Pacira BioSciences (NASDAQ:PCRX) Shares Down 4.4%

Shares of Pacira BioSciences, Inc. (NASDAQ:PCRX) fell 4.4% on Monday . The stock traded as low as $13.20 and last traded at $13.24. 353,681 shares were traded during mid-day trading, a decline of 59% from the average session volume of 871,040 shares. The stock had previously closed at $13.85.

Analyst Upgrades and Downgrades

Several brokerages have commented on PCRX. StockNews.com lowered Pacira BioSciences from a “strong-buy” rating to a “buy” rating in a research report on Monday, August 12th. Truist Financial lowered shares of Pacira BioSciences from a “buy” rating to a “sell” rating and dropped their price objective for the stock from $30.00 to $8.00 in a research note on Tuesday, August 13th. Royal Bank of Canada cut Pacira BioSciences from an “outperform” rating to a “sector perform” rating and dropped their price target for the stock from $37.00 to $14.00 in a research report on Monday, August 12th. Barclays lowered Pacira BioSciences from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $38.00 to $25.00 in a research report on Wednesday, July 3rd. Finally, JPMorgan Chase & Co. reissued an “underweight” rating and issued a $10.00 target price (down from $45.00) on shares of Pacira BioSciences in a research note on Monday, August 12th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $24.78.

Pacira BioSciences Price Performance

The firm has a fifty day moving average of $18.16 and a 200 day moving average of $25.07. The company has a current ratio of 6.82, a quick ratio of 5.70 and a debt-to-equity ratio of 0.67. The company has a market capitalization of $607.99 million, a P/E ratio of 9.69 and a beta of 0.84.

Pacira BioSciences (NASDAQ:PCRX) last announced its quarterly earnings results on Tuesday, July 30th. The company reported $0.64 EPS for the quarter, topping analysts’ consensus estimates of $0.53 by $0.11. The firm had revenue of $178.02 million during the quarter, compared to analyst estimates of $173.31 million. Pacira BioSciences had a net margin of 9.21% and a return on equity of 13.22%. On average, equities research analysts anticipate that Pacira BioSciences, Inc. will post 2.24 EPS for the current year.

Insider Buying and Selling

In other Pacira BioSciences news, CEO Frank D. Lee purchased 8,264 shares of the firm’s stock in a transaction that occurred 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 completion of the purchase, the chief executive officer now directly owns 107,784 shares in the company, valued at $1,304,186.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, SVP Lauren Riker sold 3,970 shares of the stock in a transaction that occurred on Wednesday, June 12th. The stock was sold at an average price of $28.72, for a total value of $114,018.40. Following the sale, the senior vice president now directly owns 38,075 shares in the company, valued at $1,093,514. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Frank D. Lee acquired 8,264 shares of the business’s stock in a transaction on Monday, August 12th. The stock was acquired at an average cost of $12.10 per share, for a total transaction of $99,994.40. Following the transaction, the chief executive officer now directly owns 107,784 shares in the company, valued at $1,304,186.40. The disclosure for this purchase can be found here. In the last three months, insiders have acquired 11,176 shares of company stock valued at $136,240 and have sold 22,095 shares valued at $621,118. 6.40% of the stock is owned by insiders.

Institutional Trading of Pacira BioSciences

Several institutional investors and hedge funds have recently made changes to their positions in PCRX. National Bank of Canada FI purchased a new position in Pacira BioSciences in the 4th quarter worth about $966,000. Charles Schwab Investment Management Inc. grew its stake in Pacira BioSciences by 3.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 371,666 shares of the company’s stock worth $12,540,000 after acquiring an additional 11,696 shares in the last quarter. Versor Investments LP increased its position in shares of Pacira BioSciences by 53.0% during the fourth quarter. Versor Investments LP now owns 12,692 shares of the company’s stock worth $428,000 after acquiring an additional 4,397 shares during the period. QRG Capital Management Inc. raised its stake in shares of Pacira BioSciences by 11.2% during the fourth quarter. QRG Capital Management Inc. now owns 15,987 shares of the company’s stock valued at $539,000 after acquiring an additional 1,610 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of Pacira BioSciences by 1.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,411,767 shares of the company’s stock valued at $47,633,000 after purchasing an additional 17,949 shares during the period. 99.73% of the stock is currently owned by institutional investors.

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.