Pacira BioSciences (NASDAQ:PCRX) Price Target Lowered to $37.00 at Raymond James

Pacira BioSciences (NASDAQ:PCRX) had its target price reduced by Raymond James from $41.00 to $37.00 in a research report released on Wednesday morning, Benzinga reports. Raymond James currently has an outperform rating on the stock.

A number of other brokerages have also commented on PCRX. Piper Sandler reaffirmed an overweight rating and issued a $42.00 target price on shares of Pacira BioSciences in a research report on Wednesday, July 3rd. Barclays lowered Pacira BioSciences from an overweight rating to an equal weight rating and decreased their target price for the company from $38.00 to $25.00 in a research report on Wednesday, July 3rd. HC Wainwright reaffirmed a buy rating and issued a $57.00 target price on shares of Pacira BioSciences in a research report on Tuesday, July 2nd. Needham & Company LLC reiterated a buy rating and set a $43.00 price target on shares of Pacira BioSciences in a research note on Wednesday. Finally, Royal Bank of Canada cut their price target on Pacira BioSciences from $42.00 to $37.00 and set an outperform rating for the company in a research note on Wednesday. One analyst has rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of Moderate Buy and a consensus price target of $42.30.

Pacira BioSciences Stock Performance

PCRX stock opened at $20.65 on Wednesday. The stock has a 50-day moving average price of $25.39 and a 200-day moving average price of $27.98. Pacira BioSciences has a 1-year low of $19.34 and a 1-year high of $40.16. The company has a current ratio of 5.81, a quick ratio of 4.78 and a debt-to-equity ratio of 0.57. The firm has a market cap of $961.26 million, a PE ratio of 14.44 and a beta of 0.88.

Pacira BioSciences (NASDAQ:PCRX) last issued its earnings results on Tuesday, May 7th. The company reported $0.42 EPS for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.04). Pacira BioSciences had a net margin of 9.21% and a return on equity of 13.27%. The firm had revenue of $167.12 million during the quarter, compared to the consensus estimate of $165.43 million. As a group, equities research analysts expect that Pacira BioSciences will post 2.13 earnings per share for the current year.

Insider Buying and Selling

In related news, SVP Lauren Riker sold 3,970 shares of Pacira BioSciences stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $28.72, for a total value of $114,018.40. Following the sale, the senior vice president now owns 38,075 shares of the company’s stock, valued at approximately $1,093,514. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Pacira BioSciences news, insider Jonathan Slonin sold 2,836 shares of the business’s stock in a transaction on Tuesday, July 2nd. The shares were sold at an average price of $28.25, for a total transaction of $80,117.00. Following the sale, the insider now owns 95,557 shares of the company’s stock, valued at approximately $2,699,485.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Lauren Riker sold 3,970 shares of the stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $28.72, for a total value of $114,018.40. Following the completion of the sale, the senior vice president now owns 38,075 shares in the company, valued at approximately $1,093,514. The disclosure for this sale can be found here. In the last quarter, insiders have sold 21,150 shares of company stock valued at $602,170. 6.40% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Lisanti Capital Growth LLC bought a new position in shares of Pacira BioSciences during the second quarter valued at about $3,972,000. nVerses Capital LLC grew its stake 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 buying an additional 1,600 shares during the last quarter. Rothschild Investment LLC bought a new position in shares of Pacira BioSciences during the second quarter valued at about $2,088,000. Outfitter Financial LLC grew its stake in shares of Pacira BioSciences by 5.7% during the second quarter. Outfitter Financial LLC now owns 20,190 shares of the company’s stock valued at $578,000 after buying an additional 1,095 shares during the last quarter. Finally, Fort Washington Investment Advisors Inc. OH bought a new position in shares of Pacira BioSciences during the second quarter valued at about $13,240,000. 99.73% of the stock is owned by institutional investors.

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.