Pacira BioSciences, Inc. (NASDAQ:PCRX) Receives Consensus Recommendation of “Hold” from Analysts

Shares of Pacira BioSciences, Inc. (NASDAQ:PCRX) have received an average rating of “Hold” from the ten brokerages that are covering the stock, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $24.20.

A number of equities research analysts recently issued reports on PCRX shares. Needham & Company LLC reduced their price target on Pacira BioSciences from $43.00 to $22.00 and set a “buy” rating on the stock in a research report on Monday, August 12th. JPMorgan Chase & Co. restated an “underweight” rating and set a $10.00 price objective (down from $45.00) on shares of Pacira BioSciences in a research report on Monday, August 12th. Piper Sandler cut Pacira BioSciences from an “overweight” rating to a “neutral” rating and decreased their target price for the company from $42.00 to $11.00 in a research report on Monday, August 12th. HC Wainwright dropped their target price on shares of Pacira BioSciences from $57.00 to $39.00 and set a “buy” rating for the company in a report on Monday, August 12th. Finally, StockNews.com lowered shares of Pacira BioSciences from a “strong-buy” rating to a “buy” rating in a report on Monday, August 12th.

Insider Activity

In other news, CEO Frank D. Lee bought 8,264 shares of the firm’s stock in a transaction on Monday, August 12th. The stock was acquired at an average price of $12.10 per share, with a total value of $99,994.40. Following the transaction, the chief executive officer now owns 107,784 shares of the company’s stock, valued at $1,304,186.40. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders bought 11,176 shares of company stock valued at $136,240 over the last quarter. 6.40% of the stock is owned by company insiders.

Institutional Trading of Pacira BioSciences

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. GAMMA Investing LLC lifted its position in shares of Pacira BioSciences by 229.6% during the 2nd quarter. GAMMA Investing LLC now owns 1,338 shares of the company’s stock valued at $38,000 after acquiring an additional 932 shares during the period. Park Place Capital Corp acquired a new position in Pacira BioSciences during the 2nd quarter worth approximately $46,000. Innealta Capital LLC acquired a new stake in Pacira BioSciences in the second quarter valued at approximately $50,000. nVerses Capital LLC increased its holdings in shares of Pacira BioSciences by 800.0% during the second quarter. nVerses Capital LLC now owns 1,800 shares of the company’s stock valued at $51,000 after acquiring an additional 1,600 shares in the last quarter. Finally, Natixis acquired a new position in shares of Pacira BioSciences during the first quarter worth approximately $95,000. Institutional investors and hedge funds own 99.73% of the company’s stock.

Pacira BioSciences Price Performance

NASDAQ:PCRX opened at $16.45 on Tuesday. The firm has a market capitalization of $758.84 million, a price-to-earnings ratio of 12.56 and a beta of 0.82. The company has a quick ratio of 5.70, a current ratio of 6.82 and a debt-to-equity ratio of 0.67. Pacira BioSciences has a 12-month low of $11.16 and a 12-month high of $35.95. The stock’s 50 day moving average price is $15.43 and its two-hundred day moving average price is $21.18.

About Pacira BioSciences

Pacira BioSciences, Inc engages in the development, manufacture, marketing, distribution, and sale of non-opioid pain management and regenerative health solutions to healthcare practitioners 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 to targeted nerves.