Pacira Biosciences (NASDAQ:PCRX) Cut to Sell at BidaskClub

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

Several other research analysts have also recently weighed in on the company. Stifel Nicolaus reaffirmed a sell rating and set a $33.00 target price on shares of Pacira Biosciences in a research note on Friday, March 8th. Wedbush reaffirmed an outperform rating and set a $85.00 target price on shares of Pacira Biosciences in a report on Friday, March 8th. ValuEngine downgraded Pacira Biosciences from a buy rating to a hold rating in a report on Wednesday, March 6th. Mizuho raised Pacira Biosciences from an underperform rating to a neutral rating and upped their target price for the company from $29.00 to $38.00 in a report on Monday, May 6th. Finally, Barclays assumed coverage on Pacira Biosciences in a report on Tuesday, June 11th. They set an overweight rating and a $52.00 target price for the company. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and nine have given a buy rating to the company’s stock. The stock currently has an average rating of Hold and a consensus price target of $54.53.

Shares of PCRX stock opened at $43.26 on Thursday. The company’s 50-day moving average price is $43.48. Pacira Biosciences has a fifty-two week low of $33.60 and a fifty-two week high of $55.00. The company has a market capitalization of $1.79 billion, a PE ratio of 86.52, a P/E/G ratio of 2.44 and a beta of 1.14. The company has a debt-to-equity ratio of 0.99, a current ratio of 8.62 and a quick ratio of 7.83.

Pacira Biosciences (NASDAQ:PCRX) last announced its earnings results on Thursday, May 2nd. The company reported $0.22 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.02 by $0.20. Pacira Biosciences had a return on equity of 6.78% and a net margin of 2.10%. The business had revenue of $91.31 million during the quarter, compared to analysts’ expectations of $92.13 million. During the same quarter last year, the business posted $0.02 earnings per share. The company’s quarterly revenue was up 22.4% on a year-over-year basis. Sell-side analysts expect that Pacira Biosciences will post 0.77 EPS for the current year.

In related news, Director Paul J. Hastings sold 782 shares of the stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $42.66, for a total value of $33,360.12. Following the completion of the sale, the director now directly owns 2,747 shares of the company’s stock, valued at approximately $117,187.02. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Richard Scranton sold 15,510 shares of the stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $43.21, for a total value of $670,187.10. Following the completion of the sale, the insider now directly owns 23,111 shares of the company’s stock, valued at $998,626.31. The disclosure for this sale can be found here. Over the last three months, insiders sold 44,875 shares of company stock valued at $1,934,674. Company insiders own 5.80% of the company’s stock.

A number of institutional investors have recently made changes to their positions in the stock. Frontier Capital Management Co. LLC purchased a new stake in Pacira Biosciences in the 1st quarter worth about $52,509,000. Baillie Gifford & Co. lifted its stake in Pacira Biosciences by 6.1% in the 1st quarter. Baillie Gifford & Co. now owns 990,908 shares of the company’s stock worth $37,715,000 after acquiring an additional 57,367 shares in the last quarter. Polar Capital LLP increased its position in Pacira Biosciences by 113.0% in the 4th quarter. Polar Capital LLP now owns 600,425 shares of the company’s stock worth $25,830,000 after purchasing an additional 318,601 shares during the last quarter. Elk Creek Partners LLC increased its position in Pacira Biosciences by 5.3% in the 1st quarter. Elk Creek Partners LLC now owns 564,576 shares of the company’s stock worth $21,488,000 after purchasing an additional 28,382 shares during the last quarter. Finally, Geode Capital Management LLC increased its position in Pacira Biosciences by 7.4% in the 4th quarter. Geode Capital Management LLC now owns 516,774 shares of the company’s stock worth $22,231,000 after purchasing an additional 35,635 shares during the last quarter. 99.13% of the stock is owned by hedge funds and other institutional investors.

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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