Barclays Lowers Pacira BioSciences (NASDAQ:PCRX) Price Target to $25.00

Pacira BioSciences (NASDAQ:PCRX) had its price objective lowered by stock analysts at Barclays from $27.00 to $25.00 in a research note issued to investors on Thursday,Benzinga reports. The firm presently has an “equal weight” rating on the stock. Barclays‘s price target would indicate a potential upside of 6.70% from the stock’s previous close.

Other equities research analysts have also recently issued research reports about the company. Wall Street Zen cut Pacira BioSciences from a “strong-buy” rating to a “buy” rating in a report on Saturday, February 28th. Zacks Research lowered Pacira BioSciences from a “hold” rating to a “strong sell” rating in a report on Monday, March 9th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Pacira BioSciences in a research note on Monday, December 29th. HC Wainwright reiterated a “buy” rating and set a $38.00 price target on shares of Pacira BioSciences in a research report on Friday, January 9th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $30.00 price target on shares of Pacira BioSciences in a research note on Friday, January 9th. Three analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, Pacira BioSciences has an average rating of “Hold” and a consensus price target of $30.25.

Pacira BioSciences Stock Down 0.3%

Pacira BioSciences stock opened at $23.43 on Thursday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 3.28 and a current ratio of 4.54. Pacira BioSciences has a one year low of $18.80 and a one year high of $27.64. The company has a 50-day simple moving average of $21.75 and a 200-day simple moving average of $23.42. The firm has a market capitalization of $948.68 million, a P/E ratio of 158.26 and a beta of 0.21.

Pacira BioSciences (NASDAQ:PCRX) last issued its quarterly earnings data on Thursday, February 26th. The company reported $0.57 earnings per share for the quarter, missing the consensus estimate of $0.85 by ($0.28). The firm had revenue of $196.87 million during the quarter, compared to the consensus estimate of $201.93 million. Pacira BioSciences had a net margin of 0.97% and a return on equity of 10.39%. The company’s revenue for the quarter was up 5.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.91 earnings per share. As a group, equities analysts expect that Pacira BioSciences will post 2.41 earnings per share for the current year.

Insider Activity at Pacira BioSciences

In related news, insider Jonathan Slonin sold 3,261 shares of the firm’s stock in a transaction that occurred on Tuesday, March 17th. The shares were sold at an average price of $22.82, for a total transaction of $74,416.02. Following the transaction, the insider owned 223,640 shares in the company, valued at $5,103,464.80. This trade represents a 1.44% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Lauren Riker sold 4,000 shares of the business’s stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $20.81, for a total value of $83,240.00. Following the sale, the senior vice president directly owned 52,313 shares in the company, valued at approximately $1,088,633.53. The trade was a 7.10% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 8,677 shares of company stock valued at $191,980 over the last quarter. Insiders own 6.40% of the company’s stock.

Institutional Trading of Pacira BioSciences

Hedge funds and other institutional investors have recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Pacira BioSciences by 4.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 27,242 shares of the company’s stock valued at $677,000 after buying an additional 1,165 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in Pacira BioSciences by 49.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,104,796 shares of the company’s stock valued at $27,454,000 after acquiring an additional 367,869 shares during the last quarter. Strs Ohio bought a new position in shares of Pacira BioSciences during the 1st quarter valued at about $75,000. PNC Financial Services Group Inc. boosted its position in shares of Pacira BioSciences by 17.8% during the 2nd quarter. PNC Financial Services Group Inc. now owns 3,511 shares of the company’s stock valued at $84,000 after purchasing an additional 531 shares in the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of Pacira BioSciences by 0.5% in the 2nd quarter. Geode Capital Management LLC now owns 1,143,190 shares of the company’s stock worth $27,326,000 after purchasing an additional 5,658 shares during the last quarter. Institutional investors own 99.73% of the company’s stock.

Pacira BioSciences Company Profile

Pacira BioSciences, Inc is a specialty pharmaceutical company focused on developing and commercializing non-opioid, non-addictive pain management and regenerative health solutions. The company’s flagship product, EXPAREL, is a bupivacaine liposome injectable suspension designed to provide long-lasting postsurgical analgesia. EXPAREL is used by clinicians across a broad range of surgical procedures to reduce reliance on opioid medications and to help manage acute postoperative pain.

In addition to its marketed offering, Pacira maintains an active pipeline of investigational products aimed at addressing unmet needs in pain management and inflammation control.