Pacira Biosciences (NASDAQ:PCRX) had its target price raised by SVB Leerink from $45.00 to $58.00 in a research note issued to investors on Tuesday, The Fly reports. They currently have an outperform rating on the stock. SVB Leerink also issued estimates for Pacira Biosciences’ FY2020 earnings at $1.37 EPS, FY2021 earnings at $3.97 EPS, FY2022 earnings at $4.17 EPS and FY2023 earnings at $3.12 EPS.

Other research analysts have also issued research reports about the stock. ValuEngine upgraded shares of Pacira Biosciences from a sell rating to a hold rating in a research report on Tuesday, March 17th. Wedbush restated a buy rating and issued a $85.00 price target on shares of Pacira Biosciences in a research report on Tuesday, May 12th. BidaskClub lowered shares of Pacira Biosciences from a buy rating to a hold rating in a research report on Friday, May 29th. Zacks Investment Research cut shares of Pacira Biosciences from a buy rating to a hold rating and set a $38.00 price objective on the stock. in a research report on Friday, March 27th. Finally, Stifel Nicolaus lowered their price objective on shares of Pacira Biosciences from $49.00 to $48.00 and set a hold rating on the stock in a research report on Thursday, May 7th. Eight analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. The company has an average rating of Buy and an average price target of $54.93.

Pacira Biosciences stock opened at $52.37 on Tuesday. The company has a debt-to-equity ratio of 0.94, a quick ratio of 4.63 and a current ratio of 5.37. The firm has a market cap of $2.24 billion, a price-to-earnings ratio of -2,617.19, a price-to-earnings-growth ratio of 2.57 and a beta of 1.31. Pacira Biosciences has a 1 year low of $27.46 and a 1 year high of $56.00. The firm’s 50 day moving average price is $44.94 and its two-hundred day moving average price is $42.15.

Pacira Biosciences (NASDAQ:PCRX) last posted its quarterly earnings results on Thursday, May 7th. The company reported $0.53 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.30 by $0.23. The firm had revenue of $105.68 million for the quarter, compared to analyst estimates of $101.64 million. Pacira Biosciences had a negative net margin of 0.02% and a positive return on equity of 13.89%. The firm’s quarterly revenue was up 15.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.22 earnings per share. As a group, equities analysts predict that Pacira Biosciences will post 0.99 EPS for the current fiscal year.

In other Pacira Biosciences news, VP Lauren Bullaro Riker sold 2,000 shares of Pacira Biosciences stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $45.26, for a total transaction of $90,520.00. Following the completion of the sale, the vice president now owns 12,464 shares of the company’s stock, valued at approximately $564,120.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Paul J. Hastings sold 2,025 shares of Pacira Biosciences stock in a transaction on Thursday, June 4th. The shares were sold at an average price of $47.46, for a total transaction of $96,106.50. Following the sale, the director now directly owns 4,856 shares of the company’s stock, valued at approximately $230,465.76. The disclosure for this sale can be found here. Insiders have sold a total of 109,184 shares of company stock valued at $5,337,870 in the last three months. Company insiders own 5.80% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in PCRX. Amundi Pioneer Asset Management Inc. acquired a new stake in shares of Pacira Biosciences in the 1st quarter valued at $65,000. Victory Capital Management Inc. lifted its position in Pacira Biosciences by 23.7% during the 4th quarter. Victory Capital Management Inc. now owns 10,943 shares of the company’s stock worth $473,000 after acquiring an additional 2,098 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in Pacira Biosciences by 2.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 335,829 shares of the company’s stock worth $15,214,000 after acquiring an additional 7,801 shares during the last quarter. Quantbot Technologies LP acquired a new position in Pacira Biosciences during the 4th quarter worth $56,000. Finally, Bank of Montreal Can lifted its position in Pacira Biosciences by 33.1% during the 4th quarter. Bank of Montreal Can now owns 6,431 shares of the company’s stock worth $292,000 after acquiring an additional 1,599 shares during the last quarter.

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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