Pacira BioSciences (NASDAQ:PCRX) Shares Down 5% – Should You Sell?

Pacira BioSciences, Inc. (NASDAQ:PCRX)’s share price traded down 5% during trading on Wednesday . The stock traded as low as $21.83 and last traded at $22.00. 221,818 shares traded hands during trading, a decline of 75% from the average session volume of 889,012 shares. The stock had previously closed at $23.16.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on PCRX. Barclays increased their price objective on shares of Pacira BioSciences from $17.00 to $24.00 and gave the company an “overweight” rating in a research report on Friday, February 28th. Needham & Company LLC raised their price target on shares of Pacira BioSciences from $30.00 to $32.00 and gave the company a “buy” rating in a report on Friday, February 28th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $18.00 price target on shares of Pacira BioSciences in a research note on Tuesday, January 14th. HC Wainwright upped their price objective on shares of Pacira BioSciences from $57.00 to $70.00 and gave the company a “buy” rating in a research report on Friday, February 28th. Finally, Truist Financial raised Pacira BioSciences from a “sell” rating to a “hold” rating and lifted their target price for the stock from $8.00 to $25.00 in a research report on Thursday, January 30th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, Pacira BioSciences has an average rating of “Hold” and an average price target of $27.22.

Pacira BioSciences Price Performance

The company has a quick ratio of 1.89, a current ratio of 2.25 and a debt-to-equity ratio of 0.51. The company has a 50 day simple moving average of $23.72 and a 200-day simple moving average of $19.14. The stock has a market cap of $1.02 billion, a price-to-earnings ratio of -10.87 and a beta of 0.86.

Hedge Funds Weigh In On Pacira BioSciences

A number of hedge funds have recently added to or reduced their stakes in PCRX. Public Employees Retirement System of Ohio raised its holdings in shares of Pacira BioSciences by 21,458.4% during the fourth quarter. Public Employees Retirement System of Ohio now owns 91,192 shares of the company’s stock worth $1,718,000 after purchasing an additional 90,769 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Pacira BioSciences by 26.2% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 104,855 shares of the company’s stock worth $1,975,000 after acquiring an additional 21,781 shares during the period. Voloridge Investment Management LLC raised its stake in Pacira BioSciences by 129.2% during the fourth quarter. Voloridge Investment Management LLC now owns 116,149 shares of the company’s stock worth $2,188,000 after acquiring an additional 65,467 shares during the period. Squarepoint Ops LLC lifted its holdings in Pacira BioSciences by 72.2% in the fourth quarter. Squarepoint Ops LLC now owns 60,836 shares of the company’s stock worth $1,146,000 after acquiring an additional 25,505 shares during the last quarter. Finally, Two Sigma Advisers LP acquired a new position in Pacira BioSciences in the fourth quarter valued at approximately $797,000. Institutional investors and hedge funds own 99.73% of the company’s stock.

About Pacira BioSciences

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.