Needham & Company LLC Trims Pacira BioSciences (NASDAQ:PCRX) Target Price to $22.00

Pacira BioSciences (NASDAQ:PCRX) had its price target reduced by Needham & Company LLC from $43.00 to $22.00 in a report published on Monday, Benzinga reports. Needham & Company LLC currently has a buy rating on the stock.

Other research analysts also recently issued research reports about the stock. StockNews.com upgraded shares of Pacira BioSciences from a buy rating to a strong-buy rating in a research report on Thursday, August 1st. Raymond James lowered their price target on shares of Pacira BioSciences from $41.00 to $37.00 and set an outperform rating on the stock in a research report on Wednesday, July 31st. Piper Sandler restated an overweight rating and issued a $42.00 target price on shares of Pacira BioSciences in a research report on Wednesday, July 3rd. HC Wainwright reduced their price target on shares of Pacira BioSciences from $57.00 to $39.00 and set a buy rating on the stock in a research note on Monday. Finally, Truist Financial decreased their target price on Pacira BioSciences from $45.00 to $30.00 and set a buy rating on the stock in a research note on Thursday, July 25th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of Hold and a consensus target price of $24.78.

Pacira BioSciences Price Performance

NASDAQ:PCRX opened at $12.47 on Monday. The company has a quick ratio of 5.70, a current ratio of 6.82 and a debt-to-equity ratio of 0.67. Pacira BioSciences has a 52 week low of $11.16 and a 52 week high of $38.23. The stock’s 50-day moving average price is $22.91 and its 200-day moving average price is $26.98. The stock has a market capitalization of $575.24 million, a PE ratio of 8.72 and a beta of 0.88.

Insider Buying and Selling

In related news, CEO Frank D. Lee acquired 8,264 shares of the business’s 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 completion of the acquisition, the chief executive officer now owns 107,784 shares in the company, valued at $1,304,186.40. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider Jonathan Slonin sold 2,836 shares of the stock in a transaction on Tuesday, July 2nd. The shares were sold at an average price of $28.25, for a total transaction of $80,117.00. Following the completion of the sale, the insider now owns 95,557 shares in the company, valued at approximately $2,699,485.25. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Frank D. Lee bought 8,264 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at approximately $1,304,186.40. The disclosure for this purchase can be found here. Over the last quarter, insiders sold 22,095 shares of company stock worth $621,118. Corporate insiders own 6.40% of the company’s stock.

Institutional Investors Weigh In On Pacira BioSciences

Large investors have recently modified their holdings of the stock. Vanguard Group Inc. boosted its stake in shares of Pacira BioSciences by 0.3% in the first quarter. Vanguard Group Inc. now owns 5,113,384 shares of the company’s stock valued at $149,413,000 after buying an additional 14,960 shares in the last quarter. Pacer Advisors Inc. increased its position in Pacira BioSciences by 37.5% during the second quarter. Pacer Advisors Inc. now owns 2,162,787 shares of the company’s stock worth $61,877,000 after buying an additional 590,082 shares in the last quarter. Frontier Capital Management Co. LLC raised its stake in Pacira BioSciences by 15.8% in the 4th quarter. Frontier Capital Management Co. LLC now owns 2,084,542 shares of the company’s stock valued at $70,332,000 after purchasing an additional 285,045 shares during the last quarter. Renaissance Technologies LLC boosted its position in Pacira BioSciences by 9.8% during the second quarter. Renaissance Technologies LLC now owns 2,066,197 shares of the company’s stock worth $59,114,000 after acquiring an additional 184,000 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of Pacira BioSciences by 12.2% during the second quarter. Dimensional Fund Advisors LP now owns 1,828,065 shares of the company’s stock worth $52,300,000 after purchasing an additional 198,936 shares during the last quarter. Hedge funds and other institutional investors own 99.73% of the company’s stock.

Pacira BioSciences Company Profile

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.