Pacira BioSciences (NASDAQ:PCRX) Shares Up 4.6%

Shares of Pacira BioSciences, Inc. (NASDAQ:PCRX) rose 4.6% on Monday . The company traded as high as $13.59 and last traded at $13.54. Approximately 76,095 shares changed hands during mid-day trading, a decline of 91% from the average daily volume of 859,901 shares. The stock had previously closed at $12.94.

Analysts Set New Price Targets

PCRX has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. reiterated an “underweight” rating and issued a $10.00 target price (down previously from $45.00) on shares of Pacira BioSciences in a research report on Monday, August 12th. Royal Bank of Canada lowered shares of Pacira BioSciences from an “outperform” rating to a “sector perform” rating and decreased their target price for the company from $37.00 to $14.00 in a research report on Monday, August 12th. Barclays lowered shares of 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. Piper Sandler lowered shares of 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. Finally, HC Wainwright decreased their target price 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. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $24.78.

Pacira BioSciences Stock Up 7.5 %

The company has a quick ratio of 5.70, a current ratio of 6.82 and a debt-to-equity ratio of 0.67. The company has a market capitalization of $641.67 million, a PE ratio of 9.53 and a beta of 0.88. The business’s 50 day simple moving average is $22.28 and its 200 day simple moving average is $26.66.

Insider Buying and Selling at Pacira BioSciences

In related news, CEO Frank D. Lee purchased 8,264 shares of Pacira BioSciences stock in a transaction dated Monday, August 12th. The stock was acquired at an average cost of $12.10 per share, with a total value of $99,994.40. Following the completion of the transaction, the chief executive officer now directly owns 107,784 shares of the company’s stock, valued at $1,304,186.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Frank D. Lee purchased 8,264 shares of Pacira BioSciences stock in a transaction dated Monday, August 12th. The stock was acquired at an average cost of $12.10 per share, with a total value of $99,994.40. Following the completion of the transaction, the chief executive officer now directly owns 107,784 shares of the company’s stock, valued at $1,304,186.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Lauren Riker sold 3,970 shares of the firm’s stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $28.72, for a total transaction of $114,018.40. Following the transaction, the senior vice president now directly owns 38,075 shares in the company, valued at approximately $1,093,514. The disclosure for this sale can be found here. Over the last ninety days, insiders bought 11,176 shares of company stock valued at $136,240 and sold 22,095 shares valued at $621,118. Insiders own 6.40% of the company’s stock.

Hedge Funds Weigh In On Pacira BioSciences

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PCRX. Vestal Point Capital LP bought a new position in Pacira BioSciences during the fourth quarter valued at approximately $40,488,000. Pacer Advisors Inc. raised its position in Pacira BioSciences by 37.5% during the second quarter. Pacer Advisors Inc. now owns 2,162,787 shares of the company’s stock valued at $61,877,000 after acquiring an additional 590,082 shares in the last quarter. Archon Capital Management LLC acquired a new position in Pacira BioSciences during the first quarter valued at approximately $15,677,000. Fort Washington Investment Advisors Inc. OH acquired a new position in Pacira BioSciences during the second quarter valued at approximately $13,240,000. Finally, Frontier Capital Management Co. LLC grew its holdings in Pacira BioSciences by 15.8% during the fourth quarter. Frontier Capital Management Co. LLC now owns 2,084,542 shares of the company’s stock valued at $70,332,000 after purchasing an additional 285,045 shares during the last quarter. Institutional investors own 99.73% of the company’s stock.

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.