Pacira BioSciences (NASDAQ:PCRX) Receives New Coverage from Analysts at StockNews.com

StockNews.com assumed coverage on shares of Pacira BioSciences (NASDAQ:PCRX – Get Rating) in a report issued on Thursday. The firm issued a hold rating on the stock.

A number of other research firms also recently weighed in on PCRX. Royal Bank of Canada dropped their price target on shares of Pacira BioSciences from $80.00 to $76.00 and set an outperform rating for the company in a research report on Wednesday, March 1st. Truist Financial dropped their price target on shares of Pacira BioSciences from $68.00 to $63.00 in a research report on Wednesday, January 18th. Cowen dropped their price target on shares of Pacira BioSciences from $54.00 to $50.00 in a research report on Wednesday, December 14th. BMO Capital Markets dropped their price target on shares of Pacira BioSciences from $60.00 to $52.00 and set a market perform rating for the company in a research report on Friday, January 6th. Finally, Barclays lowered their price objective on shares of Pacira BioSciences from $90.00 to $80.00 in a research report on Friday, March 3rd. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, Pacira BioSciences currently has an average rating of Moderate Buy and a consensus price target of $64.36.

Pacira BioSciences Trading Down 4.8 %

Pacira BioSciences stock opened at $39.49 on Thursday. Pacira BioSciences has a 52 week low of $35.35 and a 52 week high of $82.16. The company has a debt-to-equity ratio of 0.85, a quick ratio of 2.72 and a current ratio of 3.37. The stock has a market capitalization of $1.81 billion, a P/E ratio of 127.39 and a beta of 0.77. The stock has a 50-day simple moving average of $39.88 and a 200 day simple moving average of $46.00.

Pacira BioSciences (NASDAQ:PCRX – Get Rating) last posted its quarterly earnings results on Tuesday, February 28th. The company reported $0.60 EPS for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.11). The business had revenue of $171.96 million for the quarter, compared to the consensus estimate of $174.12 million. Pacira BioSciences had a return on equity of 11.09% and a net margin of 2.39%. Analysts expect that Pacira BioSciences will post 2.73 earnings per share for the current year.

Institutional Trading of Pacira BioSciences

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Teachers Retirement System of The State of Kentucky grew its stake in shares of Pacira BioSciences by 3.7% during the fourth quarter. Teachers Retirement System of The State of Kentucky now owns 31,574 shares of the company’s stock worth $1,219,000 after buying an additional 1,135 shares during the last quarter. Alliancebernstein L.P. grew its stake in shares of Pacira BioSciences by 160.4% during the fourth quarter. Alliancebernstein L.P. now owns 162,436 shares of the company’s stock worth $6,272,000 after buying an additional 100,049 shares during the last quarter. Point72 Middle East FZE bought a new stake in shares of Pacira BioSciences during the fourth quarter worth $449,000. Virtu Financial LLC bought a new stake in shares of Pacira BioSciences during the fourth quarter worth $351,000. Finally, State of Wisconsin Investment Board grew its stake in shares of Pacira BioSciences by 1.2% during the fourth quarter. State of Wisconsin Investment Board now owns 46,014 shares of the company’s stock worth $1,777,000 after buying an additional 545 shares during the last quarter.

Pacira BioSciences Company Profile

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Pacira Biosciences, Inc is a holding company, which engages in the provision of non-opioid pain management and regenerative health solutions to improve patients’ journeys along the neural pain pathway. Its products include EXPAREL, iovera, and DepoFoam. The company was founded in December 2006 and is headquartered in Tampa, FL.