Pacira BioSciences (NASDAQ:PCRX) Stock Rating Reaffirmed by Piper Sandler

Pacira BioSciences (NASDAQ:PCRX)‘s stock had its “overweight” rating reaffirmed by research analysts at Piper Sandler in a report issued on Wednesday, Benzinga reports. They presently have a $42.00 target price on the stock. Piper Sandler’s price objective would indicate a potential upside of 94.53% from the stock’s current price.

PCRX has been the subject of several other reports. Barclays cut shares of Pacira BioSciences from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $38.00 to $25.00 in a report on Wednesday. JPMorgan Chase & Co. began coverage on shares of Pacira BioSciences in a research report on Thursday, March 7th. They issued an “overweight” rating and a $45.00 target price on the stock. Needham & Company LLC restated a “buy” rating and set a $43.00 price target on shares of Pacira BioSciences in a report on Tuesday. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $57.00 price objective on shares of Pacira BioSciences in a research note on Tuesday. One analyst has rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $46.10.

Pacira BioSciences Stock Down 5.1 %

PCRX stock traded down $1.15 during mid-day trading on Wednesday, hitting $21.59. 851,808 shares of the company were exchanged, compared to its average volume of 703,845. The firm has a fifty day simple moving average of $28.69 and a 200 day simple moving average of $29.78. The company has a market capitalization of $1.01 billion, a PE ratio of 14.98 and a beta of 0.88. Pacira BioSciences has a twelve month low of $20.52 and a twelve month high of $40.16. The company has a current ratio of 5.81, a quick ratio of 4.78 and a debt-to-equity ratio of 0.57.

Pacira BioSciences (NASDAQ:PCRX) last released 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 12.98% and a net margin of 10.34%. The firm had revenue of $167.12 million for the quarter, compared to the consensus estimate of $165.43 million. On average, research analysts forecast that Pacira BioSciences will post 2.13 earnings per share for the current fiscal year.

Insider Activity

In other news, COO Daryl Gaugler sold 1,000 shares of Pacira BioSciences stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $28.38, for a total value of $28,380.00. Following the transaction, the chief operating officer now directly owns 116,040 shares in the company, valued at $3,293,215.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Pacira BioSciences news, COO Daryl Gaugler sold 1,000 shares of the firm’s stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $28.38, for a total value of $28,380.00. Following the sale, the chief operating officer now directly owns 116,040 shares in the company, valued at approximately $3,293,215.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Kristen Williams sold 7,452 shares of the firm’s stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $28.38, for a total transaction of $211,487.76. Following the transaction, the insider now owns 102,912 shares of the company’s stock, valued at approximately $2,920,642.56. The disclosure for this sale can be found here. In the last quarter, insiders have sold 18,314 shares of company stock valued at $522,053. Insiders own 6.40% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in PCRX. Hsbc Holdings PLC raised its stake in shares of Pacira BioSciences by 40.5% in the third quarter. Hsbc Holdings PLC now owns 9,866 shares of the company’s stock worth $303,000 after acquiring an additional 2,846 shares during the last quarter. Trexquant Investment LP acquired a new stake in shares of Pacira BioSciences during the third quarter worth about $486,000. Gotham Asset Management LLC lifted its stake in Pacira BioSciences by 16.8% in the third quarter. Gotham Asset Management LLC now owns 22,317 shares of the company’s stock valued at $685,000 after buying an additional 3,203 shares in the last quarter. Rubric Capital Management LP acquired a new position in shares of Pacira BioSciences in the third quarter valued at approximately $14,102,000. Finally, Graham Capital Management L.P. acquired a new position in shares of Pacira BioSciences in the third quarter valued at approximately $247,000. 99.73% of the stock is owned by 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.