Pacira BioSciences (NASDAQ:PCRX) Cut to “Strong Sell” at Zacks Research

Zacks Research cut shares of Pacira BioSciences (NASDAQ:PCRX) from a hold rating to a strong sell rating in a research note published on Monday morning,Zacks reports.

PCRX has been the subject of a number of other reports. Needham & Company LLC raised their price objective on Pacira BioSciences from $32.00 to $33.00 and gave the stock a “buy” rating in a research report on Wednesday, August 5th. Wall Street Zen upgraded Pacira BioSciences from a “buy” rating to a “strong-buy” rating in a report on Saturday, September 26th. Royal Bank Of Canada increased their price target on shares of Pacira BioSciences from $24.00 to $25.00 and gave the stock a “sector perform” rating in a research report on Wednesday, August 5th. HC Wainwright restated a “buy” rating and set a $38.00 price target on shares of Pacira BioSciences in a report on Wednesday, July 1st. Finally, Weiss Ratings cut shares of Pacira BioSciences from a “hold (c-)” rating to a “sell (d+)” rating in a report on Wednesday, September 16th. Four investment analysts have rated the stock with a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $30.29.

Pacira BioSciences Price Performance

Shares of NASDAQ:PCRX opened at $25.20 on Monday. The company’s fifty day moving average is $25.18 and its two-hundred day moving average is $24.41. The company has a market cap of $1.00 billion, a P/E ratio of 72.00 and a beta of 0.25. Pacira BioSciences has a 12-month low of $18.80 and a 12-month high of $27.66. The company has a quick ratio of 3.94, a current ratio of 5.04 and a debt-to-equity ratio of 0.54.

Pacira BioSciences (NASDAQ:PCRX) last issued its earnings results on Tuesday, August 4th. The company reported $0.73 EPS for the quarter, topping the consensus estimate of $0.65 by $0.08. The business had revenue of $192.40 million during the quarter, compared to analysts’ expectations of $191.06 million. Pacira BioSciences had a return on equity of 9.68% and a net margin of 1.96%.Pacira BioSciences’s revenue was up 6.2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.74 earnings per share. Equities analysts expect that Pacira BioSciences will post 1.91 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Jonathan Slonin sold 3,040 shares of Pacira BioSciences stock in a transaction on Monday, August 17th. The stock was sold at an average price of $23.23, for a total transaction of $70,619.20. Following the completion of the sale, the insider owned 216,384 shares of the company’s stock, valued at approximately $5,026,600.32. This trade represents a 1.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 6.40% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Bank of New York Mellon Corp acquired a new stake in Pacira BioSciences in the second quarter valued at approximately $7,532,000. Bank of America Corp DE acquired a new position in shares of Pacira BioSciences during the 2nd quarter worth $6,089,000. Empowered Funds LLC acquired a new position in shares of Pacira BioSciences during the 2nd quarter worth $5,076,000. PDT Partners LLC bought a new position in shares of Pacira BioSciences during the 2nd quarter valued at $3,358,000. Finally, Man Group plc bought a new position in shares of Pacira BioSciences during the 2nd quarter valued at $3,181,000. Hedge funds and other institutional investors own 99.73% of the company’s stock.

Trending Headlines about Pacira BioSciences

Here are the key news stories impacting Pacira BioSciences this week:

• Positive Sentiment: European expansion for EXPAREL: Pacira granted Molteni Farmaceutici exclusive rights to commercialize its EXPAREL non-opioid pain treatment in the European Union and United Kingdom. The agreement expands the product’s commercial reach and could create additional longer-term revenue opportunities outside the U.S. Pacira Announces Exclusive Agreement with Molteni Farmaceutici to Commercialize EXPAREL in the European Union and United Kingdom
• Positive Sentiment: Truist raises target and reiterates Buy: Truist Financial lifted its price target from $30 to $31 while maintaining a Buy rating, implying roughly 23% potential upside based on the referenced share price. The action provides a positive signal regarding valuation and future performance expectations.
• Positive Sentiment: Caregiver survey supports non-opioid pain-management demand: Pacira and Caregiver Action Network reported that families want clearer pain-management plans, earlier education and more practical guidance on non-opioid options before surgery. The findings may reinforce the need for products such as EXPAREL, although the survey does not represent near-term financial guidance. Pacira BioSciences and Caregiver Action Network Announce New Survey
• Neutral Sentiment: Analyst valuation remains above the market: Reports cite a consensus analyst target of approximately $30.14, suggesting analysts collectively see additional upside, but targets are estimates and do not guarantee future returns.
• Negative Sentiment: Zacks downgrade: Zacks Research downgraded PCRX from Hold to Strong Sell, creating a significant counterweight to Truist’s bullish view and potentially pressuring sentiment among technical and factor-driven investors. Zacks Research Downgrades Pacira BioSciences to Strong Sell

About Pacira BioSciences

Pacira BioSciences, Inc is a specialty pharmaceutical company focused on developing and commercializing non-opioid pain-management products. The company’s portfolio is designed to help manage acute and chronic pain while reducing reliance on traditional opioid therapies.

Its principal product is EXPAREL, an extended-release formulation of bupivacaine used to provide postsurgical pain relief. Pacira also markets ZILRETTA, an extended-release corticosteroid injection for osteoarthritis-related knee pain, and the iovera° system, a handheld cryoanalgesia device intended to temporarily block peripheral nerves and provide targeted pain relief.

Originally known as Pacira Pharmaceuticals, the company adopted the name Pacira BioSciences in 2018 to reflect its broader focus on innovative therapies and technologies.