Pacira Biosciences (NASDAQ:PCRX) Lowered to “Hold” at BidaskClub

BidaskClub cut shares of Pacira Biosciences (NASDAQ:PCRX) from a buy rating to a hold rating in a research report sent to investors on Friday, BidAskClub reports.

Several other equities analysts have also recently issued reports on the company. Cowen reiterated a hold rating and set a $41.00 target price on shares of Pacira Biosciences in a research report on Thursday, November 7th. BTIG Research assumed coverage on Pacira Biosciences in a research report on Wednesday, November 6th. They set a buy rating and a $56.00 target price on the stock. Needham & Company LLC reiterated a buy rating and set a $56.00 target price on shares of Pacira Biosciences in a research report on Thursday, November 7th. Barclays boosted their target price on Pacira Biosciences from $52.00 to $55.00 and gave the stock an overweight rating in a research report on Friday, November 8th. Finally, Jefferies Financial Group set a $60.00 target price on Pacira Biosciences and gave the stock a buy rating in a research report on Tuesday, October 8th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the stock. Pacira Biosciences currently has an average rating of Hold and an average price target of $52.55.

NASDAQ PCRX traded up $0.17 on Friday, hitting $45.68. 460,219 shares of the company’s stock were exchanged, compared to its average volume of 479,849. The company has a debt-to-equity ratio of 0.98, a current ratio of 3.95 and a quick ratio of 3.32. The firm’s 50-day moving average price is $43.60 and its two-hundred day moving average price is $41.29. Pacira Biosciences has a fifty-two week low of $34.64 and a fifty-two week high of $49.50. The firm has a market cap of $1.90 billion, a price-to-earnings ratio of 56.22, a P/E/G ratio of 2.04 and a beta of 1.17.

Pacira Biosciences (NASDAQ:PCRX) last released its 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 return on equity of 10.19% and a net margin of 0.55%. The company had revenue of $104.69 million for the quarter, compared to analysts’ expectations of $104.88 million. During the same quarter in the previous year, the firm posted $0.31 EPS. The firm’s quarterly revenue was up 25.5% on a year-over-year basis. On average, research analysts predict that Pacira Biosciences will post 0.71 earnings per share for the current fiscal year.

In other news, CEO David M. Stack sold 70,000 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $44.47, for a total transaction of $3,112,900.00. Also, VP Lauren Bullaro Riker sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $43.59, for a total value of $217,950.00. The disclosure for this sale can be found here. Insiders have sold a total of 77,476 shares of company stock worth $3,442,728 in the last three months. Corporate insiders own 5.80% of the company’s stock.

Several large investors have recently made changes to their positions in the company. Stephens Inc. AR boosted its stake in shares of Pacira Biosciences by 1.8% during the 3rd quarter. Stephens Inc. AR now owns 15,935 shares of the company’s stock worth $607,000 after acquiring an additional 287 shares in the last quarter. US Bancorp DE lifted its stake in Pacira Biosciences by 9.4% in the 2nd quarter. US Bancorp DE now owns 4,373 shares of the company’s stock valued at $190,000 after buying an additional 375 shares in the last quarter. Steward Partners Investment Advisory LLC lifted its stake in Pacira Biosciences by 23.0% in the 3rd quarter. Steward Partners Investment Advisory LLC now owns 2,029 shares of the company’s stock valued at $77,000 after buying an additional 379 shares in the last quarter. First Mercantile Trust Co. lifted its stake in Pacira Biosciences by 19.5% in the 2nd quarter. First Mercantile Trust Co. now owns 4,463 shares of the company’s stock valued at $194,000 after buying an additional 728 shares in the last quarter. Finally, California State Teachers Retirement System lifted its stake in Pacira Biosciences by 1.2% in the 3rd quarter. California State Teachers Retirement System now owns 63,196 shares of the company’s stock valued at $2,406,000 after buying an additional 755 shares in the last quarter. 99.13% of the stock is currently owned by institutional investors and hedge funds.

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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