Shares of Pacira BioSciences, Inc. (NASDAQ:PCRX) reached a new 52-week high during mid-day trading on Thursday after BidaskClub upgraded the stock from a hold rating to a buy rating. The company traded as high as $70.07 and last traded at $68.91, with a volume of 12876 shares changing hands. The stock had previously closed at $62.95.
PCRX has been the subject of several other research reports. Zacks Investment Research downgraded Pacira BioSciences from a â€œholdâ€ rating to a â€œsellâ€ rating and set a $57.00 target price for the company. in a research report on Thursday, November 5th. Barclays upped their target price on Pacira BioSciences from $73.00 to $79.00 and gave the stock an â€œoverweightâ€ rating in a research report on Monday, December 14th. Jefferies Financial Group upped their target price on Pacira BioSciences from $69.00 to $75.00 in a research report on Wednesday, September 30th. Needham & Company LLC decreased their target price on Pacira BioSciences from $68.00 to $67.00 and set a â€œbuyâ€ rating for the company in a research report on Wednesday, December 9th. Finally, Royal Bank of Canada upped their target price on Pacira BioSciences from $65.00 to $70.00 and gave the stock an â€œoutperformâ€ rating in a research report on Wednesday. One research analyst has rated the stock with a sell rating, three have issued a hold rating and eleven have assigned a buy rating to the stock. The company presently has a consensus rating of â€œBuyâ€ and an average target price of $66.46.
In other Pacira BioSciences news, Director Laura Brege sold 12,000 shares of the companyâ€™s stock in a transaction that occurred on Monday, November 16th. The stock was sold at an average price of $65.95, for a total transaction of $791,400.00. Also, CEO David M. Stack sold 30,000 shares of the companyâ€™s stock in a transaction that occurred on Thursday, October 15th. The shares were sold at an average price of $55.00, for a total value of $1,650,000.00. Following the sale, the chief executive officer now owns 203,377 shares in the company, valued at approximately $11,185,735. The disclosure for this sale can be found here. Insiders sold 72,000 shares of company stock valued at $4,335,900 in the last three months. 5.80% of the stock is currently owned by company insiders.
Several institutional investors have recently made changes to their positions in the company. DekaBank Deutsche Girozentrale bought a new position in Pacira BioSciences in the third quarter valued at approximately $2,141,000. Cubist Systematic Strategies LLC lifted its holdings in shares of Pacira BioSciences by 12.4% during the third quarter. Cubist Systematic Strategies LLC now owns 59,400 shares of the companyâ€™s stock worth $3,571,000 after purchasing an additional 6,534 shares during the period. Handelsbanken Fonder AB acquired a new position in shares of Pacira BioSciences during the second quarter worth $358,000. IFP Advisors Inc acquired a new position in shares of Pacira BioSciences during the third quarter worth $81,000. Finally, Glenmede Trust Co. NA lifted its holdings in shares of Pacira BioSciences by 9,164.7% during the second quarter. Glenmede Trust Co. NA now owns 219,111 shares of the companyâ€™s stock worth $11,495,000 after purchasing an additional 216,746 shares during the period.
The company has a market cap of $2.98 billion, a price-to-earnings ratio of -275.68, a price-to-earnings-growth ratio of 1.40 and a beta of 1.22. The businessâ€™s fifty day moving average price is $60.84 and its 200 day moving average price is $57.62. The company has a debt-to-equity ratio of 0.81, a current ratio of 6.46 and a quick ratio of 5.51.
Pacira BioSciences (NASDAQ:PCRX) last released its earnings results on Thursday, October 29th. The company reported $0.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.03. Pacira BioSciences had a negative net margin of 2.47% and a positive return on equity of 10.27%. The business had revenue of $117.50 million for the quarter, compared to analyst estimates of $115.95 million. During the same quarter in the previous year, the business earned $0.48 earnings per share. Pacira BioSciencesâ€™s revenue for the quarter was up 12.2% on a year-over-year basis. As a group, equities research analysts anticipate that Pacira BioSciences, Inc. will post 1.27 EPS for the current year.
Pacira BioSciences Company Profile (NASDAQ:PCRX)
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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