Pacira BioSciences (NASDAQ:PCRX) Stock Rating Lowered by StockNews.com

Pacira BioSciences (NASDAQ:PCRX) was downgraded by StockNews.com from a “strong-buy” rating to a “buy” rating in a report released on Monday.

Other analysts also recently issued reports about the company. HC Wainwright cut their target price on Pacira BioSciences from $57.00 to $39.00 and set a “buy” rating for the company in a research note on Monday. Needham & Company LLC cut their target price on Pacira BioSciences from $43.00 to $22.00 and set a “buy” rating for the company in a research note on Monday. Barclays downgraded Pacira BioSciences from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $38.00 to $25.00 in a research note on Wednesday, July 3rd. Piper Sandler cut Pacira BioSciences from an “overweight” rating to a “neutral” rating and lowered their price target for the stock from $42.00 to $11.00 in a report on Monday. Finally, Truist Financial lowered their price target on Pacira BioSciences from $45.00 to $30.00 and set a “buy” rating for the company in a report on Thursday, July 25th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, Pacira BioSciences currently has an average rating of “Hold” and a consensus price target of $24.78.

Pacira BioSciences Stock Up 0.9 %

Shares of PCRX opened at $12.40 on Monday. Pacira BioSciences has a 52-week low of $11.16 and a 52-week high of $38.23. The company has a market capitalization of $577.17 million, a PE ratio of 8.67 and a beta of 0.88. The stock has a fifty day simple moving average of $23.26 and a two-hundred day simple moving average of $27.08. The company has a quick ratio of 5.70, a current ratio of 6.82 and a debt-to-equity ratio of 0.67.

Insider Activity at Pacira BioSciences

In other news, CEO Frank D. Lee bought 8,264 shares of the stock in a transaction that occurred on Monday, August 12th. The stock was bought at an average cost of $12.10 per share, for a total transaction of $99,994.40. Following the acquisition, the chief executive officer now directly owns 107,784 shares of the company’s stock, valued at approximately $1,304,186.40. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO Frank D. Lee purchased 8,264 shares of Pacira BioSciences stock in a transaction on Monday, August 12th. The shares were bought at an average price of $12.10 per share, with a total value of $99,994.40. Following the transaction, the chief executive officer now directly owns 107,784 shares of the company’s stock, valued at $1,304,186.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Lauren Riker sold 3,970 shares of the stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $28.72, for a total value of $114,018.40. Following the completion of the sale, the senior vice president now directly owns 38,075 shares in the company, valued at approximately $1,093,514. The disclosure for this sale can be found here. Insiders sold 22,095 shares of company stock worth $621,118 in the last three months. 6.40% of the stock is owned by company insiders.

Institutional Investors Weigh In On Pacira BioSciences

Several hedge funds and other institutional investors have recently made changes to their positions in PCRX. ICA Group Wealth Management LLC acquired a new stake in shares of Pacira BioSciences during the 4th quarter worth about $30,000. GAMMA Investing LLC increased its position in Pacira BioSciences by 229.6% during the second quarter. GAMMA Investing LLC now owns 1,338 shares of the company’s stock worth $38,000 after buying an additional 932 shares during the period. Park Place Capital Corp acquired a new position in Pacira BioSciences during the second quarter worth approximately $46,000. Innealta Capital LLC acquired a new position in Pacira BioSciences during the second quarter worth approximately $50,000. Finally, nVerses Capital LLC increased its position in Pacira BioSciences by 800.0% during the second quarter. nVerses Capital LLC now owns 1,800 shares of the company’s stock worth $51,000 after buying an additional 1,600 shares during the period. Institutional investors and hedge funds own 99.73% of the company’s stock.

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.