Pacira BioSciences, Inc. (NASDAQ:PCRX) Given Average Rating of “Buy” by Brokerages

Shares of Pacira BioSciences, Inc. (NASDAQ:PCRX) have received a consensus recommendation of “Buy” from the ten research firms that are presently covering the stock, Marketbeat Ratings reports. Ten research analysts have rated the stock with a buy recommendation. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $49.50.

A number of brokerages have issued reports on PCRX. Needham & Company LLC reaffirmed a “buy” rating and set a $45.00 target price on shares of Pacira BioSciences in a research report on Tuesday, April 9th. HC Wainwright reaffirmed a “buy” rating and set a $57.00 price objective on shares of Pacira BioSciences in a report on Monday, March 4th. JPMorgan Chase & Co. initiated coverage on shares of Pacira BioSciences in a report on Thursday, March 7th. They issued an “overweight” rating and a $45.00 target price on the stock. Wedbush restated an “outperform” rating and set a $57.00 price target on shares of Pacira BioSciences in a report on Thursday, February 8th. Finally, Royal Bank of Canada lowered their price target on Pacira BioSciences from $53.00 to $45.00 and set an “outperform” rating on the stock in a research report on Friday, March 1st.

Pacira BioSciences Trading Down 1.5 %

Shares of NASDAQ:PCRX opened at $25.50 on Friday. The company has a current ratio of 5.24, a quick ratio of 4.17 and a debt-to-equity ratio of 0.59. The stock has a market capitalization of $1.19 billion, a PE ratio of 31.48 and a beta of 0.76. Pacira BioSciences has a 1 year low of $25.33 and a 1 year high of $48.60. The firm has a fifty day moving average price of $28.76 and a 200 day moving average price of $29.68.

Pacira BioSciences (NASDAQ:PCRX) last announced its quarterly earnings results on Thursday, February 29th. The company reported $0.71 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.71. The company had revenue of $181.24 million during the quarter, compared to analysts’ expectations of $180.60 million. Pacira BioSciences had a return on equity of 12.81% and a net margin of 6.22%. Analysts expect that Pacira BioSciences will post 2.18 EPS for the current fiscal year.

Insider Buying and Selling at Pacira BioSciences

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

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of PCRX. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its holdings in Pacira BioSciences by 9.4% during the 3rd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 5,103 shares of the company’s stock worth $157,000 after acquiring an additional 438 shares during the period. 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 worth $36,000 after purchasing an additional 583 shares during the period. J.P. Morgan Private Wealth Advisors LLC increased its holdings in 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 valued at $343,000 after purchasing an additional 590 shares during the last quarter. Illinois Municipal Retirement Fund grew its position in shares of Pacira BioSciences by 2.2% during the 4th quarter. Illinois Municipal Retirement Fund now owns 26,964 shares of the company’s stock worth $910,000 after buying an additional 591 shares during the period. Finally, Teacher Retirement System of Texas increased its stake in shares of Pacira BioSciences by 4.8% in the 3rd quarter. Teacher Retirement System of Texas now owns 13,064 shares of the company’s stock valued at $401,000 after acquiring an additional 597 shares during the last quarter. Institutional investors and hedge funds 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.