Pacira BioSciences’ (PCRX) Overweight Rating Reaffirmed at Piper Sandler

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

Other equities research analysts also recently issued reports about the stock. HC Wainwright reaffirmed a “buy” rating and issued a $57.00 price target on shares of Pacira BioSciences in a research note on Tuesday. JPMorgan Chase & Co. initiated coverage on Pacira BioSciences in a report on Thursday, March 7th. They issued an “overweight” rating and a $45.00 price target on the stock. Barclays downgraded 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. Finally, Needham & Company LLC restated a “buy” rating and issued a $43.00 target price on shares of Pacira BioSciences in a report on Tuesday. One investment analyst has rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $46.10.

Pacira BioSciences Trading Down 5.1 %

Shares of NASDAQ:PCRX traded down $1.15 during midday trading on Wednesday, hitting $21.59. 851,808 shares of the stock were exchanged, compared to its average volume of 703,845. The business’s 50-day moving average price is $28.69 and its 200 day moving average price is $29.78. Pacira BioSciences has a 12 month low of $20.52 and a 12 month high of $40.16. The company has a debt-to-equity ratio of 0.57, a quick ratio of 4.78 and a current ratio of 5.81. The stock has a market capitalization of $1.01 billion, a price-to-earnings ratio of 14.98 and a beta of 0.88.

Pacira BioSciences (NASDAQ:PCRX) last issued its quarterly earnings results on Tuesday, May 7th. The company reported $0.42 earnings per share for the quarter, missing the consensus estimate of $0.46 by ($0.04). The company had revenue of $167.12 million during the quarter, compared to analyst estimates of $165.43 million. Pacira BioSciences had a net margin of 10.34% and a return on equity of 12.98%. Analysts predict that Pacira BioSciences will post 2.13 earnings per share for the current year.

Insider Buying and Selling at Pacira BioSciences

In other news, SVP Lauren Riker sold 3,970 shares of the company’s stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $28.72, for a total value of $114,018.40. Following the completion of the transaction, the senior vice president now directly owns 38,075 shares in the company, valued at approximately $1,093,514. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Pacira BioSciences news, insider Jonathan Slonin sold 5,012 shares of the business’s stock in a transaction on Tuesday, June 11th. The shares were sold at an average price of $28.57, for a total value of $143,192.84. Following the completion of the sale, the insider now directly owns 44,569 shares of the company’s stock, valued at $1,273,336.33. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Lauren Riker sold 3,970 shares of the company’s stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $28.72, for a total transaction of $114,018.40. Following the sale, the senior vice president now owns 38,075 shares of the company’s stock, valued at $1,093,514. The disclosure for this sale can be found here. Insiders sold a total of 18,314 shares of company stock worth $522,053 over the last three months. 6.40% of the stock is owned by insiders.

Institutional Investors Weigh In On Pacira BioSciences

Several institutional investors have recently added to or reduced their stakes in PCRX. Texas Permanent School Fund Corp increased its position in Pacira BioSciences by 1.4% during the 1st quarter. Texas Permanent School Fund Corp now owns 40,642 shares of the company’s stock valued at $1,188,000 after purchasing an additional 543 shares during the period. Illinois Municipal Retirement Fund raised its stake in Pacira BioSciences by 2.2% in the fourth quarter. Illinois Municipal Retirement Fund now owns 26,964 shares of the company’s stock worth $910,000 after buying an additional 591 shares in the last quarter. Duality Advisers LP lifted its holdings in Pacira BioSciences by 1.8% in the first quarter. Duality Advisers LP now owns 34,784 shares of the company’s stock worth $1,016,000 after buying an additional 605 shares during the period. Inspire Investing LLC boosted its position in Pacira BioSciences by 5.9% during the 1st quarter. Inspire Investing LLC now owns 12,131 shares of the company’s stock valued at $354,000 after acquiring an additional 675 shares in the last quarter. Finally, Quadrant Capital Group LLC grew its holdings in shares of Pacira BioSciences by 61.5% during the 4th quarter. Quadrant Capital Group LLC now owns 2,324 shares of the company’s stock worth $78,000 after acquiring an additional 885 shares during the period. Hedge funds and other institutional investors own 99.73% of the company’s stock.

About Pacira BioSciences

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.