Barclays Cuts Pacira BioSciences (NASDAQ:PCRX) Price Target to $17.00

Pacira BioSciences (NASDAQ:PCRX) had its target price cut by Barclays from $25.00 to $17.00 in a research report report published on Tuesday morning,Benzinga reports. They currently have an equal weight rating on the stock.

Several other equities analysts have also weighed in on the stock. Piper Sandler lowered shares of Pacira BioSciences from an “overweight” rating to a “neutral” rating and dropped their price objective for the company from $42.00 to $11.00 in a report on Monday, August 12th. Truist Financial cut Pacira BioSciences from a “buy” rating to a “sell” rating and reduced their price objective for the company from $30.00 to $8.00 in a research note on Tuesday, August 13th. Royal Bank of Canada upped their target price on Pacira BioSciences from $15.00 to $16.00 and gave the stock a “sector perform” rating in a research report on Thursday, November 7th. HC Wainwright reduced their price target on shares of Pacira BioSciences from $57.00 to $39.00 and set a “buy” rating for the company in a research report on Monday, August 12th. Finally, Jefferies Financial Group upped their price objective on shares of Pacira BioSciences from $15.00 to $18.00 and gave the stock a “buy” rating in a report on Tuesday, September 24th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, Pacira BioSciences currently has a consensus rating of “Hold” and a consensus target price of $23.50.

Pacira BioSciences Stock Performance

Shares of PCRX stock traded down $0.01 during mid-day trading on Tuesday, reaching $16.36. 68,139 shares of the stock traded hands, compared to its average volume of 853,912. The stock’s fifty day simple moving average is $15.72 and its two-hundred day simple moving average is $20.78. Pacira BioSciences has a 1-year low of $11.16 and a 1-year high of $35.95. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.89 and a current ratio of 2.25.

Hedge Funds Weigh In On Pacira BioSciences

Several hedge funds and other institutional investors have recently modified their holdings of PCRX. GAMMA Investing LLC lifted its holdings in Pacira BioSciences by 229.6% in the 2nd quarter. GAMMA Investing LLC now owns 1,338 shares of the company’s stock worth $38,000 after purchasing an additional 932 shares in the last quarter. Park Place Capital Corp purchased a new stake in Pacira BioSciences in the 2nd quarter valued at about $46,000. Innealta Capital LLC purchased a new stake in shares of Pacira BioSciences in the second quarter valued at approximately $50,000. nVerses Capital LLC grew its position in shares of Pacira BioSciences by 800.0% during the 2nd quarter. nVerses Capital LLC now owns 1,800 shares of the company’s stock worth $51,000 after buying an additional 1,600 shares in the last quarter. Finally, Natixis bought a new position in Pacira BioSciences during the 1st quarter worth about $95,000. 99.73% of the stock is owned by institutional investors.

Pacira BioSciences Company Profile

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.