Pacira BioSciences (NASDAQ:PCRX) Price Target Raised to $16.00

Pacira BioSciences (NASDAQ:PCRX) had its price objective increased by investment analysts at Royal Bank of Canada from $15.00 to $16.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage presently has a “sector perform” rating on the stock. Royal Bank of Canada’s price objective would suggest a potential downside of 7.19% from the stock’s previous close.

Several other equities research analysts have also recently weighed in on PCRX. HC Wainwright decreased their price target on Pacira BioSciences from $57.00 to $39.00 and set a “buy” rating on the stock in a research report on Monday, August 12th. Truist Financial lowered Pacira BioSciences from a “buy” rating to a “sell” rating and dropped their price target for the stock from $30.00 to $8.00 in a research note on Tuesday, August 13th. Piper Sandler downgraded Pacira BioSciences from an “overweight” rating to a “neutral” rating and decreased their price objective for the stock from $42.00 to $11.00 in a report on Monday, August 12th. StockNews.com downgraded Pacira BioSciences from a “strong-buy” rating to a “buy” rating in a report on Monday, August 12th. Finally, Jefferies Financial Group raised their price target on Pacira BioSciences from $15.00 to $18.00 and gave the company a “buy” rating in a report on Tuesday, September 24th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $24.30.

Pacira BioSciences Stock Performance

NASDAQ PCRX traded down $0.46 during trading on Thursday, hitting $17.24. 756,242 shares of the company’s stock traded hands, compared to its average volume of 862,430. The stock has a market capitalization of $795.28 million, a price-to-earnings ratio of -8.49 and a beta of 0.82. Pacira BioSciences has a 12-month low of $11.16 and a 12-month high of $35.95. The company has a debt-to-equity ratio of 0.67, a quick ratio of 5.70 and a current ratio of 6.82. The business has a 50 day moving average of $15.62 and a 200-day moving average of $21.00.

Insiders Place Their Bets

In other news, CEO Frank D. Lee acquired 8,264 shares of Pacira BioSciences stock in a transaction on Monday, August 12th. The shares were acquired at an average price of $12.10 per share, with a total value of $99,994.40. Following the purchase, the chief executive officer now directly owns 107,784 shares in the company, valued at $1,304,186.40. The trade was a 0.00 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have bought a total of 11,176 shares of company stock valued at $136,240 in the last quarter. 6.40% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Pacira BioSciences

Several large investors have recently modified their holdings of the stock. Texas Permanent School Fund Corp increased its position in shares of Pacira BioSciences by 1.4% during the 1st quarter. Texas Permanent School Fund Corp now owns 40,642 shares of the company’s stock valued at $1,188,000 after purchasing an additional 543 shares during the last quarter. Duality Advisers LP increased its position in shares of Pacira BioSciences by 1.8% during the 1st quarter. Duality Advisers LP now owns 34,784 shares of the company’s stock valued at $1,016,000 after purchasing an additional 605 shares during the last quarter. Inspire Investing LLC boosted its holdings in Pacira BioSciences by 5.9% during the 1st quarter. Inspire Investing LLC now owns 12,131 shares of the company’s stock valued at $354,000 after acquiring an additional 675 shares during the period. ProShare Advisors LLC boosted its holdings in Pacira BioSciences by 8.0% during the 1st quarter. ProShare Advisors LLC now owns 12,461 shares of the company’s stock valued at $364,000 after acquiring an additional 924 shares during the period. Finally, GAMMA Investing LLC boosted its holdings in Pacira BioSciences by 229.6% during the 2nd quarter. GAMMA Investing LLC now owns 1,338 shares of the company’s stock valued at $38,000 after acquiring an additional 932 shares during the period. Institutional investors 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.