Pacira BioSciences, Inc. (NASDAQ:PCRX) Given Average Recommendation of “Buy” by Brokerages

Shares of Pacira BioSciences, Inc. (NASDAQ:PCRX) have been given a consensus recommendation of “Buy” by the ten ratings firms that are currently covering the firm, MarketBeat reports. Ten research analysts have rated the stock with a buy recommendation. The average twelve-month price target among brokers that have covered the stock in the last year is $47.40.

PCRX has been the topic of several recent analyst reports. Barclays decreased their target price on shares of Pacira BioSciences from $40.00 to $38.00 and set an “overweight” rating on the stock in a report on Wednesday, May 8th. HC Wainwright reissued a “buy” rating and issued a $57.00 target price on shares of Pacira BioSciences in a report on Tuesday. JPMorgan Chase & Co. began coverage on shares of Pacira BioSciences in a report on Thursday, March 7th. They issued an “overweight” rating and a $45.00 target price on the stock. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $43.00 price target on shares of Pacira BioSciences in a report on Tuesday.

Pacira BioSciences Price Performance

PCRX stock opened at $22.74 on Wednesday. The company has a quick ratio of 4.78, a current ratio of 5.81 and a debt-to-equity ratio of 0.57. Pacira BioSciences has a 12 month low of $20.52 and a 12 month high of $40.45. The firm has a market cap of $1.06 billion, a P/E ratio of 15.90 and a beta of 0.88. The company’s 50-day moving average price is $28.69 and its two-hundred day moving average price is $29.78.

Pacira BioSciences (NASDAQ:PCRX) last released its earnings results on Tuesday, May 7th. The company reported $0.42 EPS for the quarter, missing the consensus estimate of $0.46 by ($0.04). Pacira BioSciences had a net margin of 10.34% and a return on equity of 12.98%. The firm had revenue of $167.12 million during the quarter, compared to the consensus estimate of $165.43 million. On average, analysts anticipate that Pacira BioSciences will post 2.13 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Pacira BioSciences news, insider Kristen Williams sold 7,452 shares of the business’s stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $28.38, for a total transaction of $211,487.76. Following the sale, the insider now directly owns 102,912 shares of the company’s stock, valued at approximately $2,920,642.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Pacira BioSciences news, insider Kristen Williams sold 7,452 shares of the business’s stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $28.38, for a total transaction of $211,487.76. Following the sale, the insider now directly owns 102,912 shares of the company’s stock, valued at approximately $2,920,642.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Lauren Riker sold 3,970 shares of the business’s stock in a transaction that occurred on Wednesday, June 12th. The stock was sold at an average price of $28.72, for a total transaction of $114,018.40. Following the sale, the senior vice president now directly owns 38,075 shares in the company, valued at $1,093,514. The disclosure for this sale can be found here. Insiders have sold 18,314 shares of company stock valued at $522,053 in the last ninety days. 6.40% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. ICA Group Wealth Management LLC acquired a new position in shares of Pacira BioSciences in the 4th quarter worth approximately $30,000. GAMMA Investing LLC lifted its position in shares of Pacira BioSciences by 229.6% in the 2nd quarter. GAMMA Investing LLC now owns 1,338 shares of the company’s stock worth $38,000 after purchasing an additional 932 shares during the period. Park Place Capital Corp acquired a new position in shares of Pacira BioSciences during the 2nd quarter valued at $46,000. Quadrant Capital Group LLC boosted its stake in Pacira BioSciences by 61.5% during the fourth quarter. Quadrant Capital Group LLC now owns 2,324 shares of the company’s stock worth $78,000 after acquiring an additional 885 shares in the last quarter. Finally, Cape Investment Advisory Inc. bought a new position in Pacira BioSciences during the fourth quarter worth $97,000. Institutional investors and hedge funds own 99.73% of the company’s stock.

Pacira BioSciences Company Profile

Pacira BioSciences, Inc engages in the development, manufacture, marketing, distribution, and sale of non-opioid pain management and regenerative health solutions to healthcare practitioners in the United States. The company offers EXPAREL, a bupivacaine liposome injectable suspension; ZILRETTA, a triamcinolone acetonide extended-release injectable suspension; and iovera system, a non-opioid handheld cryoanalgesia device used to produce controlled doses of cold temperature to targeted nerves.