Analysts Set Pacira Biosciences Inc (NASDAQ:PCRX) PT at $52.55

Shares of Pacira Biosciences Inc (NASDAQ:PCRX) have been assigned a consensus rating of “Hold” from the fifteen research firms that are currently covering the stock, MarketBeat reports. Two investment analysts have rated the stock with a sell recommendation, six have given a hold recommendation and seven have issued a buy recommendation on the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $52.55.

Several research firms have issued reports on PCRX. Royal Bank of Canada reaffirmed a “buy” rating on shares of Pacira Biosciences in a report on Wednesday, December 18th. Cowen reaffirmed a “hold” rating and issued a $41.00 price target on shares of Pacira Biosciences in a report on Thursday, November 7th. BTIG Research assumed coverage on shares of Pacira Biosciences in a report on Wednesday, November 6th. They set a “buy” rating and a $56.00 price objective on the stock. Barclays boosted their price objective on shares of Pacira Biosciences from $52.00 to $55.00 and gave the company an “overweight” rating in a report on Friday, November 8th. Finally, Wedbush reissued a “buy” rating and set a $85.00 price objective on shares of Pacira Biosciences in a report on Tuesday, January 7th.

In related news, insider Dennis Mcloughlin sold 3,671 shares of the business’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $45.79, for a total transaction of $168,095.09. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director John P. Phd Longenecker sold 1,300 shares of the business’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $46.13, for a total transaction of $59,969.00. Following the transaction, the director now owns 10,933 shares of the company’s stock, valued at $504,339.29. The disclosure for this sale can be found here. Insiders have sold 81,147 shares of company stock valued at $3,610,823 over the last 90 days. 5.80% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Macquarie Group Ltd. raised its position in shares of Pacira Biosciences by 5.8% in the second quarter. Macquarie Group Ltd. now owns 1,910,294 shares of the company’s stock worth $83,079,000 after acquiring an additional 104,428 shares during the period. State Street Corp grew its stake in Pacira Biosciences by 40.8% during the 3rd quarter. State Street Corp now owns 1,327,004 shares of the company’s stock valued at $50,519,000 after acquiring an additional 384,794 shares in the last quarter. Stephens Investment Management Group LLC grew its stake in Pacira Biosciences by 4.4% during the 3rd quarter. Stephens Investment Management Group LLC now owns 1,263,561 shares of the company’s stock valued at $48,104,000 after acquiring an additional 52,956 shares in the last quarter. D. E. Shaw & Co. Inc. grew its stake in Pacira Biosciences by 32.5% during the 2nd quarter. D. E. Shaw & Co. Inc. now owns 1,248,573 shares of the company’s stock valued at $54,301,000 after acquiring an additional 306,129 shares in the last quarter. Finally, Point72 Asset Management L.P. grew its stake in Pacira Biosciences by 83.8% during the 2nd quarter. Point72 Asset Management L.P. now owns 1,164,641 shares of the company’s stock valued at $50,650,000 after acquiring an additional 531,059 shares in the last quarter.

NASDAQ PCRX opened at $44.00 on Tuesday. The firm’s fifty day simple moving average is $45.04 and its two-hundred day simple moving average is $41.47. The company has a current ratio of 3.95, a quick ratio of 3.32 and a debt-to-equity ratio of 0.98. Pacira Biosciences has a 12-month low of $34.64 and a 12-month high of $49.50. The firm has a market capitalization of $1.81 billion, a P/E ratio of 151.72, a P/E/G ratio of 1.09 and a beta of 1.16.

Pacira Biosciences (NASDAQ:PCRX) last released its quarterly earnings results on Thursday, November 7th. The company reported $0.48 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.13 by $0.35. Pacira Biosciences had a net margin of 0.55% and a return on equity of 10.19%. The business had revenue of $104.69 million for the quarter, compared to analyst estimates of $104.88 million. During the same period in the previous year, the company earned $0.31 earnings per share. The business’s revenue for the quarter was up 25.5% on a year-over-year basis. As a group, sell-side analysts predict that Pacira Biosciences will post 0.71 earnings per share for the current fiscal year.

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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