Pacira BioSciences (NASDAQ:PCRX) Reaches New 1-Year High – Time to Buy?

Pacira BioSciences, Inc. (NASDAQ:PCRX)’s share price reached a new 52-week high during mid-day trading on Monday. The company traded as high as $37.18 and last traded at $36.4130, with a volume of 2,012 shares. The stock had previously closed at $36.39.

Analysts Set New Price Targets

PCRX has been the subject of several recent research reports. Zacks Research cut Pacira BioSciences from a “hold” rating to a “strong sell” rating in a report on Monday, October 5th. Weiss Ratings upgraded shares of Pacira BioSciences from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday, October 8th. JPMorgan Chase & Co. raised Pacira BioSciences from an “underweight” rating to a “neutral” rating and set a $36.50 price objective for the company in a research report on Thursday, October 8th. Leerink Partners started coverage on Pacira BioSciences in a research note on Wednesday, September 9th. They issued a “market perform” rating and a $28.00 price objective for the company. Finally, Truist Financial cut shares of Pacira BioSciences from a “buy” rating to a “hold” rating and raised their price target for the company from $31.00 to $36.50 in a research report on Friday, October 9th. One analyst has rated the stock with a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $33.33.

Pacira BioSciences Stock Performance

The stock has a market cap of $1.45 billion, a price-to-earnings ratio of 103.96 and a beta of 0.25. The stock’s 50-day moving average is $29.06 and its 200-day moving average is $24.82. 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 (NASDAQ:PCRX) last issued its quarterly earnings results on Tuesday, August 4th. The company reported $0.73 earnings per share for the quarter, beating 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 business had revenue of $192.40 million during the quarter, compared to the consensus estimate of $191.06 million. During the same period in the previous year, the business earned $0.74 EPS. The business’s quarterly revenue was up 6.2% on a year-over-year basis. On average, analysts expect that Pacira BioSciences, Inc. will post 1.86 EPS for the current year.

Insider Transactions at Pacira BioSciences

In other Pacira BioSciences news, SVP Lauren Riker sold 6,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 8th. The shares were sold at an average price of $36.32, for a total transaction of $217,920.00. Following the completion of the sale, the senior vice president directly owned 62,284 shares in the company, valued at $2,262,154.88. This trade represents a 8.79% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Jonathan Slonin sold 3,040 shares of the firm’s stock in a transaction on Monday, August 17th. The stock was sold at an average price of $23.23, for a total value of $70,619.20. Following the completion of the transaction, the insider owned 216,384 shares in the company, valued at $5,026,600.32. The trade was a 1.39% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 6.40% of the company’s stock.

Institutional Investors Weigh In On Pacira BioSciences

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Global Retirement Partners LLC purchased a new position in Pacira BioSciences in the second quarter worth $51,000. Meeder Asset Management Inc. purchased a new stake in Pacira BioSciences during the 1st quarter valued at about $46,000. Mirae Asset Global Investments Co. Ltd. bought a new position in Pacira BioSciences during the 3rd quarter valued at about $51,000. State of Wyoming purchased a new stake in Pacira BioSciences in the second quarter worth about $78,000. Finally, PNC Financial Services Group Inc. boosted its stake in Pacira BioSciences by 15.1% during the first quarter. PNC Financial Services Group Inc. now owns 3,751 shares of the company’s stock valued at $85,000 after buying an additional 492 shares during the last quarter. 99.73% of the stock is currently owned by institutional investors.

Pacira BioSciences Company Profile

Pacira BioSciences, Inc is a specialty pharmaceutical company focused on developing and commercializing non-opioid pain-management and regenerative health solutions. The company’s products are designed to address acute postsurgical pain and osteoarthritis-related pain while supporting efforts to reduce reliance on opioid medications.

Pacira’s lead product is EXPAREL, an extended-release formulation of bupivacaine administered by injection for postsurgical pain management. The company also markets ZILRETTA, an extended-release corticosteroid injection indicated for osteoarthritis knee pain, and iovera°, a cryoanalgesia system that uses controlled cooling to temporarily block peripheral nerves and relieve pain.

Formerly known as Pacira Pharmaceuticals, the company adopted the Pacira BioSciences name to reflect its broader focus on innovative pain and regenerative-health therapies.