Pacira BioSciences’ (PCRX) “Buy” Rating Reiterated at Needham & Company LLC

Pacira BioSciences (NASDAQ:PCRX)‘s stock had its “buy” rating reaffirmed by research analysts at Needham & Company LLC in a report released on Friday,Benzinga reports. They currently have a $30.00 target price on the stock. Needham & Company LLC’s price target points to a potential upside of 15.30% from the stock’s previous close.

Other analysts have also recently issued research reports about the stock. HC Wainwright reissued a “buy” rating and issued a $38.00 price objective on shares of Pacira BioSciences in a research note on Friday. Truist Financial cut their target price on Pacira BioSciences from $30.00 to $28.00 and set a “buy” rating on the stock in a report on Friday, November 7th. Barclays started coverage on Pacira BioSciences in a research note on Tuesday, December 9th. They issued an “equal weight” rating and a $27.00 price target for the company. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Pacira BioSciences in a research note on Monday, December 29th. Finally, Wall Street Zen upgraded shares of Pacira BioSciences from a “buy” rating to a “strong-buy” rating in a report on Saturday, November 8th. Three research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $28.20.

Pacira BioSciences Price Performance

Pacira BioSciences stock opened at $26.02 on Friday. The company has a market capitalization of $1.12 billion, a PE ratio of 57.82 and a beta of 0.22. The company has a current ratio of 5.26, a quick ratio of 3.78 and a debt-to-equity ratio of 0.52. The stock has a 50-day moving average price of $24.49 and a two-hundred day moving average price of $24.24. Pacira BioSciences has a 12 month low of $19.81 and a 12 month high of $27.64.

Pacira BioSciences (NASDAQ:PCRX) last posted its earnings results on Thursday, November 6th. The company reported $0.70 EPS for the quarter, topping the consensus estimate of $0.65 by $0.05. Pacira BioSciences had a net margin of 2.99% and a return on equity of 12.82%. The business had revenue of $179.52 million for the quarter, compared to the consensus estimate of $182.86 million. During the same period last year, the company earned $0.79 EPS. The firm’s revenue was up 6.5% compared to the same quarter last year. Analysts expect that Pacira BioSciences will post 2.41 EPS for the current year.

Insider Transactions at Pacira BioSciences

In other Pacira BioSciences news, CFO Shawn Cross sold 9,104 shares of the firm’s stock in a transaction on Wednesday, December 10th. The shares were sold at an average price of $25.14, for a total value of $228,874.56. Following the completion of the sale, the chief financial officer directly owned 56,250 shares in the company, valued at approximately $1,414,125. This trade represents a 13.93% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Lauren Riker sold 1,416 shares of the company’s stock in a transaction dated Monday, January 5th. The shares were sold at an average price of $24.24, for a total transaction of $34,323.84. Following the transaction, the senior vice president owned 59,064 shares in the company, valued at $1,431,711.36. This represents a 2.34% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 34,336 shares of company stock valued at $851,868 in the last quarter. 6.40% of the stock is currently owned by company insiders.

Institutional Trading of Pacira BioSciences

Several large investors have recently made changes to their positions in PCRX. Doma Perpetual Capital Management LLC raised its stake in Pacira BioSciences by 49.7% during the 3rd quarter. Doma Perpetual Capital Management LLC now owns 2,701,324 shares of the company’s stock worth $69,613,000 after buying an additional 897,255 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of Pacira BioSciences by 0.5% during the third quarter. Dimensional Fund Advisors LP now owns 2,163,473 shares of the company’s stock valued at $55,751,000 after acquiring an additional 11,831 shares in the last quarter. Balyasny Asset Management L.P. raised its position in shares of Pacira BioSciences by 36.1% during the second quarter. Balyasny Asset Management L.P. now owns 2,130,733 shares of the company’s stock worth $50,925,000 after purchasing an additional 565,288 shares during the period. American Century Companies Inc. raised its position in shares of Pacira BioSciences by 16.6% during the third quarter. American Century Companies Inc. now owns 1,378,513 shares of the company’s stock worth $35,524,000 after purchasing an additional 196,000 shares during the period. Finally, Geode Capital Management LLC lifted its holdings in shares of Pacira BioSciences by 0.5% in the 2nd quarter. Geode Capital Management LLC now owns 1,143,190 shares of the company’s stock worth $27,326,000 after purchasing an additional 5,658 shares in the last quarter. 99.73% of the stock is currently owned by institutional investors and hedge funds.

Pacira BioSciences Company Profile

Pacira BioSciences, Inc is a specialty pharmaceutical company focused on developing and commercializing non-opioid, non-addictive pain management and regenerative health solutions. The company’s flagship product, EXPAREL, is a bupivacaine liposome injectable suspension designed to provide long-lasting postsurgical analgesia. EXPAREL is used by clinicians across a broad range of surgical procedures to reduce reliance on opioid medications and to help manage acute postoperative pain.

In addition to its marketed offering, Pacira maintains an active pipeline of investigational products aimed at addressing unmet needs in pain management and inflammation control.