Pacira BioSciences, Inc. (NASDAQ:PCRX) Receives $47.40 Average Price Target from Brokerages

Shares of Pacira BioSciences, Inc. (NASDAQ:PCRX) have been assigned a consensus rating of “Moderate Buy” from the ten brokerages that are presently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a hold recommendation and nine have given a buy recommendation to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $46.10.

Several equities analysts have issued reports on PCRX shares. Needham & Company LLC reaffirmed a “buy” rating and set a $43.00 price objective on shares of Pacira BioSciences in a report on Tuesday. Barclays lowered Pacira BioSciences from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $38.00 to $25.00 in a report on Wednesday. HC Wainwright reissued a “buy” rating and set a $57.00 price target on shares of Pacira BioSciences in a report on Tuesday. Finally, Piper Sandler reissued an “overweight” rating and set a $42.00 price target on shares of Pacira BioSciences in a report on Wednesday.

Insider Buying and Selling

In related news, COO Daryl Gaugler sold 1,000 shares of Pacira BioSciences stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $28.38, for a total transaction of $28,380.00. Following the completion of the transaction, the chief operating officer now directly owns 116,040 shares in the company, valued at approximately $3,293,215.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Pacira BioSciences news, COO Daryl Gaugler sold 1,000 shares of Pacira BioSciences stock in a transaction that occurred 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 sale, the chief operating officer now directly owns 116,040 shares of the company’s stock, valued at approximately $3,293,215.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 transaction of $143,192.84. Following the sale, the insider now directly owns 44,569 shares of the company’s stock, valued at $1,273,336.33. The disclosure for this sale can be found here. Insiders sold 21,150 shares of company stock worth $602,170 in the last ninety days. Insiders own 6.40% of the company’s stock.

Institutional Trading of Pacira BioSciences

Several institutional investors have recently made changes to their positions in PCRX. Vanguard Group Inc. boosted its position in Pacira BioSciences by 0.3% during the 1st quarter. Vanguard Group Inc. now owns 5,113,384 shares of the company’s stock worth $149,413,000 after purchasing an additional 14,960 shares during the period. Frontier Capital Management Co. LLC boosted its position in Pacira BioSciences by 15.8% during the 4th quarter. Frontier Capital Management Co. LLC now owns 2,084,542 shares of the company’s stock worth $70,332,000 after purchasing an additional 285,045 shares during the period. Dimensional Fund Advisors LP boosted its position in Pacira BioSciences by 1.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,411,767 shares of the company’s stock worth $47,633,000 after purchasing an additional 17,949 shares during the period. Vestal Point Capital LP purchased a new stake in Pacira BioSciences during the 4th quarter worth $40,488,000. Finally, Clearbridge Investments LLC boosted its position in Pacira BioSciences by 2.3% during the 1st quarter. Clearbridge Investments LLC now owns 1,172,150 shares of the company’s stock worth $34,250,000 after purchasing an additional 26,463 shares during the period. 99.73% of the stock is owned by hedge funds and other institutional investors.

Pacira BioSciences Stock Performance

Shares of PCRX stock opened at $21.06 on Wednesday. The stock’s 50-day moving average is $28.42 and its two-hundred day moving average is $29.60. The firm has a market cap of $980.26 million, a price-to-earnings ratio of 14.73 and a beta of 0.88. Pacira BioSciences has a 1 year low of $20.52 and a 1 year 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.

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

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.