Pacira BioSciences’ (PCRX) Buy Rating Reaffirmed at HC Wainwright

HC Wainwright reissued their buy rating on shares of Pacira BioSciences (NASDAQ:PCRX) in a research note published on Wednesday, Benzinga reports. They currently have a $57.00 price target on the stock.

Several other research analysts have also recently issued reports on PCRX. Barclays dropped their target price on shares of Pacira BioSciences from $40.00 to $38.00 and set an overweight rating on the stock in a report on Wednesday. TheStreet raised shares of Pacira BioSciences from a d+ rating to a c rating in a research note on Thursday, February 29th. Needham & Company LLC dropped their target price on Pacira BioSciences from $45.00 to $43.00 and set a buy rating on the stock in a research report on Wednesday. Wedbush reiterated an outperform rating and issued a $57.00 price target on shares of Pacira BioSciences in a report on Thursday, February 8th. Finally, Royal Bank of Canada decreased their price objective on Pacira BioSciences from $53.00 to $45.00 and set an outperform rating for the company in a research note on Friday, March 1st. Eleven equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has a consensus rating of Buy and a consensus target price of $47.40.

Pacira BioSciences Trading Up 0.7 %

Shares of Pacira BioSciences stock traded up $0.21 on Wednesday, hitting $29.86. 2,347,475 shares of the company traded hands, compared to its average volume of 527,815. 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 company has a market cap of $1.39 billion, a PE ratio of 36.60 and a beta of 0.77. The stock’s 50 day moving average price is $28.27 and its 200-day moving average price is $29.51. Pacira BioSciences has a 52 week low of $25.33 and a 52 week high of $43.50.

Pacira BioSciences (NASDAQ:PCRX) last issued its earnings results on Thursday, February 29th. The company reported $0.71 earnings per share for the quarter, hitting the consensus estimate of $0.71. Pacira BioSciences had a return on equity of 12.81% and a net margin of 6.22%. The business had revenue of $181.24 million during the quarter, compared to analysts’ expectations of $180.60 million. Equities research analysts predict that Pacira BioSciences will post 2.17 EPS for the current year.

Insider Activity at Pacira BioSciences

In other Pacira BioSciences news, Director Gary W. Pace sold 90,000 shares of Pacira BioSciences stock in a transaction that occurred on 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 directly owns 22,127 shares in the company, valued at approximately $677,086.20. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, Director Gary W. Pace sold 1,066 shares of the business’s stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $29.67, for a total value of $31,628.22. Following the completion of the sale, the director now owns 140,384 shares of the company’s stock, valued at approximately $4,165,193.28. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Gary W. Pace sold 90,000 shares of Pacira BioSciences stock in a transaction that occurred 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 completion of the sale, the director now directly owns 22,127 shares in the company, valued at $677,086.20. The disclosure for this sale can be found here. 6.60% of the stock is owned by insiders.

Institutional Investors Weigh In On Pacira BioSciences

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its stake in Pacira BioSciences by 2.9% during the fourth quarter. Vanguard Group Inc. now owns 5,098,424 shares of the company’s stock worth $172,021,000 after purchasing an additional 141,719 shares during the period. Frontier Capital Management Co. LLC lifted its position in Pacira BioSciences by 15.8% in the fourth quarter. Frontier Capital Management Co. LLC now owns 2,084,542 shares of the company’s stock valued at $70,332,000 after buying an additional 285,045 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Pacira BioSciences by 1.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,411,767 shares of the company’s stock worth $47,633,000 after buying an additional 17,949 shares during the period. Vestal Point Capital LP acquired a new stake in shares of Pacira BioSciences during the fourth quarter valued at about $40,488,000. Finally, Rock Springs Capital Management LP boosted its position in shares of Pacira BioSciences by 2.0% during the 3rd quarter. Rock Springs Capital Management LP now owns 1,055,500 shares of the company’s stock worth $32,383,000 after purchasing an additional 20,500 shares during the period. Institutional investors and hedge funds 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.