Pacira BioSciences (NASDAQ:PCRX) Shares Down 12.6% – Should You Sell?

Pacira BioSciences, Inc. (NASDAQ:PCRX)’s stock price traded down 12.6% during mid-day trading on Wednesday . The company traded as low as $23.40 and last traded at $22.97. 159,013 shares were traded during mid-day trading, a decline of 83% from the average session volume of 952,425 shares. The stock had previously closed at $26.27.

Analyst Ratings Changes

PCRX has been the subject of several research reports. Truist Financial upgraded Pacira BioSciences from a “sell” rating to a “hold” rating and increased their price target for the stock from $8.00 to $25.00 in a research note on Thursday, January 30th. HC Wainwright lifted their price objective on shares of Pacira BioSciences from $48.00 to $65.00 and gave the company a “buy” rating in a research note on Tuesday. Needham & Company LLC reiterated a “buy” rating and set a $32.00 price objective on shares of Pacira BioSciences in a research note on Tuesday. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $18.00 target price on shares of Pacira BioSciences in a report on Tuesday, January 14th. Finally, Barclays increased their price target on shares of Pacira BioSciences from $17.00 to $24.00 and gave the stock an “overweight” rating in a report on Friday, February 28th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $26.67.

Pacira BioSciences Trading Down 13.8 %

The firm’s 50 day moving average is $24.84 and its 200 day moving average is $20.56. The company has a market capitalization of $1.05 billion, a PE ratio of -11.16 and a beta of 0.71. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.25 and a quick ratio of 1.89.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of PCRX. Sterling Capital Management LLC raised its holdings in shares of Pacira BioSciences by 779.4% during the fourth quarter. Sterling Capital Management LLC now owns 1,363 shares of the company’s stock valued at $26,000 after acquiring an additional 1,208 shares in the last quarter. Ancora Advisors LLC purchased a new position in shares of Pacira BioSciences during the fourth quarter valued at about $26,000. Caitlin John LLC boosted its position in Pacira BioSciences by 1,850.0% during the 4th quarter. Caitlin John LLC now owns 1,872 shares of the company’s stock valued at $35,000 after acquiring an additional 1,776 shares in the last quarter. Nisa Investment Advisors LLC lifted its stake in shares of Pacira BioSciences by 495.3% in the 4th quarter. Nisa Investment Advisors LLC now owns 3,304 shares of the company’s stock valued at $62,000 after purchasing an additional 2,749 shares during the period. Finally, PNC Financial Services Group Inc. grew its stake in Pacira BioSciences by 16.6% in the fourth quarter. PNC Financial Services Group Inc. now owns 3,597 shares of the company’s stock worth $68,000 after purchasing an additional 513 shares during the period. Institutional investors own 99.73% of the company’s stock.

Pacira BioSciences Company Profile

Pacira Biosciences, Inc is a holding company, which engages in the provision of non-opioid pain management and regenerative health solutions to improve patients’ journeys along the neural pain pathway. Its products include EXPAREL, iovera, and DepoFoam. The company was founded in December 2006 and is headquartered in Tampa, FL.