Pacira BioSciences, Inc. (NASDAQ:PCRX) Receives $24.78 Consensus Target Price from Analysts

Shares of Pacira BioSciences, Inc. (NASDAQ:PCRX) have earned an average recommendation of “Hold” from the nine research firms that are presently covering the company, Marketbeat.com reports. Two research analysts have rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating on the company. The average 12 month price target among brokers that have covered the stock in the last year is $24.78.

A number of research analysts recently weighed in on the company. JPMorgan Chase & Co. reissued an “underweight” rating and set a $10.00 target price (down from $45.00) on shares of Pacira BioSciences in a report on Monday, August 12th. HC Wainwright dropped their price objective on shares of Pacira BioSciences from $57.00 to $39.00 and set a “buy” rating on the stock in a research report on Monday, August 12th. Raymond James cut shares of Pacira BioSciences from an “outperform” rating to a “market perform” rating in a research note on Monday, August 12th. StockNews.com cut shares of Pacira BioSciences from a “strong-buy” rating to a “buy” rating in a report on Monday, August 12th. Finally, Royal Bank of Canada cut Pacira BioSciences from an “outperform” rating to a “sector perform” rating and reduced their price objective for the stock from $37.00 to $14.00 in a report on Monday, August 12th.

Pacira BioSciences Stock Performance

NASDAQ PCRX opened at $14.65 on Monday. The firm has a market capitalization of $681.90 million, a P/E ratio of 10.24 and a beta of 0.84. The company has a current ratio of 6.82, a quick ratio of 5.70 and a debt-to-equity ratio of 0.67. The firm’s fifty day moving average price is $16.77 and its two-hundred day moving average price is $24.20. Pacira BioSciences has a 1 year low of $11.16 and a 1 year high of $35.95.

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, beating the consensus estimate of $0.53 by $0.11. The business had revenue of $178.02 million during the quarter, compared to the consensus estimate of $173.31 million. Pacira BioSciences had a net margin of 9.21% and a return on equity of 13.22%. As a group, research analysts anticipate that Pacira BioSciences will post 2.24 EPS for the current year.

Insider Transactions at Pacira BioSciences

In other news, CEO Frank D. Lee acquired 8,264 shares of the stock in a transaction on Monday, August 12th. The stock was acquired 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 directly owns 107,784 shares in the company, valued at $1,304,186.40. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, insider Jonathan Slonin sold 2,836 shares of the company’s stock in a transaction that occurred 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 owns 95,557 shares of the company’s stock, valued at $2,699,485.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Frank D. Lee bought 8,264 shares of the stock in a transaction that occurred on Monday, August 12th. The shares were bought at an average cost of $12.10 per share, with a total value 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. The disclosure for this purchase can be found here. In the last 90 days, insiders bought 11,176 shares of company stock valued at $136,240 and sold 4,281 shares valued at $105,494. 6.40% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Pacira BioSciences

A number of hedge funds have recently bought and sold shares of PCRX. Brown Financial Advisors acquired a new position in shares of Pacira BioSciences in the 2nd quarter valued at about $295,000. Truist Financial Corp bought a new position in Pacira BioSciences during the second quarter worth $423,000. The Manufacturers Life Insurance Company grew its holdings in Pacira BioSciences by 6.0% in the second quarter. The Manufacturers Life Insurance Company now owns 23,932 shares of the company’s stock worth $685,000 after purchasing an additional 1,354 shares during the period. Deerfield Management Company L.P. Series C acquired a new position in shares of Pacira BioSciences during the second quarter valued at about $488,000. Finally, Doma Perpetual Capital Management LLC boosted its position in shares of Pacira BioSciences by 71.8% during the 2nd quarter. Doma Perpetual Capital Management LLC now owns 1,000,761 shares of the company’s stock worth $28,632,000 after purchasing an additional 418,321 shares in the last quarter. Institutional investors 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.