Pacira BioSciences (NASDAQ:PCRX) Shares Gap Up on Analyst Upgrade

Pacira BioSciences, Inc. (NASDAQ:PCRX) shares gapped up prior to trading on Wednesday after Jefferies Financial Group raised their price target on the stock from $15.00 to $18.00. The stock had previously closed at $14.26, but opened at $14.61. Jefferies Financial Group currently has a buy rating on the stock. Pacira BioSciences shares last traded at $14.40, with a volume of 35,844 shares trading hands.

A number of other research firms have also recently issued reports on PCRX. Barclays cut shares of Pacira BioSciences from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $38.00 to $25.00 in a research note on Wednesday, July 3rd. Royal Bank of Canada cut shares of Pacira BioSciences from an “outperform” rating to a “sector perform” rating and lowered their target price for the stock from $37.00 to $14.00 in a report on Monday, August 12th. JPMorgan Chase & Co. reiterated an “underweight” rating and issued a $10.00 price target (down from $45.00) on shares of Pacira BioSciences in a research note on Monday, August 12th. Needham & Company LLC dropped their price objective on Pacira BioSciences from $43.00 to $22.00 and set a “buy” rating for the company in a report on Monday, August 12th. Finally, StockNews.com lowered Pacira BioSciences from a “strong-buy” rating to a “buy” rating in a report on Monday, August 12th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $24.10.

Insider Buying and Selling

In related news, insider Jonathan Slonin sold 2,836 shares of Pacira BioSciences stock in a transaction that occurred on Tuesday, July 2nd. The shares were sold at an average price of $28.25, for a total transaction 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Pacira BioSciences news, CEO Frank D. Lee purchased 8,264 shares of the firm’s stock in a transaction on Monday, August 12th. The stock was purchased at an average cost of $12.10 per share, for a total transaction of $99,994.40. Following the transaction, the chief executive officer now owns 107,784 shares in the company, valued at approximately $1,304,186.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Jonathan Slonin sold 2,836 shares of Pacira BioSciences 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 directly owns 95,557 shares in the company, valued at $2,699,485.25. The disclosure for this sale can be found here. In the last ninety days, insiders acquired 11,176 shares of company stock worth $136,240 and sold 4,281 shares worth $105,494. 6.40% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Pacira BioSciences

Several hedge funds and other institutional investors have recently modified their holdings of PCRX. Texas Permanent School Fund Corp increased its stake in Pacira BioSciences by 1.4% during the 1st quarter. Texas Permanent School Fund Corp now owns 40,642 shares of the company’s stock valued at $1,188,000 after purchasing an additional 543 shares in the last quarter. Duality Advisers LP raised its holdings in shares of Pacira BioSciences by 1.8% in the 1st quarter. Duality Advisers LP now owns 34,784 shares of the company’s stock worth $1,016,000 after acquiring an additional 605 shares during the last quarter. Inspire Investing LLC lifted its position in Pacira BioSciences by 5.9% in the 1st quarter. Inspire Investing LLC now owns 12,131 shares of the company’s stock valued at $354,000 after acquiring an additional 675 shares in the last quarter. ICA Group Wealth Management LLC purchased a new stake in shares of Pacira BioSciences in the fourth quarter worth approximately $30,000. Finally, ProShare Advisors LLC lifted its stake in Pacira BioSciences by 8.0% during the 1st quarter. ProShare Advisors LLC now owns 12,461 shares of the company’s stock valued at $364,000 after acquiring an additional 924 shares in the last quarter. Institutional investors own 99.73% of the company’s stock.

Pacira BioSciences Trading Down 0.3 %

The company has a debt-to-equity ratio of 0.67, a current ratio of 6.82 and a quick ratio of 5.70. The firm’s fifty day moving average is $16.20 and its two-hundred day moving average is $23.71. The firm has a market capitalization of $655.97 million, a PE ratio of 9.97 and a beta of 0.84.

Pacira BioSciences (NASDAQ:PCRX) last announced its quarterly earnings data on Tuesday, July 30th. The company reported $0.64 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $178.02 million during the quarter, compared to the consensus estimate of $173.31 million. On average, equities analysts predict that Pacira BioSciences, Inc. will post 2.24 EPS for the current fiscal year.

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.