Zacks Investment Research upgraded shares of Pacira Biosciences (NASDAQ:PCRX) from a sell rating to a hold rating in a research report report published on Friday, Zacks.com reports. Zacks Investment Research currently has $47.00 price objective on the stock.
According to Zacks, “Pacira changed its name to Pacira BioSciences following the acquisition of MyoScience in April 2019. Pacira’s top line mainly comprises contribution from its marketed drug Exparel. The company’s efforts to expand Exparel's label are encouraging. In April 2018, the FDA approved Exparel's label expansion to include administration via nerve block for prolonged regional analgesia. This is a positive for the company as it will further boost sales of Exparel. Pacira’s agreement with Nuance for the development/commercialization of Exparel in China is also an upside. Shares of the company have underperformed the industry year to date. The company remains heavily dependent on Exparel for growth, any setback for the drug will severely hurt the stock in the long run.”
A number of other equities research analysts also recently weighed in on the stock. BidaskClub raised shares of Pacira Biosciences from a strong sell rating to a sell rating in a research note on Wednesday. BMO Capital Markets set a $46.00 price target on shares of Pacira Biosciences and gave the stock a hold rating in a research note on Friday, May 3rd. Barclays started coverage on shares of Pacira Biosciences in a research note on Tuesday, June 11th. They set an overweight rating and a $52.00 price target on the stock. Stifel Nicolaus raised shares of Pacira Biosciences from a sell rating to a hold rating and set a $45.00 price target on the stock in a research note on Thursday, May 2nd. Finally, Wedbush set a $85.00 price target on shares of Pacira Biosciences and gave the stock a buy rating in a research note on Friday, June 28th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and eight have given a buy rating to the stock. The stock presently has a consensus rating of Hold and an average target price of $54.53.
PCRX traded down $0.26 on Friday, reaching $43.75. The company had a trading volume of 561,722 shares, compared to its average volume of 489,739. The business has a 50 day moving average of $42.74. The stock has a market capitalization of $1.81 billion, a P/E ratio of 150.86, a price-to-earnings-growth ratio of 2.50 and a beta of 1.15. The company has a debt-to-equity ratio of 0.99, a quick ratio of 7.83 and a current ratio of 8.62. Pacira Biosciences has a 52-week low of $35.07 and a 52-week high of $55.00.
Pacira Biosciences (NASDAQ:PCRX) last announced its earnings results on Thursday, May 2nd. The company reported $0.22 earnings per share for the quarter, beating analysts’ consensus estimates of $0.02 by $0.20. The business had revenue of $91.31 million for the quarter, compared to the consensus estimate of $92.13 million. Pacira Biosciences had a net margin of 2.10% and a return on equity of 6.78%. Pacira Biosciences’s quarterly revenue was up 22.4% on a year-over-year basis. During the same period last year, the firm posted $0.02 earnings per share. On average, equities analysts expect that Pacira Biosciences will post 0.76 EPS for the current fiscal year.
In other news, CFO Charles A. Reinhart III sold 1,106 shares of the firm’s stock in a transaction that occurred on Tuesday, June 4th. The shares were sold at an average price of $42.91, for a total value of $47,458.46. Following the transaction, the chief financial officer now owns 11,936 shares in the company, valued at $512,173.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Paul J. Hastings sold 782 shares of the firm’s stock in a transaction that occurred on Tuesday, June 4th. The stock was sold at an average price of $42.66, for a total transaction of $33,360.12. Following the completion of the transaction, the director now owns 2,747 shares in the company, valued at approximately $117,187.02. The disclosure for this sale can be found here. Insiders sold 57,990 shares of company stock worth $2,497,045 in the last 90 days. Company insiders own 5.80% of the company’s stock.
Several institutional investors have recently modified their holdings of the company. Frontier Capital Management Co. LLC bought a new position in shares of Pacira Biosciences in the first quarter worth approximately $52,509,000. Stephens Investment Management Group LLC boosted its holdings in Pacira Biosciences by 0.9% in the second quarter. Stephens Investment Management Group LLC now owns 1,210,605 shares of the company’s stock valued at $52,649,000 after acquiring an additional 10,868 shares in the last quarter. Baillie Gifford & Co. boosted its holdings in Pacira Biosciences by 6.1% in the first quarter. Baillie Gifford & Co. now owns 990,908 shares of the company’s stock valued at $37,715,000 after acquiring an additional 57,367 shares in the last quarter. Elk Creek Partners LLC boosted its holdings in Pacira Biosciences by 5.3% in the first quarter. Elk Creek Partners LLC now owns 564,576 shares of the company’s stock valued at $21,488,000 after acquiring an additional 28,382 shares in the last quarter. Finally, Geode Capital Management LLC boosted its holdings in Pacira Biosciences by 7.4% in the fourth quarter. Geode Capital Management LLC now owns 516,774 shares of the company’s stock valued at $22,231,000 after acquiring an additional 35,635 shares in the last quarter. Hedge funds and other institutional investors own 99.34% of the company’s stock.
Pacira Biosciences Company Profile
Pacira BioSciences, Inc provides non-opioid pain management and regenerative health solutions for health care practitioners and their patients in the United States. The company develops products based on its proprietary DepoFoam product delivery technology that encapsulates drugs without altering their molecular structure.
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