Royal Bank of Canada Reaffirms “Buy” Rating for Pacira Biosciences (NASDAQ:PCRX)

Pacira Biosciences (NASDAQ:PCRX)‘s stock had its “buy” rating restated by equities researchers at Royal Bank of Canada in a note issued to investors on Wednesday, AnalystRatings.com reports. They currently have a $56.00 target price on the stock. Royal Bank of Canada’s price target indicates a potential upside of 32.39% from the company’s current price.

Several other equities analysts have also commented on PCRX. Northland Securities reaffirmed a “buy” rating and issued a $50.00 price objective on shares of Pacira Biosciences in a research report on Friday, April 17th. SunTrust Banks started coverage on shares of Pacira Biosciences in a research report on Thursday, January 23rd. They issued a “buy” rating and a $60.00 price objective for the company. Zacks Investment Research lowered shares of Pacira Biosciences from a “buy” rating to a “hold” rating and set a $38.00 price objective for the company. in a research report on Friday, March 27th. Piper Sandler decreased their price objective on shares of Pacira Biosciences from $60.00 to $49.00 in a research report on Monday, March 23rd. Finally, Stifel Nicolaus decreased their price objective on shares of Pacira Biosciences from $49.00 to $48.00 and set a “hold” rating for the company in a research report on Thursday, May 7th. Five research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $53.40.

Shares of NASDAQ:PCRX traded down $0.71 during trading on Wednesday, reaching $42.30. The stock had a trading volume of 48,119 shares, compared to its average volume of 661,669. Pacira Biosciences has a one year low of $27.46 and a one year high of $51.35. The company has a market capitalization of $1.77 billion, a P/E ratio of -2,109.95, a PEG ratio of 1.41 and a beta of 1.31. The company has a current ratio of 5.37, a quick ratio of 4.63 and a debt-to-equity ratio of 0.94. The firm’s 50-day simple moving average is $36.32 and its 200 day simple moving average is $41.77.

Pacira Biosciences (NASDAQ:PCRX) last released its quarterly earnings results on Thursday, May 7th. The company reported $0.53 earnings per share for the quarter, beating analysts’ consensus estimates of $0.30 by $0.23. Pacira Biosciences had a negative net margin of 0.02% and a positive return on equity of 13.89%. The business had revenue of $105.68 million for the quarter, compared to analysts’ expectations of $101.64 million. During the same period last year, the business earned $0.22 EPS. The company’s revenue was up 15.7% compared to the same quarter last year. Equities research analysts forecast that Pacira Biosciences will post 0.9 earnings per share for the current fiscal year.

In other news, insider Roy Winston acquired 2,500 shares of the company’s stock in a transaction dated Wednesday, March 11th. The shares were acquired at an average price of $36.50 per share, with a total value of $91,250.00. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. 5.80% of the stock is owned by company insiders.

Hedge funds and other institutional investors have recently modified their holdings of the company. Thrivent Financial for Lutherans boosted its position in Pacira Biosciences by 0.7% in the 4th quarter. Thrivent Financial for Lutherans now owns 33,228 shares of the company’s stock valued at $1,505,000 after buying an additional 226 shares during the last quarter. UBS Asset Management Americas Inc. raised its position in shares of Pacira Biosciences by 0.5% in the fourth quarter. UBS Asset Management Americas Inc. now owns 47,874 shares of the company’s stock valued at $2,169,000 after buying an additional 241 shares in the last quarter. Alliancebernstein L.P. raised its position in Pacira Biosciences by 0.4% during the fourth quarter. Alliancebernstein L.P. now owns 64,814 shares of the company’s stock valued at $2,936,000 after purchasing an additional 250 shares in the last quarter. Nisa Investment Advisors LLC grew its stake in shares of Pacira Biosciences by 4.2% during the fourth quarter. Nisa Investment Advisors LLC now owns 7,490 shares of the company’s stock worth $339,000 after buying an additional 300 shares during the last quarter. Finally, Mutual of America Capital Management LLC grew its stake in shares of Pacira Biosciences by 21.2% during the first quarter. Mutual of America Capital Management LLC now owns 1,844 shares of the company’s stock worth $62,000 after buying an additional 323 shares during the last quarter.

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.

Featured Story: What causes a recession?

Analyst Recommendations for Pacira Biosciences (NASDAQ:PCRX)

Receive News & Ratings for Pacira Biosciences Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pacira Biosciences and related companies with MarketBeat.com's FREE daily email newsletter.



Comments


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on reddit