Pacira BioSciences (NASDAQ:PCRX) Stock Rating Reaffirmed by Needham & Company LLC

Needham & Company LLC reaffirmed their buy rating on shares of Pacira BioSciences (NASDAQ:PCRX) in a research note issued to investors on Wednesday morning, Benzinga reports. They currently have a $43.00 target price on the stock.

Other research analysts have also issued research reports about the company. Truist Financial dropped their target price on Pacira BioSciences from $45.00 to $30.00 and set a buy rating for the company in a research report on Thursday, July 25th. Barclays downgraded shares of Pacira BioSciences from an overweight rating to an equal weight rating and reduced their price objective for the stock from $38.00 to $25.00 in a research note on Wednesday, July 3rd. Piper Sandler reissued an overweight rating and issued a $42.00 price objective on shares of Pacira BioSciences in a research note on Wednesday, July 3rd. Finally, HC Wainwright reaffirmed a buy rating and set a $57.00 price target on shares of Pacira BioSciences in a research report on Tuesday, July 2nd. One equities research analyst has rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of Buy and an average price target of $41.44.

Pacira BioSciences Trading Up 2.5 %

Shares of PCRX stock opened at $21.26 on Wednesday. The stock’s 50-day moving average price is $25.03 and its 200-day moving average price is $27.83. The company has a current ratio of 6.82, a quick ratio of 4.78 and a debt-to-equity ratio of 0.67. Pacira BioSciences has a 12-month low of $19.34 and a 12-month high of $40.16. The stock has a market capitalization of $980.72 million, a price-to-earnings ratio of 14.87 and a beta of 0.88.

Pacira BioSciences (NASDAQ:PCRX) last issued its quarterly earnings data on Tuesday, May 7th. The company reported $0.42 earnings per share for the quarter, missing the consensus estimate of $0.46 by ($0.04). Pacira BioSciences had a return on equity of 13.22% and a net margin of 9.21%. The company had revenue of $167.12 million for the quarter, compared to the consensus estimate of $165.43 million. Equities research analysts predict that Pacira BioSciences will post 2.13 EPS for the current fiscal year.

Insider Buying and Selling at Pacira BioSciences

In other Pacira BioSciences news, SVP Lauren Riker sold 3,970 shares of the business’s stock in a transaction on Wednesday, June 12th. The shares were 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Pacira BioSciences news, SVP Lauren Riker sold 3,970 shares of the company’s stock in a transaction on Wednesday, June 12th. The shares were 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jonathan Slonin sold 2,836 shares of the company’s stock in a transaction on Tuesday, July 2nd. The shares were sold at an average price of $28.25, for a total transaction of $80,117.00. Following the completion of the transaction, the insider now owns 95,557 shares of the company’s stock, valued at approximately $2,699,485.25. The disclosure for this sale can be found here. Insiders have sold a total of 22,095 shares of company stock valued at $621,118 over the last quarter. 6.40% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its position in shares of Pacira BioSciences by 0.3% in the first quarter. Vanguard Group Inc. now owns 5,113,384 shares of the company’s stock valued at $149,413,000 after purchasing an additional 14,960 shares during the last quarter. Frontier Capital Management Co. LLC raised its stake in Pacira BioSciences by 15.8% during the fourth quarter. Frontier Capital Management Co. LLC now owns 2,084,542 shares of the company’s stock worth $70,332,000 after purchasing an additional 285,045 shares during the period. Dimensional Fund Advisors LP raised its stake in Pacira BioSciences by 1.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,411,767 shares of the company’s stock worth $47,633,000 after purchasing an additional 17,949 shares during the period. Vestal Point Capital LP purchased a new position in shares of Pacira BioSciences in the 4th quarter valued at $40,488,000. Finally, Clearbridge Investments LLC raised its stake in shares of Pacira BioSciences by 2.3% in the 1st quarter. Clearbridge Investments LLC now owns 1,172,150 shares of the company’s stock valued at $34,250,000 after acquiring an additional 26,463 shares during the period. 99.73% of the stock is currently owned by institutional investors and hedge funds.

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.