Pacira BioSciences (NASDAQ:PCRX) Stock Rating Reaffirmed by Needham & Company LLC

Pacira BioSciences (NASDAQ:PCRX)‘s stock had its “buy” rating reiterated by stock analysts at Needham & Company LLC in a report issued on Tuesday, Benzinga reports. They currently have a $43.00 price target on the stock. Needham & Company LLC’s target price would indicate a potential upside of 98.52% from the stock’s previous close.

A number of other analysts have also issued reports on PCRX. Barclays lowered their target price on Pacira BioSciences from $40.00 to $38.00 and set an “overweight” rating on the stock in a report on Wednesday, May 8th. JPMorgan Chase & Co. initiated coverage on shares of Pacira BioSciences in a research report on Thursday, March 7th. They set an “overweight” rating and a $45.00 target price on the stock. Finally, HC Wainwright reissued a “buy” rating and issued a $57.00 price target on shares of Pacira BioSciences in a report on Wednesday, May 8th. One research analyst has rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $46.10.

Pacira BioSciences Trading Down 4.7 %

Shares of PCRX stock opened at $21.66 on Tuesday. Pacira BioSciences has a 12 month low of $20.52 and a 12 month high of $40.16. The company has a market cap of $1.01 billion, a PE ratio of 15.15 and a beta of 0.88. The company has a quick ratio of 4.78, a current ratio of 5.81 and a debt-to-equity ratio of 0.57. The business’s 50 day moving average is $28.60 and its two-hundred day moving average is $29.73.

Pacira BioSciences (NASDAQ:PCRX) last announced its earnings results on Tuesday, May 7th. The company reported $0.42 EPS for the quarter, missing the consensus estimate of $0.46 by ($0.04). The firm had revenue of $167.12 million during the quarter, compared to the consensus estimate of $165.43 million. Pacira BioSciences had a return on equity of 12.98% and a net margin of 10.34%. Equities analysts predict that Pacira BioSciences will post 2.13 EPS for the current year.

Insider Activity

In other news, SVP Lauren Riker sold 3,970 shares of the company’s stock in a transaction that occurred on Wednesday, June 12th. The stock was sold at an average price of $28.72, for a total value of $114,018.40. Following the sale, the senior vice president now directly owns 38,075 shares in the company, valued at approximately $1,093,514. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, SVP Lauren Riker sold 3,970 shares of the business’s stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $28.72, for a total value of $114,018.40. Following the sale, the senior vice president now owns 38,075 shares in the company, valued at approximately $1,093,514. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Daryl Gaugler sold 1,000 shares of the stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $28.38, for a total transaction of $28,380.00. Following the sale, the chief operating officer now owns 116,040 shares of the company’s stock, valued at approximately $3,293,215.20. The disclosure for this sale can be found here. In the last three months, insiders have sold 21,150 shares of company stock worth $602,170. Corporate insiders own 6.40% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. ICA Group Wealth Management LLC bought a new position in shares of Pacira BioSciences in the fourth quarter worth about $30,000. GAMMA Investing LLC raised its position in Pacira BioSciences by 229.6% in the 2nd quarter. GAMMA Investing LLC now owns 1,338 shares of the company’s stock worth $38,000 after purchasing an additional 932 shares during the last quarter. Park Place Capital Corp acquired a new position in Pacira BioSciences during the 2nd quarter worth $46,000. Quadrant Capital Group LLC boosted its position in Pacira BioSciences by 61.5% in the 4th quarter. Quadrant Capital Group LLC now owns 2,324 shares of the company’s stock valued at $78,000 after buying an additional 885 shares during the last quarter. Finally, Cape Investment Advisory Inc. acquired a new stake in shares of Pacira BioSciences in the 4th quarter valued at $97,000. Institutional investors and hedge funds own 99.73% of the company’s stock.

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.