Pacira BioSciences (NASDAQ:PCRX) Research Coverage Started at Oppenheimer

Oppenheimer started coverage on shares of Pacira BioSciences (NASDAQ:PCRX) in a research report sent to investors on Wednesday morning, Marketbeat Ratings reports. The firm issued an outperform rating and a $32.00 target price on the stock.

Other analysts have also issued research reports about the company. HC Wainwright reaffirmed a “buy” rating and issued a $38.00 target price on shares of Pacira BioSciences in a report on Wednesday, July 1st. Leerink Partners assumed coverage on Pacira BioSciences in a report on Wednesday, September 9th. They set a “market perform” rating and a $28.00 price target for the company. Truist Financial began coverage on Pacira BioSciences in a research report on Monday, August 17th. They issued a “buy” rating and a $30.00 price objective for the company. Needham & Company LLC raised their price objective on shares of Pacira BioSciences from $32.00 to $33.00 and gave the stock a “buy” rating in a research note on Wednesday, August 5th. Finally, Royal Bank Of Canada boosted their target price 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. Four analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Pacira BioSciences currently has a consensus rating of “Hold” and a consensus target price of $30.14.

Pacira BioSciences Stock Down 1.7%

PCRX stock opened at $25.12 on Wednesday. The company has a debt-to-equity ratio of 0.54, a current ratio of 5.04 and a quick ratio of 3.94. Pacira BioSciences has a 52-week low of $18.80 and a 52-week high of $27.66. The company has a 50-day moving average of $25.32 and a two-hundred day moving average of $24.25. The stock has a market capitalization of $1.00 billion, a price-to-earnings ratio of 71.77 and a beta of 0.26.

Pacira BioSciences (NASDAQ:PCRX) last issued its quarterly earnings results on Tuesday, August 4th. The company reported $0.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.08. The company had revenue of $192.40 million for the quarter, compared to the consensus estimate of $191.06 million. Pacira BioSciences had a return on equity of 9.68% and a net margin of 1.96%.The firm’s revenue was up 6.2% compared to the same quarter last year. During the same period last year, the business posted $0.74 earnings per share. As a group, equities research analysts anticipate that Pacira BioSciences will post 1.98 EPS for the current year.

Insiders Place Their Bets

In other news, insider Jonathan Slonin sold 3,040 shares of the company’s stock in a transaction that occurred 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 sale, the insider directly owned 216,384 shares in the company, valued at approximately $5,026,600.32. This represents a 1.39% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 6.40% of the company’s stock.

Institutional Trading of Pacira BioSciences

Several institutional investors have recently bought and sold shares of the stock. Hillsdale Investment Management Inc. acquired a new stake in shares of Pacira BioSciences in the 4th quarter valued at $7,976,000. Bank of New York Mellon Corp bought a new stake in shares of Pacira BioSciences in the 2nd quarter worth about $7,532,000. Bank of America Corp DE acquired a new stake in shares of Pacira BioSciences during the 2nd quarter worth about $6,089,000. Empowered Funds LLC acquired a new stake in shares of Pacira BioSciences during the 2nd quarter worth about $5,076,000. Finally, PDT Partners LLC bought a new position in Pacira BioSciences during the 2nd quarter valued at about $3,358,000. Institutional investors and hedge funds own 99.73% of the company’s stock.

About Pacira BioSciences

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.