Pacira BioSciences (NASDAQ:PCRX) Receives “Buy” Rating from HC Wainwright

HC Wainwright reissued their buy rating on shares of Pacira BioSciences (NASDAQ:PCRX) in a report published on Tuesday morning, Benzinga reports. HC Wainwright currently has a $57.00 price objective on the stock.

A number of other brokerages have also weighed in on PCRX. Barclays lowered their target price on Pacira BioSciences from $40.00 to $38.00 and set an overweight rating on the stock in a research note on Wednesday, May 8th. Needham & Company LLC reiterated a buy rating and set a $43.00 price objective on shares of Pacira BioSciences in a research report on Tuesday. Finally, JPMorgan Chase & Co. began coverage on shares of Pacira BioSciences in a research report on Thursday, March 7th. They issued an overweight rating and a $45.00 target price for the company. Eleven research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Pacira BioSciences currently has a consensus rating of Buy and a consensus target price of $47.40.

Pacira BioSciences Price Performance

Shares of PCRX opened at $22.74 on Tuesday. The company’s 50-day moving average is $28.69 and its 200-day moving average is $29.78. The company has a debt-to-equity ratio of 0.57, a current ratio of 5.81 and a quick ratio of 4.78. The firm has a market capitalization of $1.06 billion, a PE ratio of 15.90 and a beta of 0.88. Pacira BioSciences has a fifty-two week low of $20.52 and a fifty-two week high of $40.45.

Pacira BioSciences (NASDAQ:PCRX) last announced 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). 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%. Equities analysts forecast that Pacira BioSciences will post 2.13 EPS for the current year.

Insider Buying and Selling

In other Pacira BioSciences news, insider Kristen Williams sold 7,452 shares of the stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $28.38, for a total transaction of $211,487.76. Following the sale, the insider now directly owns 102,912 shares in the company, valued at $2,920,642.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Pacira BioSciences news, insider Kristen Williams sold 7,452 shares of the company’s stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $28.38, for a total transaction of $211,487.76. Following the completion of the sale, the insider now directly owns 102,912 shares in the company, valued at $2,920,642.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Daryl Gaugler sold 1,000 shares of Pacira BioSciences stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $28.38, for a total value of $28,380.00. Following the completion of the transaction, the chief operating officer now owns 116,040 shares in the company, valued at approximately $3,293,215.20. The disclosure for this sale can be found here. Insiders sold 18,314 shares of company stock valued at $522,053 over the last quarter. 6.40% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. ICA Group Wealth Management LLC bought a new stake in shares of Pacira BioSciences during the 4th quarter valued at approximately $30,000. GAMMA Investing LLC boosted its position in Pacira BioSciences by 229.6% in the second quarter. GAMMA Investing LLC now owns 1,338 shares of the company’s stock valued at $38,000 after buying an additional 932 shares in the last quarter. Park Place Capital Corp acquired a new stake in Pacira BioSciences in the second quarter valued at approximately $46,000. Quadrant Capital Group LLC grew its stake in shares of Pacira BioSciences by 61.5% during the fourth quarter. Quadrant Capital Group LLC now owns 2,324 shares of the company’s stock worth $78,000 after buying an additional 885 shares during the last quarter. Finally, Natixis acquired a new position in shares of Pacira BioSciences during the first quarter worth $95,000. 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.