Stick With Pacira BioSciences Inc. (PCRX). The Bull Are Alive And Well

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Renaissance Technologies LLC recently announced the acquisition of new stake in Pacira BioSciences Inc. (NASDAQ:PCRX). The institutional investor has increased its shareholding in the Healthcare company by 37.32% to 2.47 million shares with purchase of 0.67 million shares. This fresh investment now brings its stake to 5.86% valued currently at $129.5 million. In addition, Deerfield Management Company LP raised its holdings by 1.63 million to 1.63 million shares. And Baillie Gifford & Co. has lifted its position by 1.76% or 24447.0 shares – to 1.41 million shares.

With over 0.35 million Pacira BioSciences Inc. (PCRX) shares trading Tuesday and a closing price of $54.24 on the day, the dollar volume was approximately $19.13 million. The shares have shown a negative weekly performance of -0.74% and its price on 07/21/20 lost nearly -1.24%. Currently, there are 42.03M common shares owned by the public and among those 41.79M shares have been available to trade.

An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 14 analysts who have offered their price forecasts for PCRX have a consensus price objective of $59.77. The analysts have set the share’s price value over the next 12 months at a high of $85.00 and a low of $44.00 should the stock experience a downside. Incidentally, analysts’ outlook for the Pacira BioSciences Inc. stock is 2.10 for the next 12 months. The average price target is 9.72% above its last price level and an upside to the estimated low will see the stock lose -23.27% over that period. But an upside of 36.19% will see the stock hit the forecast high price target while mean target price for the stock is $58.00.

Insiders at the company have transacted a total of 92 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 52 of these insider trades were purchases, accounting for 437,655 shares. Insider sales of the common stock occurred on 40 occasions, with total insider shares sold totaling 282,383 shares.

The top 3 mutual fund holders in Pacira BioSciences Inc. are iShares Core S&P Small Cap ETF, Delaware Smid Cap Growth Fund, and Vanguard Total Stock Market Index. iShares Core S&P Small Cap ETF owns 2.6 million shares of the company’s stock, all valued at over $136.51 million. Delaware Smid Cap Growth Fund sold -0.35 million shares to see its total holdings shrink to 1.49 million shares valued at over $78.4 million and representing 3.55% of the shares outstanding. Vanguard Total Stock Market Index sold 21750.0 shares to bring its total holdings to over 1.12 million shares at a value of $58.69 million. Vanguard Total Stock Market Index now owns shares totaling to 2.66% of the shares outstanding.

Shares of Pacira BioSciences Inc. (NASDAQ: PCRX) opened at $55.40, up $0.48 from a prior closing price of $54.92. However, the script later closed the day at $54.24, down -1.24%. The company’s stock has a 5-day price change of -0.74% and 48.83% over the past three months. PCRX shares are trading 21.24% year to date (YTD), with the 12-month market performance up to 38.55% higher. It has a 12-month low price of $27.46 and touched a high of $59.93 over the same period. Currently, 0.35 million shares have been traded, compared to an average intraday trading volume of 721.54K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 2.29%, 13.18%, and 26.28% respectively.

Institutional ownership of Pacira BioSciences Inc. (NASDAQ: PCRX) 42.03M shares outstanding. Mutual fund holders own 53.91%, while other institutional holders and individual stakeholders account for 61.78% and 11.97% respectively.

It has a market capitalization of $2.32B and a beta (3y monthly) value of 1.31. The earnings-per-share (ttm) stands at -$0.01. Price movements for the stock have been influenced by the stock’s volatility, which stands at 2.82% over the week and 4.75% over the month.

Analysts forecast that Pacira BioSciences Inc. (PCRX) will achieve an EPS of $0.01 for the current quarter, $0.52 for the next quarter and $3.46 for 2021. The lowest estimate earnings-per-share for the quarter is -$0.29 while analysts give the company a high EPS estimate of $0.34. Comparatively, EPS for the current quarter was $0.41 a year ago. Earnings per share for the fiscal year are expected to increase by 15.60%, and 82.72% over the next financial year. EPS should grow at an annualized rate of 42.80% over the next five years, compared to 7.30% over the past 5-year period.

If you are looking to buy this stock, then you may note that the average analyst recommendation by 14 brokerage firm advisors rate Pacira BioSciences Inc. (PCRX) as a “Moderate Buy” at a consensus score of 2.10. Specifically, 9 Wall Street analysts polled rate the stock as a buy, while 5 of the 14 advise that investors “hold,” and 0 rated it as a “Sell.”

Looking at the support for the PCRX, a number of firms have released research notes about the stock. Needham stated their Buy rating for the stock in a research note on July 06, 2020, with the firm’s price target at $52-$64. Guggenheim coverage for the Pacira BioSciences Inc. (PCRX) stock in a research note released on May 27, 2020 offered a Neutral rating with a price target of. Northland Capital was of a view on April 07, 2020 that the stock is Outperform, while SVB Leerink gave the stock Outperform rating on March 20, 2020, issuing a price target of $44. H.C. Wainwright on their part issued Buy rating on February 24, 2020.

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