Pacira BioSciences, Inc. (NASDAQ:PCRX) Stock Has Consensus Price Target of $33.33

Pacira BioSciences, Inc. (NASDAQ:PCRX) has received a consensus rating of “Hold” from the eleven research firms that are presently covering the company, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, nine have issued a hold recommendation and one has given a buy recommendation to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $33.33.

PCRX has been the subject of several analyst reports. Wall Street Zen upgraded Pacira BioSciences from a “buy” rating to a “strong-buy” rating in a research note on Saturday, September 26th. JPMorgan Chase & Co. upgraded shares of Pacira BioSciences from an “underweight” rating to a “neutral” rating and set a $36.50 price objective on the stock in a research report on Thursday, October 8th. Truist Financial cut shares of Pacira BioSciences from a “buy” rating to a “hold” rating and boosted their price objective for the company from $31.00 to $36.50 in a research note on Friday, October 9th. Zacks Research downgraded shares of Pacira BioSciences from a “hold” rating to a “strong sell” rating in a research report on Monday, October 5th. Finally, 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.

Insider Activity at Pacira BioSciences

In related news, insider Jonathan Slonin sold 3,040 shares of Pacira BioSciences 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 $5,026,600.32. The trade was a 1.39% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Lauren Riker sold 6,000 shares of the business’s stock in a transaction on Thursday, October 8th. The stock was sold at an average price of $36.32, for a total transaction of $217,920.00. Following the sale, the senior vice president owned 62,284 shares in the company, valued at $2,262,154.88. The trade was a 8.79% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 6.40% of the stock is owned by company insiders.

Institutional Trading of Pacira BioSciences

A number of institutional investors have recently added to or reduced their stakes in the stock. Meeder Asset Management Inc. acquired a new position in Pacira BioSciences during the first quarter worth about $46,000. Global Retirement Partners LLC purchased a new position in Pacira BioSciences in the second quarter valued at about $51,000. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Pacira BioSciences during the 3rd quarter valued at approximately $51,000. State of Wyoming acquired a new stake in shares of Pacira BioSciences during the 2nd quarter valued at approximately $78,000. Finally, PNC Financial Services Group Inc. boosted its stake in shares of Pacira BioSciences by 15.1% during the 1st quarter. PNC Financial Services Group Inc. now owns 3,751 shares of the company’s stock worth $85,000 after acquiring an additional 492 shares in the last quarter. Hedge funds and other institutional investors own 99.73% of the company’s stock.

Pacira BioSciences Stock Performance

Shares of PCRX stock opened at $36.39 on Friday. The stock’s 50-day moving average price is $29.06 and its 200 day moving average price is $24.82. The company has a quick ratio of 3.94, a current ratio of 5.04 and a debt-to-equity ratio of 0.54. The stock has a market capitalization of $1.45 billion, a PE ratio of 103.97 and a beta of 0.25. Pacira BioSciences has a 52-week low of $18.80 and a 52-week high of $36.67.

Pacira BioSciences (NASDAQ:PCRX) last posted its quarterly earnings data on Tuesday, August 4th. The company reported $0.73 earnings per share 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 during the quarter, compared to analysts’ expectations of $191.06 million. During the same period last year, the firm earned $0.74 EPS. The firm’s revenue for the quarter was up 6.2% on a year-over-year basis. As a group, equities research analysts forecast that Pacira BioSciences will post 1.86 EPS for the current year.

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.