Barclays Lowers Pacira BioSciences (NASDAQ:PCRX) Price Target to $17.00

Pacira BioSciences (NASDAQ:PCRX) had its target price decreased by analysts at Barclays from $25.00 to $17.00 in a research report issued on Tuesday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Barclays‘s target price would indicate a potential upside of 0.65% from the stock’s current price.

A number of other research firms have also commented on PCRX. Piper Sandler lowered shares of Pacira BioSciences from an “overweight” rating to a “neutral” rating and dropped their price objective for the company from $42.00 to $11.00 in a research note on Monday, August 12th. Jefferies Financial Group raised their price target on Pacira BioSciences from $15.00 to $18.00 and gave the stock a “buy” rating in a report on Tuesday, September 24th. StockNews.com downgraded Pacira BioSciences from a “strong-buy” rating to a “buy” rating in a research note on Monday, August 12th. Raymond James downgraded Pacira BioSciences from an “outperform” rating to a “market perform” rating in a research note on Monday, August 12th. Finally, Truist Financial lowered Pacira BioSciences from a “buy” rating to a “sell” rating and dropped their target price for the company from $30.00 to $8.00 in a report on Tuesday, August 13th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $23.50.

Pacira BioSciences Stock Performance

Shares of Pacira BioSciences stock traded down $0.61 during trading on Tuesday, reaching $16.89. The company’s stock had a trading volume of 66,418 shares, compared to its average volume of 857,305. The company has a 50-day moving average price of $15.66 and a two-hundred day moving average price of $20.87. Pacira BioSciences has a fifty-two week low of $11.16 and a fifty-two week high of $35.95. The firm has a market cap of $779.81 million, a PE ratio of -8.50 and a beta of 0.82. The company has a current ratio of 2.25, a quick ratio of 5.70 and a debt-to-equity ratio of 0.51.

Institutional Investors Weigh In On Pacira BioSciences

Several institutional investors and hedge funds have recently made changes to their positions in PCRX. Allspring Global Investments Holdings LLC increased its stake in shares of Pacira BioSciences by 114.3% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 10,188 shares of the company’s stock worth $298,000 after purchasing an additional 5,433 shares in the last quarter. Texas Permanent School Fund Corp raised its stake in Pacira BioSciences by 1.4% in the 1st quarter. Texas Permanent School Fund Corp now owns 40,642 shares of the company’s stock valued at $1,188,000 after purchasing an additional 543 shares during the last quarter. SG Americas Securities LLC purchased a new position in Pacira BioSciences in the 1st quarter valued at about $106,000. Inspire Investing LLC boosted its stake in shares of Pacira BioSciences by 5.9% during the 1st quarter. Inspire Investing LLC now owns 12,131 shares of the company’s stock worth $354,000 after purchasing an additional 675 shares during the last quarter. Finally, QRG Capital Management Inc. boosted its stake in shares of Pacira BioSciences by 42.0% during the 1st quarter. QRG Capital Management Inc. now owns 22,708 shares of the company’s stock worth $664,000 after purchasing an additional 6,721 shares during the last quarter. 99.73% of the stock is currently owned by hedge funds and other 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.