HC Wainwright Comments on Pacira BioSciences, Inc.’s FY2023 Earnings (NASDAQ:PCRX)

Posted by Defense World Staff on Jul 17th, 2023

Pacira BioSciences, Inc. (NASDAQ:PCRX – Free Report) – Equities research analysts at HC Wainwright decreased their FY2023 earnings per share (EPS) estimates for Pacira BioSciences in a research report issued to clients and investors on Thursday, July 13th. HC Wainwright analyst O. Livnat now forecasts that the company will post earnings per share of $2.79 for the year, down from their previous forecast of $2.82. The consensus estimate for Pacira BioSciences’ current full-year earnings is $2.77 per share. HC Wainwright also issued estimates for Pacira BioSciences’ FY2024 earnings at $3.84 EPS.

Pacira BioSciences (NASDAQ:PCRX – Get Free Report) last issued its earnings results on Wednesday, May 3rd. The company reported $0.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.08). The business had revenue of $160.34 million during the quarter, compared to the consensus estimate of $157.02 million. Pacira BioSciences had a positive return on equity of 10.12% and a negative net margin of 1.56%.

Several other equities research analysts have also recently commented on PCRX. StockNews.com assumed coverage on Pacira BioSciences in a report on Thursday, May 18th. They set a “hold” rating on the stock. Needham & Company LLC restated a “buy” rating and issued a $60.00 price target on shares of Pacira BioSciences in a research report on Thursday, April 20th. Finally, Piper Sandler decreased their price target on shares of Pacira BioSciences from $63.00 to $62.00 in a research report on Tuesday, April 25th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $62.45.

Pacira BioSciences Stock Performance

PCRX opened at $37.29 on Monday. Pacira BioSciences has a twelve month low of $35.35 and a twelve month high of $59.20. The stock has a market cap of $1.71 billion, a PE ratio of -138.11 and a beta of 0.77. The business’s 50 day moving average is $39.52 and its 200-day moving average is $40.34. The company has a current ratio of 3.81, a quick ratio of 2.87 and a debt-to-equity ratio of 0.71.

Insider Buying and Selling at Pacira BioSciences

In other Pacira BioSciences news, CEO David M. Stack sold 5,058 shares of the firm’s stock in a transaction that occurred on Tuesday, June 6th. The shares were sold at an average price of $38.99, for a total value of $197,211.42. Following the transaction, the chief executive officer now directly owns 159,107 shares of the company’s stock, valued at $6,203,581.93. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, CEO David M. Stack sold 5,058 shares of Pacira BioSciences stock in a transaction on Tuesday, June 6th. The shares were sold at an average price of $38.99, for a total transaction of $197,211.42. Following the transaction, the chief executive officer now directly owns 159,107 shares of the company’s stock, valued at $6,203,581.93. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP Lauren Bullaro Riker sold 643 shares of Pacira BioSciences stock in a transaction on Wednesday, July 5th. The stock was sold at an average price of $38.91, for a total transaction of $25,019.13. Following the transaction, the senior vice president now directly owns 22,687 shares in the company, valued at $882,751.17. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 47,282 shares of company stock valued at $1,810,337. 6.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Pacira BioSciences

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Rice Hall James & Associates LLC increased its stake in shares of Pacira BioSciences by 8.7% during the 1st quarter. Rice Hall James & Associates LLC now owns 456,798 shares of the company’s stock worth $34,863,000 after purchasing an additional 36,593 shares during the last quarter. Raymond James & Associates increased its position in Pacira BioSciences by 2.3% in the 1st quarter. Raymond James & Associates now owns 35,299 shares of the company’s stock valued at $2,694,000 after acquiring an additional 791 shares during the period. Raymond James Financial Services Advisors Inc. bought a new stake in shares of Pacira BioSciences in the 1st quarter valued at $339,000. Natixis Advisors L.P. boosted its stake in shares of Pacira BioSciences by 22.6% in the 1st quarter. Natixis Advisors L.P. now owns 12,898 shares of the company’s stock valued at $984,000 after purchasing an additional 2,381 shares during the last quarter. Finally, MetLife Investment Management LLC boosted its stake in Pacira BioSciences by 55.3% during the first quarter. MetLife Investment Management LLC now owns 23,671 shares of the company’s stock worth $1,807,000 after acquiring an additional 8,425 shares in the last quarter. 99.75% of the stock is currently owned by institutional investors and hedge funds.

Pacira BioSciences Company Profile

(Get Free Report)

Pacira BioSciences, Inc provides non-opioid pain management and regenerative health solutions for healthcare practitioners and their patients 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 only to targeted nerves.