Pacira BioSciences (NASDAQ:PCRX) Lifted to “Strong-Buy” at StockNews.com

Pacira BioSciences (NASDAQ:PCRX) was upgraded by equities research analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a research report issued on Thursday.

PCRX has been the topic of several other research reports. Truist Financial lowered their price target on Pacira BioSciences from $45.00 to $30.00 and set a “buy” rating on the stock in a report on Thursday, July 25th. Needham & Company LLC reaffirmed a “buy” rating and issued a $43.00 target price on shares of Pacira BioSciences in a research note on Wednesday. Royal Bank of Canada cut their price target on shares of Pacira BioSciences from $42.00 to $37.00 and set an “outperform” rating for the company in a research note on Wednesday. Raymond James lowered their price objective on shares of Pacira BioSciences from $41.00 to $37.00 and set an “outperform” rating on the stock in a research report on Wednesday. Finally, Barclays lowered shares of Pacira BioSciences from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $38.00 to $25.00 in a research report on Wednesday, July 3rd. One analyst has rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Buy” and an average price target of $42.30.

Pacira BioSciences Price Performance

NASDAQ:PCRX traded up $0.10 during mid-day trading on Thursday, hitting $20.75. 743,092 shares of the stock traded hands, compared to its average volume of 767,282. Pacira BioSciences has a 12-month low of $19.34 and a 12-month high of $40.16. The company has a quick ratio of 4.78, a current ratio of 5.81 and a debt-to-equity ratio of 0.57. The company has a market cap of $965.91 million, a PE ratio of 14.51 and a beta of 0.88. The business’s 50-day moving average price is $25.19 and its 200 day moving average price is $27.93.

Pacira BioSciences (NASDAQ:PCRX) last released its quarterly 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 net margin of 9.21% and a return on equity of 13.27%. The firm had revenue of $167.12 million for the quarter, compared to analysts’ expectations of $165.43 million. On average, analysts expect that Pacira BioSciences will post 2.13 EPS for the current fiscal year.

Insiders Place Their Bets

In other Pacira BioSciences news, insider Jonathan Slonin sold 5,012 shares of the stock in a transaction on Tuesday, June 11th. The shares were sold at an average price of $28.57, for a total transaction of $143,192.84. Following the completion of the sale, the insider now owns 44,569 shares of the company’s stock, valued at approximately $1,273,336.33. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Pacira BioSciences news, insider Jonathan Slonin sold 5,012 shares of the stock in a transaction that occurred on Tuesday, June 11th. The stock was 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 owns 44,569 shares in the company, valued at approximately $1,273,336.33. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Lauren Riker sold 3,970 shares of Pacira BioSciences stock in a transaction that occurred on 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 sale, the senior vice president now owns 38,075 shares in the company, valued at $1,093,514. The disclosure for this sale can be found here. Insiders have sold 21,150 shares of company stock valued at $602,170 in the last ninety days. Company insiders own 6.40% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. ICA Group Wealth Management LLC purchased a new position in shares of Pacira BioSciences during the fourth quarter valued at about $30,000. GAMMA Investing LLC boosted its position in Pacira BioSciences by 229.6% during the 2nd quarter. GAMMA Investing LLC now owns 1,338 shares of the company’s stock valued at $38,000 after acquiring an additional 932 shares in the last quarter. Park Place Capital Corp purchased a new position in shares of Pacira BioSciences during the 2nd quarter worth approximately $46,000. Innealta Capital LLC bought a new position in shares of Pacira BioSciences in the 2nd quarter worth approximately $50,000. Finally, nVerses Capital LLC lifted its stake in shares of Pacira BioSciences by 800.0% in the 2nd quarter. nVerses Capital LLC now owns 1,800 shares of the company’s stock valued at $51,000 after purchasing an additional 1,600 shares during the period. 99.73% of the stock is currently owned by institutional investors.

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.