Needham maintained its Pacira BioSciences [PCRX] rating to the equivalent of Buy but changed the price target to $76.0 from $67, in a research note dated 2021-01-08. That figure represents around a 12.31% premium from where the company’s shares closed on Thursday. Other analysts also revised their coverage, with Needham’s analysts reiterating the shares to “a Buy” rating in a research note to investors issued in early July. Meanwhile, Guggenheim had launched its coverage on PCRX with “Neutral”, in a research note produced for clients May 27, 2020. In addition, Northland Capital launched coverage on April 07, 2020. The research firm rated PCRX “an Outperform”.
Is Pacira BioSciences Inc. [NASDAQ:PCRX] a Good Buy Right Now?
It should be noted that PCRX technical indicators for short, intermediate as well as long term progress have placed an overall average of 100% as Buy. The average signal changed from 48% Buy in the last week and compares with 72% Buy in the past month. Data from Pacira BioSciences Inc.’s Trend Spotter indicated that the signals were Strongest. The stock current average is 0.48 million shares in the past 20 days and the short term average signal indicates a 100% Buy. In the last 50 days, the average trading volume was 0.47 million shares while the medium term average advocated for 100% Buy. The average long-term signal stands at 100% Buy and the 100-day average volume stands at 0.45 million shares.
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PCRX Price Performance
On Wall Street, Pacira BioSciences Inc. [NASDAQ:PCRX] finished Thursday’s session up 7.50% at $67.67. The stock went up to $70.085 at the same session while its lowest single day price was $63.3348. In the last five days, it saw a rise of about 15.26%, Pacira BioSciences Inc. shares gained by almost 13.08% since the beginning of the year. However, the share price has dropped to as low as -0.60% below its one year high. On 01/07/21, the company shares recorded $70.08, the highest single-day price it has got to in the last 52-weeks and a 52-week low was seen on 01/04/21, the same year at $57.72. The company’s shares have inclined by 57.01% in the past year. The 50-day SMA achieved is $59.45 while the 200-day SMA is $52.56. Volume gained to 1.36 million from 0.79 million in the previous session.
Pacira BioSciences Inc. [PCRX] Valuation Measures
Notably, Pacira BioSciences Inc. [PCRX] stock can be classified as a good candidate in the listing of underestimated low-priced Drug Manufacturers – Specialty & Generic companies to purchase soonest possible with the prevailing 12-month PE ratio of 23.83. The measure means the stock is exchanging at a discount as compared to the 24.75x trailing earnings of the industry. It can be helpful for investors to consider historical price-sales ratio, more specifically, a 6.85 PS value ratio is reported for the last one year of reported earnings. That is higher than the industry average of 2.92 which means PCRX serve an attractive investment opportunity compared to its competitors.
PCRX Stock Support And Resistance Levels
On the 24-hour scale, the immediate backing is perceived around 63.97 level, and in case of violation of this particular level, it will cause more drop to 60.28 level. On the upper level, 73.78 is still the key resistance. The stock may increase to the subsequent resistance at 70.73. The Relative Strength Index (RSI) pinned on the 14-day chart is 71.75, implying a overbought technical stance while the MACD stands at 3.58, meaning price will increase in the next trading period. Percent R indicator moved to 18.05%, implying bullish price movement. Stochastic %K at 84.44% suggest selling the stock.
What is the short interest in Pacira BioSciences Inc.?
Short interest in the Pacira BioSciences Inc. stock has plunged, decreasing by -0.27 million shares to total 6.21 million shares on Dec 14, 2020. The interest had seen shares on Nov 12, 2020 stand at 5.94 million, data from Yahoo Finance shows. The increase of 4.35% suggests the stock saw some increased bearish sentiment. The stock’s days to cover (short ratio) moved to while the shorted shares account for just 20.09% of the overall float for the stock.
Pacira BioSciences Inc.’s Biggest Shareholders: Who Owns Pacira BioSciences Inc. [PCRX]?
Filings by BlackRock Fund Advisors showed that the firm now holds a total of 6,242,824 shares or roughly 14.37% of the outstanding PCRX shares. This means their shares have reduced by -178,764 from the 6,242,824 the investor reportedly held in its prior 13-F filing. With the conclusion of the sale, The Vanguard Group, Inc. updated stake is worth $252,035,678. Details in the latest 13F filings reveal that Renaissance Technologies LLC disposed off their -2.48% stake valued at $168,446,077 while Macquarie Investment Management B added theirs at $148,124,373. During the last quarter, Renaissance Technologies LLC liquidated -70,700 of its shares in Pacira BioSciences Inc. while Macquarie Investment Management B bought 420,314 shares. The Spyglass Capital Management LLC’s holdings currently number 1,812,877 shares at $122677386.59. According to the firm’s last 13F report, Baillie Gifford & Co. shares in the company at filing stood at 1,758,989 shares, roughly $106,577,144.
PCRX Earnings Forecast For The Current Quarter
Pacira BioSciences Inc. [PCRX] is expected to report strong earnings results for the quarter ending on Dec 2020. Consensus estimates give the company expected revenues of $129.61M and an earnings per share of $0.78 for Dec 2020. Looking further ahead, the company is expected to report revenue of $121.76M at an EPS of $0.69 for Mar 2021. The estimates represent upside of 25.60% and 68.60% in the company’s revenue and earnings per share, respectively, on a year-on-year basis.
PCRX Earnings Estimates For The Current Year
For the financial year, Pacira BioSciences Inc. [NASDAQ:PCRX] is expected to bring in revenue of $428.34M. The returns are nearly $7.31 million higher than the company’s actual revenue recorded in the fiscal year 2019. In terms of EPS for the 2020, estimate put it at 2.1, higher than that of FY19 by $0.43. Estimates put this year’s earnings growth at 25.70%, 70.00% for the next, and at an annual 30.00% over the next 5-year period. As for sales, forecasts are for an increase of 1.70% in the current fiscal year and a further 25.60% over the following year.