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

Shares of Pacira BioSciences, Inc. (NASDAQ:PCRX) have been given an average rating of “Hold” by the nine brokerages that are covering the stock, MarketBeat Ratings reports. Two analysts have rated the stock with a sell recommendation, four have assigned a hold recommendation and three have issued a buy recommendation on the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $24.78.

PCRX has been the topic of several recent analyst reports. JPMorgan Chase & Co. reaffirmed an “underweight” rating and issued a $10.00 price target (down previously from $45.00) on shares of Pacira BioSciences in a research note on Monday, August 12th. StockNews.com lowered shares of Pacira BioSciences from a “strong-buy” rating to a “buy” rating in a research report on Monday, August 12th. Truist Financial lowered Pacira BioSciences from a “buy” rating to a “sell” rating and lowered their price target for the company from $30.00 to $8.00 in a report on Tuesday, August 13th. Barclays cut Pacira BioSciences from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $38.00 to $25.00 in a research note on Wednesday, July 3rd. Finally, Raymond James cut Pacira BioSciences from an “outperform” rating to a “market perform” rating in a report on Monday, August 12th.

Pacira BioSciences Stock Performance

Shares of NASDAQ PCRX opened at $14.53 on Monday. The company has a debt-to-equity ratio of 0.67, a current ratio of 6.82 and a quick ratio of 5.70. Pacira BioSciences has a 1 year low of $11.16 and a 1 year high of $35.95. The firm has a fifty day moving average price of $16.48 and a 200-day moving average price of $24.03. The stock has a market cap of $670.27 million, a PE ratio of 10.16 and a beta of 0.84.

Pacira BioSciences (NASDAQ:PCRX) last issued its quarterly earnings data on Tuesday, July 30th. The company reported $0.64 earnings per share 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 analyst estimates of $173.31 million. Equities analysts anticipate that Pacira BioSciences will post 2.24 earnings per share for the current fiscal year.

Insider Activity at Pacira BioSciences

In related news, CEO Frank D. Lee bought 8,264 shares of the stock in a transaction that occurred 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 completion of the acquisition, the chief executive officer now owns 107,784 shares in the company, valued at $1,304,186.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Frank D. Lee purchased 8,264 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The shares were purchased at an average price of $12.10 per share, with a total value of $99,994.40. Following the purchase, the chief executive officer now directly owns 107,784 shares of the company’s stock, valued at approximately $1,304,186.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jonathan Slonin sold 2,836 shares of Pacira BioSciences stock in a transaction on Tuesday, July 2nd. The stock was sold at an average price of $28.25, for a total transaction of $80,117.00. Following the completion of the sale, the insider now owns 95,557 shares of the company’s stock, valued at approximately $2,699,485.25. The disclosure for this sale can be found here. Over the last quarter, insiders have purchased 11,176 shares of company stock valued at $136,240 and have sold 4,281 shares valued at $105,494. Corporate insiders own 6.40% of the company’s stock.

Hedge Funds Weigh In On Pacira BioSciences

Several large investors have recently bought and sold shares of the stock. Texas Permanent School Fund Corp boosted its stake in shares of 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 buying an additional 543 shares during the period. Duality Advisers LP grew its stake in Pacira BioSciences by 1.8% in the first quarter. Duality Advisers LP now owns 34,784 shares of the company’s stock valued at $1,016,000 after purchasing an additional 605 shares in the last quarter. Inspire Investing LLC increased 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 worth $354,000 after purchasing an additional 675 shares during the last quarter. Quadrant Capital Group LLC raised its stake in shares of Pacira BioSciences by 61.5% during the 4th quarter. Quadrant Capital Group LLC now owns 2,324 shares of the company’s stock worth $78,000 after purchasing an additional 885 shares in the last quarter. Finally, ICA Group Wealth Management LLC acquired a new stake in shares of Pacira BioSciences during the 4th quarter valued at about $30,000. Institutional investors and hedge funds 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.