Pacira BioSciences, Inc. (NASDAQ:PCRX) Receives $24.78 Consensus PT from Brokerages

Pacira BioSciences, Inc. (NASDAQ:PCRX - Get Free Report) has earned an average rating of "Hold" from the nine analysts that are currently covering the company, MarketBeat reports. Two analysts have rated the stock with a sell recommendation, four have issued a hold recommendation and three have issued a buy recommendation on the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $24.78.

PCRX has been the subject of several recent research reports. Royal Bank of Canada downgraded shares of Pacira BioSciences from an "outperform" rating to a "sector perform" rating and reduced their target price for the stock from $37.00 to $14.00 in a research note on Monday, August 12th. HC Wainwright reduced their price objective on shares of Pacira BioSciences from $57.00 to $39.00 and set a "buy" rating for the company in a research note on Monday, August 12th. Needham & Company LLC lowered their target price on shares of Pacira BioSciences from $43.00 to $22.00 and set a "buy" rating on the stock in a report on Monday, August 12th. JPMorgan Chase & Co. reaffirmed an "underweight" rating and issued a $10.00 price target (down from $45.00) on shares of Pacira BioSciences in a report on Monday, August 12th. Finally, Raymond James lowered Pacira BioSciences from an "outperform" rating to a "market perform" rating in a research note on Monday, August 12th.

Insider Buying and Selling

In other Pacira BioSciences news, CEO Frank D. Lee bought 8,264 shares of Pacira BioSciences stock in a transaction dated Monday, August 12th. The shares were purchased at an average cost of $12.10 per share, with a total value of $99,994.40. Following the completion of the purchase, the chief executive officer now owns 107,784 shares of the company's stock, valued at $1,304,186.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, insider Jonathan Slonin sold 2,836 shares of the stock in a transaction dated Tuesday, July 2nd. The shares were sold at an average price of $28.25, for a total value of $80,117.00. Following the completion of the transaction, the insider now directly owns 95,557 shares in the company, valued at approximately $2,699,485.25. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Frank D. Lee bought 8,264 shares of the firm's stock in a transaction on Monday, August 12th. The shares were acquired at an average cost of $12.10 per share, with a total value of $99,994.40. Following the purchase, the chief executive officer now directly owns 107,784 shares of the company's stock, valued at approximately $1,304,186.40. The disclosure for this purchase can be found here. Over the last ninety days, insiders have acquired 11,176 shares of company stock valued at $136,240 and have sold 4,281 shares valued at $105,494. 6.40% of the stock is owned by insiders.

Institutional Investors Weigh In On Pacira BioSciences

A number of institutional investors have recently modified their holdings of PCRX. Brown Financial Advisors bought a new position in shares of Pacira BioSciences in the second quarter worth approximately $295,000. Truist Financial Corp bought a new position in Pacira BioSciences in the 2nd quarter valued at approximately $423,000. The Manufacturers Life Insurance Company lifted its position in Pacira BioSciences by 6.0% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 23,932 shares of the company's stock valued at $685,000 after acquiring an additional 1,354 shares in the last quarter. Deerfield Management Company L.P. Series C purchased a new stake in Pacira BioSciences during the 2nd quarter valued at $488,000. Finally, Doma Perpetual Capital Management LLC increased its holdings in shares of Pacira BioSciences by 71.8% in the 2nd quarter. Doma Perpetual Capital Management LLC now owns 1,000,761 shares of the company's stock worth $28,632,000 after purchasing an additional 418,321 shares in the last quarter. 99.73% of the stock is owned by hedge funds and other institutional investors.

Pacira BioSciences Stock Performance

PCRX stock traded up $0.38 during midday trading on Monday, hitting $13.49. The company's stock had a trading volume of 1,970,857 shares, compared to its average volume of 974,889. The stock has a market cap of $622.29 million, a price-to-earnings ratio of 9.43 and a beta of 0.84. The company has a quick ratio of 5.70, a current ratio of 6.82 and a debt-to-equity ratio of 0.67. The stock's 50-day moving average price is $17.01 and its 200 day moving average price is $24.37. Pacira BioSciences has a 1 year low of $11.16 and a 1 year high of $35.95.

Pacira BioSciences (NASDAQ:PCRX - Get Free Report) last issued its quarterly earnings results on Tuesday, July 30th. The company reported $0.64 earnings per share for the quarter, topping analysts' consensus estimates of $0.53 by $0.11. The company had revenue of $178.02 million for the quarter, compared to the consensus estimate of $173.31 million. Pacira BioSciences had a net margin of 9.21% and a return on equity of 13.22%. On average, equities analysts forecast that Pacira BioSciences will post 2.24 EPS 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.