Pacira BioSciences (NASDAQ:PCRX) Price Target Lowered to $38.00 at Barclays

Pacira BioSciences (NASDAQ:PCRX) had its target price decreased by Barclays from $40.00 to $38.00 in a report published on Wednesday morning, Benzinga reports. Barclays currently has an overweight rating on the stock.

Several other equities research analysts also recently commented on the company. Wedbush reiterated an outperform rating and issued a $57.00 price objective on shares of Pacira BioSciences in a report on Thursday, February 8th. HC Wainwright reissued a buy rating and issued a $57.00 target price on shares of Pacira BioSciences in a research report on Monday, March 4th. Royal Bank of Canada dropped their target price on Pacira BioSciences from $53.00 to $45.00 and set an outperform rating on the stock in a research report on Friday, March 1st. TheStreet raised Pacira BioSciences from a d+ rating to a c rating in a research report on Thursday, February 29th. Finally, JPMorgan Chase & Co. started coverage on Pacira BioSciences in a research report on Thursday, March 7th. They issued an overweight rating and a $45.00 target price on the stock. Eleven research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has a consensus rating of Buy and an average target price of $47.40.

Pacira BioSciences Stock Up 1.5 %

Shares of NASDAQ:PCRX traded up $0.43 on Wednesday, hitting $30.08. 213,576 shares of the company traded hands, compared to its average volume of 502,551. Pacira BioSciences has a 52 week low of $25.33 and a 52 week high of $43.50. The company has a quick ratio of 4.17, a current ratio of 5.24 and a debt-to-equity ratio of 0.59. The stock has a 50 day simple moving average of $28.27 and a 200-day simple moving average of $29.51. The company has a market cap of $1.40 billion, a PE ratio of 36.60 and a beta of 0.77.

Pacira BioSciences (NASDAQ:PCRX) last released its quarterly earnings data on Thursday, February 29th. The company reported $0.71 EPS for the quarter, hitting the consensus estimate of $0.71. Pacira BioSciences had a return on equity of 12.81% and a net margin of 6.22%. The company had revenue of $181.24 million during the quarter, compared to the consensus estimate of $180.60 million. As a group, research analysts expect that Pacira BioSciences will post 2.17 earnings per share for the current year.

Insider Activity

In other news, Director Gary W. Pace sold 90,000 shares of Pacira BioSciences stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $30.60, for a total transaction of $2,754,000.00. Following the transaction, the director now directly owns 22,127 shares of the company’s stock, valued at approximately $677,086.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, Director Gary W. Pace sold 1,066 shares of the business’s stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $29.67, for a total value of $31,628.22. Following the transaction, the director now directly owns 140,384 shares of the company’s stock, valued at approximately $4,165,193.28. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Gary W. Pace sold 90,000 shares of the business’s stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $30.60, for a total value of $2,754,000.00. Following the completion of the transaction, the director now directly owns 22,127 shares in the company, valued at $677,086.20. The disclosure for this sale can be found here. Insiders own 6.60% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. abrdn plc lifted its holdings in Pacira BioSciences by 14.3% in the 4th quarter. abrdn plc now owns 448,691 shares of the company’s stock worth $15,139,000 after purchasing an additional 56,081 shares in the last quarter. Gradient Investments LLC increased its stake in Pacira BioSciences by 33.0% in the 4th quarter. Gradient Investments LLC now owns 139,949 shares of the company’s stock worth $4,722,000 after acquiring an additional 34,723 shares during the last quarter. Gotham Asset Management LLC increased its stake in Pacira BioSciences by 16.8% in the 3rd quarter. Gotham Asset Management LLC now owns 22,317 shares of the company’s stock worth $685,000 after acquiring an additional 3,203 shares during the last quarter. Assenagon Asset Management S.A. increased its stake in Pacira BioSciences by 185.2% in the 4th quarter. Assenagon Asset Management S.A. now owns 246,621 shares of the company’s stock worth $8,321,000 after acquiring an additional 160,149 shares during the last quarter. Finally, Boston Partners increased its stake in Pacira BioSciences by 105.4% in the 3rd quarter. Boston Partners now owns 108,509 shares of the company’s stock worth $3,329,000 after acquiring an additional 55,679 shares during the last quarter. 99.73% of the stock is 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.