Pacira Biosciences (NASDAQ:PCRX) Given “Hold” Rating at Cowen

Pacira Biosciences (NASDAQ:PCRX)‘s stock had its “hold” rating restated by investment analysts at Cowen in a research note issued to investors on Thursday, AnalystRatings.com reports. They currently have a $41.00 price target on the stock. Cowen’s price target would indicate a potential downside of 6.86% from the stock’s previous close.

A number of other analysts also recently commented on PCRX. BMO Capital Markets dropped their price objective on 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. Jefferies Financial Group set a $60.00 price objective on Pacira Biosciences and gave the stock a “buy” rating in a research note on Tuesday, October 8th. Zacks Investment Research raised Pacira Biosciences from a “sell” rating to a “hold” rating and set a $47.00 price objective on the stock in a research note on Friday, August 2nd. BTIG Research initiated coverage on Pacira Biosciences in a research note on Wednesday. They issued a “buy” rating and a $56.00 price objective on the stock. Finally, BidaskClub raised Pacira Biosciences from a “sell” rating to a “hold” rating in a research note on Wednesday. One analyst has rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $52.55.

Shares of PCRX traded up $1.40 during mid-day trading on Thursday, hitting $44.02. The stock had a trading volume of 711,200 shares, compared to its average volume of 631,161. The company has a quick ratio of 4.12, a current ratio of 4.75 and a debt-to-equity ratio of 0.99. Pacira Biosciences has a fifty-two week low of $34.64 and a fifty-two week high of $50.90. The company’s fifty day simple moving average is $39.20 and its two-hundred day simple moving average is $41.12. The company has a market cap of $1.76 billion, a PE ratio of 151.79, a PEG ratio of 1.96 and a beta of 1.13.

Pacira Biosciences (NASDAQ:PCRX) last announced its quarterly earnings results on Thursday, November 7th. The company reported $0.48 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.13 by $0.35. Pacira Biosciences had a return on equity of 8.62% and a net margin of 2.04%. The company had revenue of $104.69 million during the quarter, compared to analyst estimates 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. Equities analysts expect that Pacira Biosciences will post 0.63 earnings per share for the current year.

In other news, insider Kristen Marie Williams sold 6,252 shares of the business’s stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $39.49, for a total transaction of $246,891.48. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO David M. Stack sold 12,849 shares of the business’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $39.15, for a total value of $503,038.35. The disclosure for this sale can be found here. 5.80% of the stock is currently owned by insiders.

Several institutional investors have recently made changes to their positions in PCRX. Amundi Pioneer Asset Management Inc. acquired a new stake in shares of Pacira Biosciences during the first quarter worth $65,000. Cortina Asset Management LLC raised its position in shares of Pacira Biosciences by 14.5% during the second quarter. Cortina Asset Management LLC now owns 208,471 shares of the company’s stock worth $9,066,000 after purchasing an additional 26,427 shares during the period. Boston Private Wealth LLC acquired a new stake in shares of Pacira Biosciences during the second quarter worth $217,000. First Hawaiian Bank acquired a new stake in shares of Pacira Biosciences during the second quarter worth $404,000. Finally, Legacy Capital Partners Inc. raised its position in shares of Pacira Biosciences by 2.2% during the second quarter. Legacy Capital Partners Inc. now owns 48,573 shares of the company’s stock worth $2,112,000 after purchasing an additional 1,025 shares during the period. 99.13% of the stock is currently owned by 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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