Brokerages Set Pacira Biosciences Inc (NASDAQ:PCRX) Target Price at $54.13

Shares of Pacira Biosciences Inc (NASDAQ:PCRX) have received an average recommendation of “Hold” from the nineteen ratings firms that are presently covering the firm, Marketbeat reports. Two analysts have rated the stock with a sell recommendation, nine have given a hold recommendation and eight have assigned a buy recommendation to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $54.13.

PCRX has been the subject of a number of research reports. BidaskClub lowered shares of Pacira Biosciences from a “hold” rating to a “sell” rating in a report on Friday, August 16th. Barclays initiated coverage on shares of Pacira Biosciences in a report on Tuesday, June 11th. They issued an “overweight” rating and a $52.00 price target for the company. BMO Capital Markets lowered their price target on shares of Pacira Biosciences from $46.00 to $43.00 and set a “market perform” rating for the company in a report on Friday, August 9th. Stifel Nicolaus set a $42.00 price target on shares of Pacira Biosciences and gave the company a “hold” rating in a report on Friday, August 9th. Finally, Mizuho raised shares of Pacira Biosciences from an “underperform” rating to a “neutral” rating and raised their price target for the company from $29.00 to $38.00 in a report on Monday, May 6th.

In other Pacira Biosciences news, VP Lauren Bullaro Riker sold 2,126 shares of Pacira Biosciences stock in a transaction on Monday, June 10th. The shares were sold at an average price of $44.28, for a total transaction of $94,139.28. Following the completion of the sale, the vice president now owns 10,042 shares of the company’s stock, valued at approximately $444,659.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Kristen Marie Williams sold 6,252 shares of Pacira Biosciences stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $39.49, for a total transaction of $246,891.48. The disclosure for this sale can be found here. Insiders have sold a total of 77,091 shares of company stock valued at $3,246,975 in the last ninety days. Company insiders own 5.80% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Geode Capital Management LLC grew its holdings in Pacira Biosciences by 7.4% during the 4th quarter. Geode Capital Management LLC now owns 516,774 shares of the company’s stock worth $22,231,000 after acquiring an additional 35,635 shares during the period. Mizuho Securities USA LLC acquired a new position in shares of Pacira Biosciences in the 1st quarter valued at $932,000. Boston Private Wealth LLC acquired a new position in shares of Pacira Biosciences in the 2nd quarter valued at $217,000. Mesirow Financial Investment Management Equity Management grew its holdings in shares of Pacira Biosciences by 21.9% in the 2nd quarter. Mesirow Financial Investment Management Equity Management now owns 109,611 shares of the company’s stock valued at $4,767,000 after buying an additional 19,690 shares during the period. Finally, First Quadrant L P CA grew its holdings in shares of Pacira Biosciences by 17.4% in the 1st quarter. First Quadrant L P CA now owns 8,873 shares of the company’s stock valued at $338,000 after buying an additional 1,316 shares during the period.

Shares of NASDAQ:PCRX traded down $1.40 during trading on Friday, reaching $36.54. The stock had a trading volume of 563,787 shares, compared to its average volume of 642,169. Pacira Biosciences has a 52 week low of $35.07 and a 52 week high of $55.00. The business’s 50-day moving average price is $41.52 and its 200 day moving average price is $41.26. The company has a debt-to-equity ratio of 0.99, a current ratio of 4.75 and a quick ratio of 4.12. The stock has a market capitalization of $1.64 billion, a PE ratio of 126.00, a P/E/G ratio of 1.77 and a beta of 1.15.

Pacira Biosciences (NASDAQ:PCRX) last posted its earnings results on Thursday, August 8th. The company reported $0.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.14 by $0.27. Pacira Biosciences had a net margin of 2.04% and a return on equity of 8.62%. The company had revenue of $102.60 million during the quarter, compared to analysts’ expectations of $99.92 million. During the same quarter in the previous year, the company posted $0.24 earnings per share. Pacira Biosciences’s quarterly revenue was up 22.0% compared to the same quarter last year. Analysts forecast that Pacira Biosciences will post 0.66 EPS for the current year.

Pacira Biosciences Company Profile

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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