Pacira BioSciences (NASDAQ:PCRX) Receives “Overweight” Rating from Piper Sandler

Pacira BioSciences (NASDAQ:PCRX)‘s stock had its “overweight” rating reiterated by stock analysts at Piper Sandler in a note issued to investors on Wednesday, Benzinga reports. They presently have a $42.00 price target on the stock. Piper Sandler’s target price would suggest a potential upside of 93.91% from the stock’s current price.

PCRX has been the subject of a number of other reports. Barclays downgraded Pacira BioSciences from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $38.00 to $25.00 in a report on Wednesday. Needham & Company LLC reaffirmed a “buy” rating and set a $43.00 price target on shares of Pacira BioSciences in a 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 target price on the stock. Finally, HC Wainwright reiterated a “buy” rating and set a $57.00 target price on shares of Pacira BioSciences in a research report on Tuesday. One analyst has rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $46.10.

Pacira BioSciences Stock Down 4.7 %

Shares of NASDAQ PCRX opened at $21.66 on Wednesday. The company has a market capitalization of $1.01 billion, a price-to-earnings ratio of 15.15 and a beta of 0.88. The company has a debt-to-equity ratio of 0.57, a current ratio of 5.81 and a quick ratio of 4.78. The business has a 50-day moving average of $28.53 and a two-hundred day moving average of $29.67. Pacira BioSciences has a 1 year low of $20.52 and a 1 year high of $40.16.

Pacira BioSciences (NASDAQ:PCRX) last announced its quarterly 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). The business had revenue of $167.12 million for the quarter, compared to analysts’ expectations of $165.43 million. Pacira BioSciences had a return on equity of 12.98% and a net margin of 10.34%. On average, analysts forecast that Pacira BioSciences will post 2.13 earnings per share for the current fiscal year.

Insider Transactions at Pacira BioSciences

In related news, insider Jonathan Slonin sold 2,836 shares of the business’s stock in a transaction dated Tuesday, July 2nd. The stock was sold at an average price of $28.25, for a total value of $80,117.00. Following the transaction, the insider now owns 95,557 shares in the company, valued at approximately $2,699,485.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider Kristen Williams sold 7,452 shares of the business’s stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $28.38, for a total value of $211,487.76. Following the transaction, the insider now owns 102,912 shares in the company, valued at approximately $2,920,642.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jonathan Slonin sold 2,836 shares of the business’s stock in a transaction dated Tuesday, July 2nd. The shares were 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 owns 95,557 shares in the company, valued at approximately $2,699,485.25. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 21,150 shares of company stock worth $602,170. Corporate insiders own 6.40% of the company’s stock.

Hedge Funds Weigh In On Pacira BioSciences

Several institutional investors have recently added to or reduced their stakes in the stock. Hsbc Holdings PLC boosted its holdings in Pacira BioSciences by 40.5% in the 3rd quarter. Hsbc Holdings PLC now owns 9,866 shares of the company’s stock valued at $303,000 after purchasing an additional 2,846 shares in the last quarter. Trexquant Investment LP purchased a new stake in Pacira BioSciences in the 3rd quarter valued at approximately $486,000. Gotham Asset Management LLC boosted its holdings in Pacira BioSciences by 16.8% in the 3rd quarter. Gotham Asset Management LLC now owns 22,317 shares of the company’s stock valued at $685,000 after purchasing an additional 3,203 shares in the last quarter. Rubric Capital Management LP purchased a new stake in Pacira BioSciences in the 3rd quarter valued at approximately $14,102,000. Finally, Graham Capital Management L.P. purchased a new stake in Pacira BioSciences in the 3rd quarter valued at approximately $247,000. 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.