Pacira BioSciences (NASDAQ:PCRX) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Pacira BioSciences (NASDAQ:PCRX) from a buy rating to a strong-buy rating in a research note released on Saturday,Wall Street Zen reports.

Several other equities research analysts also recently commented on PCRX. Needham & Company LLC raised their target price on Pacira BioSciences from $32.00 to $33.00 and gave the company a “buy” rating in a report on Wednesday, August 5th. Leerink Partners started coverage on Pacira BioSciences in a report on Wednesday, September 9th. They issued a “market perform” rating and a $28.00 price target for the company. Royal Bank Of Canada increased their price objective on shares of Pacira BioSciences from $24.00 to $25.00 and gave the company a “sector perform” rating in a research report on Wednesday, August 5th. Truist Financial began coverage on shares of Pacira BioSciences in a research note on Monday, August 17th. They set a “buy” rating and a $30.00 price objective on the stock. Finally, HC Wainwright reissued a “buy” rating and set a $38.00 target price on shares of Pacira BioSciences in a research report on Wednesday, July 1st. Four equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Pacira BioSciences presently has a consensus rating of “Hold” and a consensus price target of $30.14.

Pacira BioSciences Stock Up 1.1%

Shares of NASDAQ PCRX opened at $25.39 on Friday. The stock has a fifty day moving average price of $25.32 and a 200 day moving average price of $24.29. The company has a current ratio of 5.04, a quick ratio of 3.94 and a debt-to-equity ratio of 0.54. Pacira BioSciences has a 12-month low of $18.80 and a 12-month high of $27.66. The company has a market cap of $1.01 billion, a P/E ratio of 72.54 and a beta of 0.26.

Pacira BioSciences (NASDAQ:PCRX) last issued its quarterly earnings data on Tuesday, August 4th. The company reported $0.73 EPS for the quarter, topping analysts’ consensus estimates of $0.65 by $0.08. Pacira BioSciences had a return on equity of 9.68% and a net margin of 1.96%.The company had revenue of $192.40 million for the quarter, compared to analysts’ expectations of $191.06 million. During the same quarter in the previous year, the firm posted $0.74 earnings per share. The firm’s quarterly revenue was up 6.2% on a year-over-year basis. Research analysts anticipate that Pacira BioSciences will post 2.03 EPS for the current fiscal year.

Insider Buying and Selling at Pacira BioSciences

In other news, insider Jonathan Slonin sold 3,040 shares of Pacira BioSciences stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $23.23, for a total transaction of $70,619.20. Following the sale, the insider directly owned 216,384 shares of the company’s stock, valued at approximately $5,026,600.32. The trade was a 1.39% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 6.40% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. PNC Financial Services Group Inc. increased its holdings in shares of Pacira BioSciences by 15.1% in the 1st quarter. PNC Financial Services Group Inc. now owns 3,751 shares of the company’s stock valued at $85,000 after acquiring an additional 492 shares during the last quarter. State of Wyoming raised its position in shares of Pacira BioSciences by 7.0% during the 4th quarter. State of Wyoming now owns 11,155 shares of the company’s stock valued at $289,000 after acquiring an additional 728 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its stake in Pacira BioSciences by 10.8% during the first quarter. Allspring Global Investments Holdings LLC now owns 11,746 shares of the company’s stock worth $268,000 after purchasing an additional 1,142 shares during the last quarter. Hsbc Holdings PLC lifted its stake in Pacira BioSciences by 7.7% during the fourth quarter. Hsbc Holdings PLC now owns 18,416 shares of the company’s stock worth $479,000 after purchasing an additional 1,316 shares during the last quarter. Finally, Hantz Financial Services Inc. boosted its holdings in Pacira BioSciences by 127.3% in the fourth quarter. Hantz Financial Services Inc. now owns 2,573 shares of the company’s stock worth $67,000 after purchasing an additional 1,441 shares during the period. Hedge funds and other institutional investors own 99.73% of the company’s stock.

Pacira BioSciences Company Profile

Pacira BioSciences, Inc is a pharmaceutical company focused on developing and commercializing non-opioid pain-management products. The company’s therapies are intended to help manage acute and chronic pain while supporting efforts to reduce reliance on opioid medications.

Pacira’s principal product is EXPAREL, an extended-release formulation of bupivacaine used for postsurgical pain management and regional analgesia. The company also markets ZILRETTA, an extended-release corticosteroid injection for osteoarthritis knee pain, and iovera, a device-based treatment that uses targeted cold therapy to temporarily block peripheral nerves and reduce pain.

Founded as Pacira Pharmaceuticals, the company changed its name to Pacira BioSciences in 2020 to reflect its broader focus on innovative pain therapies.