Pacira Biosciences (NASDAQ:PCRX) Upgraded to Neutral at Mizuho

Mizuho upgraded shares of Pacira Biosciences (NASDAQ:PCRX) from an underperform rating to a neutral rating in a research note issued to investors on Monday, May 6th, BenzingaRatingsTable reports. The brokerage currently has $38.00 target price on the stock, up from their prior target price of $29.00.

Several other analysts have also recently issued reports on PCRX. Stifel Nicolaus reiterated a sell rating and issued a $33.00 target price on shares of Pacira Biosciences in a research note on Friday, March 8th. Wedbush set a $91.00 target price on shares of Pacira Biosciences and gave the stock a buy rating in a research note on Tuesday, January 29th. National Securities assumed coverage on shares of Pacira Biosciences in a research note on Tuesday, February 12th. They issued a sell rating on the stock. ValuEngine upgraded shares of Pacira Biosciences from a buy rating to a strong-buy rating in a research note on Saturday, February 2nd. Finally, Cowen reiterated a hold rating on shares of Pacira Biosciences in a research note on Friday, March 1st. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and nine have issued a buy rating to the stock. The stock has an average rating of Hold and a consensus price target of $54.40.

Shares of Pacira Biosciences stock traded down $0.95 on Monday, reaching $43.51. 599,214 shares of the company traded hands, compared to its average volume of 618,108. The company has a market capitalization of $1.80 billion, a P/E ratio of 150.03, a P/E/G ratio of 2.38 and a beta of 1.47. Pacira Biosciences has a 52 week low of $30.00 and a 52 week high of $55.00. The company has a quick ratio of 7.83, a current ratio of 8.62 and a debt-to-equity ratio of 0.99.

Pacira Biosciences (NASDAQ:PCRX) last released its quarterly earnings data on Thursday, May 2nd. The company reported $0.22 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.02 by $0.20. The company had revenue of $91.31 million during the quarter, compared to the consensus estimate of $92.13 million. Pacira Biosciences had a net margin of 2.10% and a return on equity of 6.78%. Pacira Biosciences’s revenue for the quarter was up 22.4% on a year-over-year basis. During the same period last year, the firm earned $0.02 EPS. Equities analysts expect that Pacira Biosciences will post 0.79 EPS for the current fiscal year.

In related news, Director Mark A. Kronenfeld acquired 1,700 shares of the stock in a transaction dated Wednesday, March 6th. The shares were purchased at an average price of $38.97 per share, for a total transaction of $66,249.00. Following the transaction, the director now owns 9,277 shares in the company, valued at approximately $361,524.69. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 5.90% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its holdings in shares of Pacira Biosciences by 7.2% during the 3rd quarter. Vanguard Group Inc. now owns 3,641,417 shares of the company’s stock valued at $178,976,000 after purchasing an additional 243,213 shares during the last quarter. California Public Employees Retirement System grew its holdings in Pacira Biosciences by 4.7% in the 4th quarter. California Public Employees Retirement System now owns 52,851 shares of the company’s stock worth $2,274,000 after acquiring an additional 2,351 shares during the last quarter. Vanguard Group Inc grew its holdings in Pacira Biosciences by 7.2% in the 3rd quarter. Vanguard Group Inc now owns 3,641,417 shares of the company’s stock worth $178,976,000 after acquiring an additional 243,213 shares during the last quarter. Man Group plc grew its holdings in Pacira Biosciences by 258.0% in the 3rd quarter. Man Group plc now owns 45,817 shares of the company’s stock worth $2,251,000 after acquiring an additional 33,018 shares during the last quarter. Finally, Timpani Capital Management LLC bought a new stake in Pacira Biosciences in the 4th quarter worth $2,375,000. 99.13% of the stock is currently owned by institutional investors.

About Pacira Biosciences

Pacira BioSciences, Inc provides non-opioid pain management and regenerative health solutions for health care practitioners and their patients in the United States. The company develops products based on its proprietary DepoFoam product delivery technology that encapsulates drugs without altering their molecular structure.

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Analyst Recommendations for Pacira Biosciences (NASDAQ:PCRX)

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