Pacira BioSciences (NASDAQ:PCRX) Trading 6.7% Higher

Pacira BioSciences, Inc. (NASDAQ:PCRX)’s share price traded up 6.7% during mid-day trading on Tuesday . The company traded as high as $14.42 and last traded at $14.40. 410,287 shares traded hands during mid-day trading, a decline of 53% from the average session volume of 882,074 shares. The stock had previously closed at $13.49.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Piper Sandler cut shares of Pacira BioSciences from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $42.00 to $11.00 in a research report on Monday, August 12th. Truist Financial downgraded shares of Pacira BioSciences from a “buy” rating to a “sell” rating and reduced their price target for the stock from $30.00 to $8.00 in a research report on Tuesday, August 13th. Barclays cut Pacira BioSciences from an “overweight” rating to an “equal weight” rating and lowered their price objective for the stock from $38.00 to $25.00 in a report on Wednesday, July 3rd. StockNews.com lowered Pacira BioSciences from a “strong-buy” rating to a “buy” rating in a research note on Monday, August 12th. Finally, Royal Bank of Canada downgraded 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. Two research 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 data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $24.78.

Pacira BioSciences Stock Up 6.3 %

The business has a 50-day moving average price of $17.01 and a 200-day moving average price of $24.37. The firm has a market capitalization of $667.70 million, a PE ratio of 10.07 and a beta of 0.84. 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 (NASDAQ:PCRX) last posted its quarterly earnings results on Tuesday, July 30th. The company reported $0.64 EPS for the quarter, topping the consensus estimate of $0.53 by $0.11. Pacira BioSciences had a return on equity of 13.22% and a net margin of 9.21%. The business had revenue of $178.02 million for the quarter, compared to analyst estimates of $173.31 million. Equities research analysts forecast that Pacira BioSciences, Inc. will post 2.24 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Jonathan Slonin sold 2,836 shares of the stock in a transaction that occurred on Tuesday, July 2nd. The stock was sold at an average price of $28.25, for a total value of $80,117.00. Following the completion of the transaction, the insider now directly owns 95,557 shares in the company, valued at $2,699,485.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CEO Frank D. Lee acquired 8,264 shares of the firm’s stock in a transaction dated Monday, August 12th. The shares were purchased at an average cost of $12.10 per share, for a total transaction of $99,994.40. Following the acquisition, the chief executive officer now owns 107,784 shares in the company, valued at approximately $1,304,186.40. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Jonathan Slonin sold 2,836 shares of the stock in a transaction that occurred on Tuesday, July 2nd. The stock was sold at an average price of $28.25, for a total transaction of $80,117.00. Following the transaction, the insider now directly owns 95,557 shares of the company’s stock, valued at approximately $2,699,485.25. The disclosure for this sale can be found here. In the last 90 days, insiders have bought 11,176 shares of company stock valued at $136,240 and have sold 4,281 shares valued at $105,494. Corporate insiders own 6.40% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in PCRX. ICA Group Wealth Management LLC purchased a new stake in shares of Pacira BioSciences in the 4th quarter valued at $30,000. GAMMA Investing LLC increased its stake in Pacira BioSciences by 229.6% during the second quarter. GAMMA Investing LLC now owns 1,338 shares of the company’s stock worth $38,000 after purchasing an additional 932 shares during the period. Park Place Capital Corp acquired a new stake in shares of Pacira BioSciences during the second quarter worth about $46,000. Innealta Capital LLC purchased a new position in shares of Pacira BioSciences in the second quarter valued at approximately $50,000. Finally, nVerses Capital LLC grew its holdings in shares of Pacira BioSciences by 800.0% in the second quarter. nVerses Capital LLC now owns 1,800 shares of the company’s stock valued at $51,000 after purchasing an additional 1,600 shares in the last quarter. 99.73% of the stock is currently owned by institutional investors and hedge funds.

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.