Pacira BioSciences (NASDAQ:PCRX) Upgraded to “Strong-Buy” at StockNews.com

Pacira BioSciences (NASDAQ:PCRX) was upgraded by stock analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a research report issued to clients and investors on Thursday.

Several other equities research analysts have also recently weighed in on PCRX. Needham & Company LLC reiterated a “buy” rating and issued a $43.00 target price on shares of Pacira BioSciences in a report on Wednesday. HC Wainwright reaffirmed a “buy” rating and issued a $57.00 price objective on shares of Pacira BioSciences in a research note on Tuesday, July 2nd. Barclays downgraded shares of Pacira BioSciences from an “overweight” rating to an “equal weight” rating and cut their target price for the company from $38.00 to $25.00 in a research report on Wednesday, July 3rd. Truist Financial lowered their price target on shares of Pacira BioSciences from $45.00 to $30.00 and set a “buy” rating for the company in a research report on Thursday, July 25th. Finally, Piper Sandler reissued an “overweight” rating and set a $42.00 price objective on shares of Pacira BioSciences in a report on Wednesday, July 3rd. One equities research analyst has rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Pacira BioSciences currently has a consensus rating of “Buy” and a consensus target price of $42.30.

Pacira BioSciences Trading Up 0.5 %

PCRX stock traded up $0.10 during trading on Thursday, hitting $20.75. The company had a trading volume of 743,092 shares, compared to its average volume of 767,282. Pacira BioSciences has a 52-week low of $19.34 and a 52-week high of $40.16. The company has a 50 day simple moving average of $25.19 and a 200-day simple moving average of $27.93. The firm has a market capitalization of $965.91 million, a P/E ratio of 14.51 and a beta of 0.88. 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 (NASDAQ:PCRX) last issued its earnings results on Tuesday, May 7th. The company reported $0.42 EPS for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.04). Pacira BioSciences had a return on equity of 13.27% and a net margin of 9.21%. The company had revenue of $167.12 million for the quarter, compared to analysts’ expectations of $165.43 million. As a group, research analysts forecast that Pacira BioSciences will post 2.13 earnings per share for the current fiscal year.

Insider Activity

In related news, COO Daryl Gaugler sold 1,000 shares of the business’s stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $28.38, for a total transaction of $28,380.00. Following the transaction, the chief operating officer now directly owns 116,040 shares in the company, valued at approximately $3,293,215.20. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other Pacira BioSciences news, SVP Lauren Riker sold 3,970 shares of the firm’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 of the company’s stock, valued at $1,093,514. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, COO Daryl Gaugler sold 1,000 shares of Pacira BioSciences stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $28.38, for a total transaction of $28,380.00. Following the sale, the chief operating officer now owns 116,040 shares of the company’s stock, valued at $3,293,215.20. The disclosure for this sale can be found here. In the last quarter, insiders sold 21,150 shares of company stock worth $602,170. Insiders own 6.40% of the company’s stock.

Hedge Funds Weigh In On Pacira BioSciences

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PCRX. ICA Group Wealth Management LLC purchased a new stake in Pacira BioSciences during the 4th quarter valued at about $30,000. GAMMA Investing LLC raised its stake in shares of Pacira BioSciences by 229.6% in the second 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 last quarter. Park Place Capital Corp acquired a new stake in shares of Pacira BioSciences during the second quarter worth about $46,000. Innealta Capital LLC purchased a new stake in Pacira BioSciences in the second quarter valued at approximately $50,000. Finally, nVerses Capital LLC boosted its position in Pacira BioSciences by 800.0% in the second quarter. nVerses Capital LLC now owns 1,800 shares of the company’s stock valued at $51,000 after buying an additional 1,600 shares during the last quarter. Hedge funds and other institutional investors 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.