HC Wainwright Lowers Pacira BioSciences (NASDAQ:PCRX) Price Target to $39.00

Pacira BioSciences (NASDAQ:PCRX) had its price objective cut by investment analysts at HC Wainwright from $57.00 to $39.00 in a research note issued on Monday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. HC Wainwright’s price target suggests a potential upside of 214.52% from the company’s previous close.

Several other equities analysts also recently issued reports on the company. Truist Financial cut their target price on Pacira BioSciences from $45.00 to $30.00 and set a “buy” rating on the stock in a research report on Thursday, July 25th. Barclays lowered shares of Pacira BioSciences from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $38.00 to $25.00 in a report on Wednesday, July 3rd. Piper Sandler reaffirmed an “overweight” rating and issued a $42.00 price target on shares of Pacira BioSciences in a report on Wednesday, July 3rd. StockNews.com raised shares of Pacira BioSciences from a “buy” rating to a “strong-buy” rating in a report on Thursday, August 1st. Finally, Royal Bank of Canada lowered their price target on shares of Pacira BioSciences from $42.00 to $37.00 and set an “outperform” rating on the stock in a report on Wednesday, July 31st. Two 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. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $24.78.

Pacira BioSciences Price Performance

NASDAQ PCRX opened at $12.40 on Monday. The company has a debt-to-equity ratio of 0.67, a current ratio of 6.82 and a quick ratio of 5.70. The stock’s fifty day moving average price is $23.26 and its 200 day moving average price is $27.08. Pacira BioSciences has a 1 year low of $11.16 and a 1 year high of $38.23. The company has a market cap of $577.17 million, a price-to-earnings ratio of 8.67 and a beta of 0.88.

Insider Transactions at Pacira BioSciences

In other news, CEO Frank D. Lee bought 8,264 shares of the stock in a transaction dated Monday, August 12th. The shares were acquired at an average cost of $12.10 per share, with a total value of $99,994.40. Following the purchase, the chief executive officer now directly owns 107,784 shares in the company, valued at approximately $1,304,186.40. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In related news, CEO Frank D. Lee purchased 8,264 shares of Pacira BioSciences stock in a transaction that occurred on Monday, August 12th. The stock was purchased at an average price of $12.10 per share, for a total transaction of $99,994.40. Following the transaction, the chief executive officer now directly owns 107,784 shares in the company, valued at $1,304,186.40. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, COO Daryl Gaugler sold 1,000 shares of the company’s stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $28.38, for a total transaction of $28,380.00. Following the transaction, the chief operating officer now owns 116,040 shares of the company’s stock, valued at approximately $3,293,215.20. The disclosure for this sale can be found here. Insiders have sold a total of 22,095 shares of company stock valued at $621,118 in the last ninety days. 6.40% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. ICA Group Wealth Management LLC acquired a new position in shares of Pacira BioSciences during the 4th quarter worth about $30,000. GAMMA Investing LLC raised 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 valued at $38,000 after acquiring an additional 932 shares during the last quarter. Park Place Capital Corp acquired a new stake in Pacira BioSciences in the 2nd quarter valued at about $46,000. Innealta Capital LLC acquired a new stake in Pacira BioSciences in the 2nd quarter valued at about $50,000. Finally, nVerses Capital LLC raised its holdings in Pacira BioSciences by 800.0% in the 2nd 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 during the last quarter. Institutional investors and hedge funds own 99.73% of the company’s stock.

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.