Pacira BioSciences (NASDAQ:PCRX) Research Coverage Started at Barclays

by · The Cerbat Gem

Barclays began coverage on shares of Pacira BioSciences (NASDAQ:PCRX – Free Report) in a research report released on Tuesday, MarketBeat.com reports. The brokerage issued an equal weight rating and a $27.00 target price on the stock.

Other research analysts have also recently issued research reports about the company. HC Wainwright reiterated a “buy” rating and issued a $38.00 price target on shares of Pacira BioSciences in a research note on Monday, November 17th. Truist Financial decreased their price target on Pacira BioSciences from $30.00 to $28.00 and set a “buy” rating for the company in a research note on Friday, November 7th. Weiss Ratings restated a “sell (d+)” rating on shares of Pacira BioSciences in a research note on Monday, December 1st. Zacks Research raised Pacira BioSciences from a “strong sell” rating to a “hold” rating in a report on Thursday, August 14th. Finally, Wall Street Zen upgraded Pacira BioSciences from a “buy” rating to a “strong-buy” rating in a research report on Saturday, November 8th. Three analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $28.20.

Check Out Our Latest Research Report on PCRX

Pacira BioSciences Stock Up 2.2%

Shares of NASDAQ PCRX opened at $25.73 on Tuesday. Pacira BioSciences has a 1 year low of $18.17 and a 1 year high of $27.64. The firm’s 50 day moving average price is $23.11 and its 200 day moving average price is $24.15. The company has a debt-to-equity ratio of 0.52, a quick ratio of 3.78 and a current ratio of 5.26. The firm has a market cap of $1.11 billion, a P/E ratio of 57.18 and a beta of 0.23.

Pacira BioSciences (NASDAQ:PCRX – Get Free Report) last issued its quarterly earnings results on Thursday, November 6th. The company reported $0.70 EPS for the quarter, topping the consensus estimate of $0.65 by $0.05. The firm had revenue of $179.52 million during the quarter, compared to analyst estimates of $182.86 million. Pacira BioSciences had a net margin of 2.99% and a return on equity of 12.82%. Pacira BioSciences’s revenue for the quarter was up 6.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.79 earnings per share. As a group, sell-side analysts anticipate that Pacira BioSciences will post 2.41 earnings per share for the current year.

Insider Activity at Pacira BioSciences

In related news, insider Jonathan Slonin sold 3,960 shares of Pacira BioSciences stock in a transaction dated Monday, November 17th. The shares were sold at an average price of $24.09, for a total transaction of $95,396.40. Following the sale, the insider directly owned 178,367 shares in the company, valued at $4,296,861.03. The trade was a 2.17% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Shawn Cross sold 9,104 shares of the company’s stock in a transaction dated Wednesday, December 10th. The stock was sold at an average price of $25.14, for a total transaction of $228,874.56. Following the completion of the sale, the chief financial officer directly owned 56,250 shares of the company’s stock, valued at $1,414,125. The trade was a 13.93% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 32,920 shares of company stock worth $817,544. 6.40% of the stock is owned by insiders.

Institutional Trading of Pacira BioSciences

A number of hedge funds and other institutional investors have recently made changes to their positions in PCRX. Alyeska Investment Group L.P. acquired a new position in shares of Pacira BioSciences during the first quarter valued at approximately $32,506,000. Doma Perpetual Capital Management LLC boosted its stake in Pacira BioSciences by 49.7% during the 3rd quarter. Doma Perpetual Capital Management LLC now owns 2,701,324 shares of the company’s stock valued at $69,613,000 after purchasing an additional 897,255 shares in the last quarter. Balyasny Asset Management L.P. increased its position in shares of Pacira BioSciences by 36.1% during the 2nd quarter. Balyasny Asset Management L.P. now owns 2,130,733 shares of the company’s stock valued at $50,925,000 after purchasing an additional 565,288 shares during the period. American Century Companies Inc. lifted its holdings in shares of Pacira BioSciences by 392.2% in the first quarter. American Century Companies Inc. now owns 667,423 shares of the company’s stock valued at $16,585,000 after buying an additional 531,831 shares during the period. Finally, Nuveen LLC acquired a new stake in shares of Pacira BioSciences in the first quarter valued at $12,884,000. 99.73% of the stock is currently owned by institutional investors.

Pacira BioSciences Company Profile

(Get Free Report)

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.

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