Pacira BioSciences (NASDAQ:PCRX) Given Buy Rating at HC Wainwright

Pacira BioSciences (NASDAQ:PCRX)‘s stock had its “buy” rating reaffirmed by HC Wainwright in a report released on Tuesday, Benzinga reports. They presently have a $57.00 target price on the stock. HC Wainwright’s target price points to a potential upside of 163.16% from the stock’s current price.

A number of other analysts also recently issued reports on the company. Barclays decreased their target price on Pacira BioSciences from $40.00 to $38.00 and set an “overweight” rating for the company in a research report on Wednesday, May 8th. Needham & Company LLC reissued a “buy” rating and issued a $43.00 target price on shares of Pacira BioSciences in a research report on Tuesday. Finally, JPMorgan Chase & Co. began coverage on Pacira BioSciences in a research report on Thursday, March 7th. They issued an “overweight” rating and a $45.00 target price for the company. One research analyst has rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $46.10.

Pacira BioSciences Stock Performance

Shares of PCRX opened at $21.66 on Tuesday. The company has a current ratio of 5.81, a quick ratio of 4.78 and a debt-to-equity ratio of 0.57. The stock has a 50 day moving average of $28.60 and a 200 day moving average of $29.73. Pacira BioSciences has a 12 month low of $20.52 and a 12 month high of $40.16. The company has a market capitalization of $1.01 billion, a price-to-earnings ratio of 15.15 and a beta of 0.88.

Pacira BioSciences (NASDAQ:PCRX) last released its earnings results on Tuesday, May 7th. The company reported $0.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.04). Pacira BioSciences had a return on equity of 12.98% and a net margin of 10.34%. The firm had revenue of $167.12 million during the quarter, compared to analysts’ expectations of $165.43 million. As a group, sell-side analysts forecast that Pacira BioSciences will post 2.13 earnings per share for the current year.

Insider Transactions at Pacira BioSciences

In other news, insider Jonathan Slonin sold 2,836 shares of the firm’s stock in a transaction on Tuesday, July 2nd. The stock was sold at an average price of $28.25, for a total value of $80,117.00. Following the completion of the transaction, the insider now directly owns 95,557 shares of the company’s stock, valued at $2,699,485.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Kristen Williams sold 7,452 shares of Pacira BioSciences stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $28.38, for a total transaction of $211,487.76. Following the completion of the sale, the insider now owns 102,912 shares of the company’s stock, valued at $2,920,642.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Jonathan Slonin sold 2,836 shares of Pacira BioSciences stock in a transaction on Tuesday, July 2nd. The shares were sold at an average price of $28.25, for a total value of $80,117.00. Following the sale, the insider now directly owns 95,557 shares of the company’s stock, valued at approximately $2,699,485.25. The disclosure for this sale can be found here. Insiders sold 21,150 shares of company stock valued at $602,170 over the last three months. Company insiders own 6.40% of the company’s stock.

Institutional Investors Weigh In On Pacira BioSciences

Several large investors have recently added to or reduced their stakes in PCRX. Vestal Point Capital LP bought a new stake in Pacira BioSciences during the fourth quarter worth about $40,488,000. Pacer Advisors Inc. lifted its stake in Pacira BioSciences by 397,487.4% during the fourth quarter. Pacer Advisors Inc. now owns 1,041,679 shares of the company’s stock worth $35,146,000 after purchasing an additional 1,041,417 shares during the last quarter. Archon Capital Management LLC bought a new stake in Pacira BioSciences during the first quarter worth about $15,677,000. Rubric Capital Management LP bought a new stake in Pacira BioSciences during the third quarter worth about $14,102,000. Finally, Frontier Capital Management Co. LLC lifted its stake in Pacira BioSciences by 15.8% during the fourth quarter. Frontier Capital Management Co. LLC now owns 2,084,542 shares of the company’s stock worth $70,332,000 after purchasing an additional 285,045 shares during the last quarter. Institutional investors own 99.73% of the company’s stock.

Pacira BioSciences Company Profile

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.