Pacira BioSciences, Inc. (NASDAQ:PCRX) Given Average Rating of “Hold” by Analysts

Pacira BioSciences, Inc. (NASDAQ:PCRX) has been assigned a consensus rating of “Hold” from the ten brokerages that are presently covering the firm, Marketbeat reports. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the company. The average 1-year price target among analysts that have covered the stock in the last year is $24.20.

PCRX has been the subject of a number of analyst reports. StockNews.com downgraded Pacira BioSciences from a “strong-buy” rating to a “buy” rating in a research note on Monday, August 12th. Piper Sandler lowered Pacira BioSciences from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $42.00 to $11.00 in a research report on Monday, August 12th. Barclays downgraded shares of Pacira BioSciences from an “overweight” rating to an “equal weight” rating and cut their price objective for the stock from $38.00 to $25.00 in a report on Wednesday, July 3rd. Truist Financial downgraded shares of Pacira BioSciences from a “buy” rating to a “sell” rating and lowered their target price for the company from $30.00 to $8.00 in a report on Tuesday, August 13th. Finally, Royal Bank of Canada upped their price objective on shares of Pacira BioSciences from $14.00 to $15.00 and gave the stock a “sector perform” rating in a research report on Friday, October 4th.

Pacira BioSciences Stock Down 0.4 %

Shares of NASDAQ:PCRX opened at $15.51 on Friday. The company has a debt-to-equity ratio of 0.67, a quick ratio of 5.70 and a current ratio of 6.82. Pacira BioSciences has a 52-week low of $11.16 and a 52-week high of $35.95. The business’s 50 day simple moving average is $15.03 and its two-hundred day simple moving average is $22.59. The firm has a market cap of $721.93 million, a P/E ratio of 10.85 and a beta of 0.84.

Pacira BioSciences (NASDAQ:PCRX) last issued its earnings results on Tuesday, July 30th. The company reported $0.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.53 by $0.11. Pacira BioSciences had a return on equity of 13.22% and a net margin of 9.21%. The company had revenue of $178.02 million for the quarter, compared to analysts’ expectations of $173.31 million. As a group, research analysts forecast that Pacira BioSciences will post 2.24 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Frank D. Lee purchased 8,264 shares of Pacira BioSciences stock in a transaction dated Monday, August 12th. The stock was bought at an average cost of $12.10 per share, for a total transaction of $99,994.40. Following the completion of the transaction, the chief executive officer now owns 107,784 shares in the company, valued at $1,304,186.40. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders have purchased a total of 11,176 shares of company stock worth $136,240 over the last 90 days. Corporate insiders own 6.40% of the company’s stock.

Hedge Funds Weigh In On Pacira BioSciences

Hedge funds have recently bought and sold shares of the company. GAMMA Investing LLC lifted its stake 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 in the last quarter. Park Place Capital Corp bought a new stake in Pacira BioSciences during the second quarter valued at $46,000. Innealta Capital LLC purchased a new position in Pacira BioSciences during the second quarter worth about $50,000. nVerses Capital LLC increased its stake in Pacira BioSciences by 800.0% in the 2nd quarter. nVerses Capital LLC now owns 1,800 shares of the company’s stock worth $51,000 after acquiring an additional 1,600 shares during the last quarter. Finally, Natixis purchased a new stake in shares of Pacira BioSciences in the 1st quarter valued at about $95,000. Hedge funds and other 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.