Pacira Biosciences (NASDAQ:PCRX) Coverage Initiated by Analysts at BTIG Research

BTIG Research began coverage on shares of Pacira Biosciences (NASDAQ:PCRX) in a report published on Wednesday, Briefing.com Automated Import reports. The brokerage issued a buy rating and a $56.00 price target on the stock.

PCRX has been the topic of a number of other reports. BidaskClub lowered shares of Pacira Biosciences from a hold rating to a sell rating in a research note on Thursday, October 3rd. BMO Capital Markets decreased their target price on shares of Pacira Biosciences from $46.00 to $43.00 and set a market perform rating on the stock in a research note on Friday, August 9th. Zacks Investment Research raised shares of Pacira Biosciences from a sell rating to a hold rating and set a $47.00 target price on the stock in a research note on Friday, August 2nd. Stifel Nicolaus set a $42.00 target price on shares of Pacira Biosciences and gave the stock a hold rating in a research note on Friday, August 9th. Finally, Jefferies Financial Group set a $60.00 target price on shares of Pacira Biosciences and gave the stock a buy rating in a research note on Tuesday, October 8th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the company’s stock. The stock has a consensus rating of Hold and a consensus target price of $52.55.

PCRX traded up $1.40 during midday trading on Wednesday, hitting $44.02. 711,200 shares of the company were exchanged, compared to its average volume of 631,161. The company has a current ratio of 4.75, a quick ratio of 4.12 and a debt-to-equity ratio of 0.99. The company’s 50 day simple moving average is $39.20 and its 200 day simple moving average is $41.12. Pacira Biosciences has a 1-year low of $34.64 and a 1-year high of $50.90. The firm has a market capitalization of $1.76 billion, a price-to-earnings ratio of 151.79, a price-to-earnings-growth ratio of 1.96 and a beta of 1.13.

Pacira Biosciences (NASDAQ:PCRX) last released its earnings results on Thursday, November 7th. The company reported $0.48 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.13 by $0.35. Pacira Biosciences had a net margin of 2.04% and a return on equity of 8.62%. The business had revenue of $104.69 million for the quarter, compared to analyst estimates of $104.88 million. During the same period last year, the company posted $0.31 EPS. The business’s revenue was up 25.5% on a year-over-year basis. On average, equities analysts anticipate that Pacira Biosciences will post 0.63 EPS for the current year.

In other news, CEO David M. Stack sold 12,849 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $39.15, for a total transaction of $503,038.35. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Kristen Marie Williams sold 6,252 shares of the firm’s stock in a transaction that occurred 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. 5.80% of the stock is owned by company insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in PCRX. Usca Ria LLC acquired a new stake in shares of Pacira Biosciences during the 3rd quarter worth approximately $38,000. HM Payson & Co. acquired a new stake in shares of Pacira Biosciences during the 2nd quarter worth approximately $39,000. C M Bidwell & Associates Ltd. acquired a new stake in Pacira Biosciences in the 2nd quarter valued at approximately $44,000. LS Investment Advisors LLC acquired a new stake in Pacira Biosciences in the 3rd quarter valued at approximately $50,000. Finally, Tower Research Capital LLC TRC increased its holdings in Pacira Biosciences by 414.7% in the 2nd quarter. Tower Research Capital LLC TRC now owns 1,436 shares of the company’s stock valued at $63,000 after purchasing an additional 1,157 shares during the last quarter. Institutional investors and hedge funds own 99.13% of the company’s stock.

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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