Pacira BioSciences (NASDAQ:PCRX) Price Target Cut to $43.00 by Analysts at Needham & Company LLC

Pacira BioSciences (NASDAQ:PCRX) had its target price trimmed by Needham & Company LLC from $45.00 to $43.00 in a research note published on Wednesday morning, Benzinga reports. The brokerage currently has a buy rating on the stock.

Several other brokerages have also recently issued reports on PCRX. TheStreet raised shares of Pacira BioSciences from a d+ rating to a c rating in a research note on Thursday, February 29th. Wedbush reissued an outperform rating and issued a $57.00 target price on shares of Pacira BioSciences in a research note on Thursday, February 8th. Royal Bank of Canada dropped their price target on Pacira BioSciences from $53.00 to $45.00 and set an outperform rating for the company in a research report on Friday, March 1st. JPMorgan Chase & Co. began coverage on Pacira BioSciences in a research note on Thursday, March 7th. They set an overweight rating and a $45.00 price objective on the stock. Finally, HC Wainwright reaffirmed a buy rating and issued a $57.00 target price on shares of Pacira BioSciences in a research note on Monday, March 4th. Eleven equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, Pacira BioSciences presently has a consensus rating of Buy and an average price target of $47.40.

Pacira BioSciences Trading Up 0.7 %

PCRX traded up $0.21 during trading on Wednesday, reaching $29.86. The company had a trading volume of 249,172 shares, compared to its average volume of 503,276. The company has a quick ratio of 4.17, a current ratio of 5.24 and a debt-to-equity ratio of 0.59. Pacira BioSciences has a 52 week low of $25.33 and a 52 week high of $43.50. The stock has a market cap of $1.39 billion, a P/E ratio of 36.60 and a beta of 0.77. The business has a 50 day simple moving average of $28.27 and a 200-day simple moving average of $29.51.

Pacira BioSciences (NASDAQ:PCRX) last issued its earnings results on Thursday, February 29th. The company reported $0.71 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.71. The business had revenue of $181.24 million during the quarter, compared to analyst estimates of $180.60 million. Pacira BioSciences had a return on equity of 12.81% and a net margin of 6.22%. On average, equities analysts anticipate that Pacira BioSciences will post 2.17 EPS for the current fiscal year.

Insider Activity at Pacira BioSciences

In other news, Director Gary W. Pace sold 90,000 shares of Pacira BioSciences stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $30.60, for a total transaction of $2,754,000.00. Following the completion of the sale, the director now owns 22,127 shares in the company, valued at approximately $677,086.20. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, Director Gary W. Pace sold 90,000 shares of Pacira BioSciences stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $30.60, for a total transaction of $2,754,000.00. Following the transaction, the director now owns 22,127 shares in the company, valued at approximately $677,086.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Gary W. Pace sold 1,066 shares of the company’s stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $29.67, for a total transaction of $31,628.22. Following the completion of the transaction, the director now owns 140,384 shares of the company’s stock, valued at approximately $4,165,193.28. The disclosure for this sale can be found here. 6.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Pacira BioSciences

A number of institutional investors have recently added to or reduced their stakes in PCRX. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Pacira BioSciences by 33.8% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,946 shares of the company’s stock worth $336,000 after purchasing an additional 2,764 shares during the period. Inspire Investing LLC lifted its holdings in shares of Pacira BioSciences by 26.5% during the third quarter. Inspire Investing LLC now owns 9,930 shares of the company’s stock worth $305,000 after buying an additional 2,083 shares in the last quarter. Gradient Investments LLC boosted its position in shares of Pacira BioSciences by 3.3% in the third quarter. Gradient Investments LLC now owns 105,226 shares of the company’s stock valued at $3,228,000 after acquiring an additional 3,317 shares during the period. Allspring Global Investments Holdings LLC increased its position in Pacira BioSciences by 63.2% during the third quarter. Allspring Global Investments Holdings LLC now owns 4,481 shares of the company’s stock worth $137,000 after acquiring an additional 1,736 shares during the period. Finally, China Universal Asset Management Co. Ltd. raised its stake in Pacira BioSciences by 96.8% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 1,185 shares of the company’s stock worth $36,000 after purchasing an additional 583 shares in the last quarter. 99.73% of the stock is currently owned by institutional investors and hedge funds.

Pacira BioSciences Company Profile

Pacira BioSciences, Inc engages in the development, manufacture, marketing, distribution, and sale of non-opioid pain management and regenerative health solutions to healthcare practitioners in the United States. The company offers EXPAREL, a bupivacaine liposome injectable suspension; ZILRETTA, a triamcinolone acetonide extended-release injectable suspension; and iovera system, a non-opioid handheld cryoanalgesia device used to produce controlled doses of cold temperature to targeted nerves.