Pacira BioSciences (NASDAQ:PCRX) Price Target Raised to $15.00

Pacira BioSciences (NASDAQ:PCRX) had its price objective increased by Royal Bank of Canada from $14.00 to $15.00 in a report released on Friday, Benzinga reports. They currently have a sector perform rating on the stock.

A number of other research firms have also recently issued reports on PCRX. StockNews.com cut Pacira BioSciences from a strong-buy rating to a buy rating in a research note on Monday, August 12th. Truist Financial cut Pacira BioSciences from a buy rating to a sell rating and decreased their target price for the company from $30.00 to $8.00 in a research note on Tuesday, August 13th. Piper Sandler cut 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. Barclays cut Pacira BioSciences from an overweight rating to an equal weight rating and reduced their price objective for the stock from $38.00 to $25.00 in a research report on Wednesday, July 3rd. Finally, Raymond James cut Pacira BioSciences from an outperform rating to a market perform rating 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 five have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of Hold and a consensus target price of $24.20.

Pacira BioSciences Stock Down 3.2 %

Shares of Pacira BioSciences stock opened at $15.99 on Friday. 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 has a 12 month low of $11.16 and a 12 month high of $35.95. The business has a fifty day simple moving average of $15.31 and a 200 day simple moving average of $22.78. The stock has a market cap of $737.62 million, a PE ratio of 11.18 and a beta of 0.84.

Pacira BioSciences (NASDAQ:PCRX) last posted its earnings results on Tuesday, July 30th. The company reported $0.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.53 by $0.11. Pacira BioSciences had a return on equity of 13.22% and a net margin of 9.21%. The firm had revenue of $178.02 million during the quarter, compared to analysts’ expectations of $173.31 million. Research analysts predict that Pacira BioSciences will post 2.24 EPS for the current year.

Insider Transactions at Pacira BioSciences

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 shares were acquired at an average price 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. This represents a 0.00 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last quarter, insiders have bought 11,176 shares of company stock worth $136,240. Company insiders own 6.40% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Vanguard Group Inc. raised its position in Pacira BioSciences by 0.3% during the 1st quarter. Vanguard Group Inc. now owns 5,113,384 shares of the company’s stock worth $149,413,000 after purchasing an additional 14,960 shares during the last quarter. Pacer Advisors Inc. raised its position in Pacira BioSciences by 37.5% during the 2nd quarter. Pacer Advisors Inc. now owns 2,162,787 shares of the company’s stock worth $61,877,000 after purchasing an additional 590,082 shares during the last quarter. Frontier Capital Management Co. LLC raised its position in Pacira BioSciences by 15.8% during the 4th quarter. Frontier Capital Management Co. LLC now owns 2,084,542 shares of the company’s stock worth $70,332,000 after purchasing an additional 285,045 shares during the last quarter. Renaissance Technologies LLC raised its position in Pacira BioSciences by 9.8% during the 2nd quarter. Renaissance Technologies LLC now owns 2,066,197 shares of the company’s stock worth $59,114,000 after purchasing an additional 184,000 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its position in Pacira BioSciences by 12.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,828,065 shares of the company’s stock worth $52,300,000 after purchasing an additional 198,936 shares during the last quarter. 99.73% of the stock is currently 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.