Pacira BioSciences (NASDAQ:PCRX) Receives Buy Rating from HC Wainwright

HC Wainwright reiterated their buy rating on shares of Pacira BioSciences (NASDAQ:PCRX) in a research note published on Wednesday, Benzinga reports. HC Wainwright currently has a $57.00 price objective on the stock.

Other research analysts have also issued reports about the company. Needham & Company LLC lowered their price objective on Pacira BioSciences from $45.00 to $43.00 and set a buy rating for the company in a research report on Wednesday. Barclays reduced their target price on Pacira BioSciences from $40.00 to $38.00 and set an overweight rating for the company in a research note on Wednesday. Royal Bank of Canada decreased their price target on Pacira BioSciences from $53.00 to $45.00 and set an outperform rating for the company in a research report on Friday, March 1st. JPMorgan Chase & Co. started coverage on shares of Pacira BioSciences in a report on Thursday, March 7th. They issued an overweight rating and a $45.00 price target on the stock. Finally, Wedbush restated an outperform rating and set a $57.00 price target on shares of Pacira BioSciences in a research report on Thursday, February 8th. Eleven investment analysts have rated the stock with a buy rating, According to MarketBeat.com, Pacira BioSciences currently has a consensus rating of Buy and a consensus price target of $47.40.

Pacira BioSciences Price Performance

Shares of PCRX stock traded up $0.21 on Wednesday, hitting $29.86. 2,347,475 shares of the company’s stock were exchanged, compared to its average volume of 527,815. Pacira BioSciences has a 12 month low of $25.33 and a 12 month high of $43.50. The company has a debt-to-equity ratio of 0.59, a current ratio of 5.24 and a quick ratio of 4.17. The company has a 50 day moving average of $28.27 and a 200 day moving average of $29.51. The stock has a market cap of $1.39 billion, a P/E ratio of 36.60 and a beta of 0.77.

Pacira BioSciences (NASDAQ:PCRX) last posted its earnings results on Thursday, February 29th. The company reported $0.71 EPS for the quarter, hitting the consensus estimate of $0.71. The business had revenue of $181.24 million for the quarter, compared to the consensus estimate of $180.60 million. Pacira BioSciences had a net margin of 6.22% and a return on equity of 12.81%. On average, equities research analysts predict that Pacira BioSciences will post 2.17 EPS for the current year.

Insider Activity at Pacira BioSciences

In related news, Director Gary W. Pace sold 90,000 shares of Pacira BioSciences stock in a transaction on Friday, March 8th. The stock was sold at an average price of $30.60, for a total transaction of $2,754,000.00. Following the completion of the sale, the director now owns 22,127 shares of the company’s stock, valued at $677,086.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, Director Gary W. Pace sold 1,066 shares of Pacira BioSciences stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $29.67, for a total transaction of $31,628.22. Following the completion of the sale, the director now directly owns 140,384 shares of the company’s stock, valued at approximately $4,165,193.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Gary W. Pace sold 90,000 shares of the company’s stock in a transaction on Friday, March 8th. The stock was sold at an average price of $30.60, for a total transaction of $2,754,000.00. Following the completion of the transaction, the director now owns 22,127 shares of the company’s stock, valued at $677,086.20. The disclosure for this sale can be found here. 6.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Pacira BioSciences

Hedge funds and other institutional investors have recently modified their holdings of the company. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its stake in Pacira BioSciences by 9.4% in the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 5,103 shares of the company’s stock worth $157,000 after buying an additional 438 shares in the last quarter. Texas Permanent School Fund Corp lifted its stake in Pacira BioSciences by 1.4% in the first quarter. Texas Permanent School Fund Corp now owns 40,642 shares of the company’s stock worth $1,188,000 after purchasing an additional 543 shares during the last quarter. China Universal Asset Management Co. Ltd. grew its stake in shares of Pacira BioSciences by 96.8% during the third quarter. China Universal Asset Management Co. Ltd. now owns 1,185 shares of the company’s stock valued at $36,000 after buying an additional 583 shares during the last quarter. J.P. Morgan Private Wealth Advisors LLC increased its holdings in shares of Pacira BioSciences by 5.6% in the third quarter. J.P. Morgan Private Wealth Advisors LLC now owns 11,185 shares of the company’s stock worth $343,000 after buying an additional 590 shares during the period. Finally, Illinois Municipal Retirement Fund boosted its holdings in Pacira BioSciences by 2.2% during the 4th quarter. Illinois Municipal Retirement Fund now owns 26,964 shares of the company’s stock valued at $910,000 after acquiring an additional 591 shares during the period. 99.73% of the stock is currently owned by hedge funds and other institutional investors.

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.