Pacira BioSciences (NASDAQ:PCRX) Receives “Overweight” Rating from Piper Sandler

Piper Sandler reissued their overweight rating on shares of Pacira BioSciences (NASDAQ:PCRX) in a research report released on Wednesday morning, Benzinga reports. They currently have a $42.00 price target on the stock.

Several other brokerages have also recently weighed in on PCRX. JPMorgan Chase & Co. assumed coverage on shares of Pacira BioSciences in a research note on Thursday, March 7th. They set an overweight rating and a $45.00 price objective on the stock. HC Wainwright reaffirmed a buy rating and set a $57.00 price target on shares of Pacira BioSciences in a report on Tuesday. Needham & Company LLC reissued a buy rating and issued a $43.00 price objective on shares of Pacira BioSciences in a research note on Tuesday. Finally, Barclays lowered Pacira BioSciences from an overweight rating to an equal weight rating and lowered their target price for the company from $38.00 to $25.00 in a research note on Wednesday. One research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of Moderate Buy and an average price target of $46.10.

Pacira BioSciences Price Performance

Pacira BioSciences stock opened at $21.66 on Wednesday. The business has a 50 day simple moving average of $28.60 and a 200 day simple moving average of $29.73. The company has a debt-to-equity ratio of 0.57, a current ratio of 5.81 and a quick ratio of 4.78. The company has a market capitalization of $1.01 billion, a PE ratio of 15.15 and a beta of 0.88. Pacira BioSciences has a one year low of $20.52 and a one year high of $40.16.

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

Insider Buying and Selling at Pacira BioSciences

In other news, SVP Lauren Riker sold 3,970 shares of Pacira BioSciences stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $28.72, for a total transaction of $114,018.40. Following the completion of the sale, the senior vice president now owns 38,075 shares in the company, valued at approximately $1,093,514. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, insider Jonathan Slonin sold 2,836 shares of the stock in a transaction on Tuesday, July 2nd. The stock was sold at an average price of $28.25, for a total value of $80,117.00. Following the transaction, the insider now owns 95,557 shares of the company’s stock, valued at approximately $2,699,485.25. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Lauren Riker sold 3,970 shares of the firm’s stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $28.72, for a total value of $114,018.40. Following the completion of the transaction, the senior vice president now owns 38,075 shares in the company, valued at $1,093,514. The disclosure for this sale can be found here. In the last three months, insiders have sold 21,150 shares of company stock worth $602,170. Company insiders own 6.40% of the company’s stock.

Hedge Funds Weigh In On Pacira BioSciences

Several hedge funds have recently added to or reduced their stakes in the stock. ICA Group Wealth Management LLC bought a new stake in shares of Pacira BioSciences in the 4th quarter valued at about $30,000. GAMMA Investing LLC increased its stake in Pacira BioSciences by 229.6% in the second quarter. GAMMA Investing LLC now owns 1,338 shares of the company’s stock valued at $38,000 after purchasing an additional 932 shares in the last quarter. Park Place Capital Corp acquired a new stake in Pacira BioSciences in the second quarter worth $46,000. Quadrant Capital Group LLC boosted its position in shares of 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 purchasing an additional 885 shares in the last quarter. Finally, Natixis acquired a new position in shares of Pacira BioSciences in the 1st quarter valued at $95,000. Institutional investors and hedge funds own 99.73% of the company’s stock.

About Pacira BioSciences

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.