Pacira BioSciences, Inc. (NASDAQ:PCRX) Receives Consensus Recommendation of “Hold” from Analysts

Shares of Pacira BioSciences, Inc. (NASDAQ:PCRX) have been given an average rating of “Hold” by the ten brokerages that are presently covering the firm, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, four have assigned a hold recommendation and four have assigned a buy recommendation to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $24.20.

Several brokerages have recently weighed in on PCRX. StockNews.com lowered shares of Pacira BioSciences from a “strong-buy” rating to a “buy” rating in a research report on Monday, August 12th. JPMorgan Chase & Co. restated an “underweight” rating and set a $10.00 target price (down previously from $45.00) on shares of Pacira BioSciences in a research report 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 research note on Monday, August 12th. Raymond James downgraded shares of Pacira BioSciences from an “outperform” rating to a “market perform” rating in a research note on Monday, August 12th. Finally, Royal Bank of Canada increased their target price 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 Trading Up 2.3 %

Pacira BioSciences stock opened at $16.69 on Friday. Pacira BioSciences has a 12 month low of $11.16 and a 12 month high of $35.95. The stock has a market cap of $776.85 million, a price-to-earnings ratio of 11.67 and a beta of 0.84. The business has a 50 day moving average price of $14.75 and a two-hundred day moving average price of $22.24. The company has a quick ratio of 5.70, a current ratio of 6.82 and a debt-to-equity ratio of 0.67.

Pacira BioSciences (NASDAQ:PCRX) last issued its earnings results on Tuesday, July 30th. The company reported $0.64 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 business had revenue of $178.02 million during the quarter, compared to analyst estimates of $173.31 million. As a group, equities analysts forecast that Pacira BioSciences will post 2.24 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Frank D. Lee bought 8,264 shares of the stock in a transaction dated Monday, August 12th. The stock was bought at an average cost of $12.10 per share, with a total value of $99,994.40. Following the purchase, the chief executive officer now owns 107,784 shares of the company’s stock, valued at approximately $1,304,186.40. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Over the last three months, insiders purchased 11,176 shares of company stock valued at $136,240. Insiders own 6.40% of the company’s stock.

Institutional Trading of Pacira BioSciences

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PCRX. GAMMA Investing LLC lifted its position in Pacira BioSciences by 229.6% during the 2nd quarter. GAMMA Investing LLC now owns 1,338 shares of the company’s stock valued at $38,000 after purchasing an additional 932 shares during the period. Park Place Capital Corp acquired a new position in Pacira BioSciences in the second quarter valued at approximately $46,000. Innealta Capital LLC bought a new position in Pacira BioSciences in the second quarter valued at approximately $50,000. nVerses Capital LLC grew its holdings in Pacira BioSciences by 800.0% during 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 period. Finally, Natixis acquired a new stake in Pacira BioSciences during the 1st quarter worth $95,000. 99.73% of the stock is currently owned by institutional investors and hedge funds.

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.