) last issued its quarterly earnings data on Tuesday, May 7th. The company reported $0.42 earnings per share for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.04). Pacira BioSciences had a net margin of 10.34% and a return on equity of 12.98%. The company had revenue of $167.12 million for the quarter, compared to the consensus estimate of $165.43 million. On average, equities research analysts anticipate that Pacira BioSciences will post 2.13 earnings per share for the current fiscal year.

Insider Buying and Selling at Pacira BioSciences

In other news, SVP Lauren Riker sold 3,970 shares of the firm’s stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $28.72, for a total value of $114,018.40. Following the completion of the transaction, the senior vice president now directly owns 38,075 shares in the company, valued at $1,093,514. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, insider Jonathan Slonin sold 5,012 shares of the firm’s stock in a transaction dated Tuesday, June 11th. The stock was sold at an average price of $28.57, for a total value of $143,192.84. Following the completion of the transaction, the insider now directly owns 44,569 shares in the company, valued at $1,273,336.33. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Lauren Riker sold 3,970 shares of the firm’s stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $28.72, for a total value of $114,018.40. Following the completion of the transaction, the senior vice president now owns 38,075 shares of the company’s stock, valued at $1,093,514. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 18,314 shares of company stock worth $522,053. 6.40% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Texas Permanent School Fund Corp raised its position in Pacira BioSciences by 1.4% during the first quarter. Texas Permanent School Fund Corp now owns 40,642 shares of the company’s stock valued at $1,188,000 after acquiring an additional 543 shares in the last quarter. Illinois Municipal Retirement Fund raised its position in Pacira BioSciences by 2.2% during the fourth quarter. Illinois Municipal Retirement Fund now owns 26,964 shares of the company’s stock valued at $910,000 after acquiring an additional 591 shares in the last quarter. Duality Advisers LP raised its position in Pacira BioSciences by 1.8% during the first quarter. Duality Advisers LP now owns 34,784 shares of the company’s stock valued at $1,016,000 after acquiring an additional 605 shares in the last quarter. Inspire Investing LLC raised its position in Pacira BioSciences by 5.9% during the first quarter. Inspire Investing LLC now owns 12,131 shares of the company’s stock valued at $354,000 after acquiring an additional 675 shares in the last quarter. Finally, Quadrant Capital Group LLC raised its position in Pacira BioSciences by 61.5% during the fourth quarter. Quadrant Capital Group LLC now owns 2,324 shares of the company’s stock valued at $78,000 after acquiring an additional 885 shares in the last quarter. 99.73% of the stock is currently owned by hedge funds and other institutional investors.

About Pacira BioSciences

Pacira BioSciences, Inc engages in the development, manufacture, marketing, distribution, and sale of non-opioid pain management and regenerative health solutions to healthcare practitioners in the United States. The company offers EXPAREL, a bupivacaine liposome injectable suspension; ZILRETTA, a triamcinolone acetonide extended-release injectable suspension; and iovera system, a non-opioid handheld cryoanalgesia device used to produce controlled doses of cold temperature to targeted nerves.