Pacira BioSciences (NASDAQ:PCRX) Downgraded to Buy at StockNews.com

StockNews.com downgraded shares of Pacira BioSciences (NASDAQ:PCRX) from a strong-buy rating to a buy rating in a report released on Monday.

Other equities research analysts have also recently issued reports about the stock. JPMorgan Chase & Co. restated an underweight rating and set a $10.00 price objective (down from $45.00) on shares of Pacira BioSciences in a research report on Monday. Piper Sandler downgraded Pacira BioSciences from an overweight rating to a neutral rating and decreased their price objective for the company from $42.00 to $11.00 in a report on Monday. Truist Financial reduced their price target on shares of Pacira BioSciences from $45.00 to $30.00 and set a buy rating for the company in a research report on Thursday, July 25th. Barclays cut Pacira BioSciences from an overweight rating to an equal weight rating and decreased their price objective for the stock from $38.00 to $25.00 in a report on Wednesday, July 3rd. Finally, Royal Bank of Canada lowered Pacira BioSciences from an outperform rating to a sector perform rating and reduced their price objective for the company from $37.00 to $14.00 in a research note on Monday. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of Hold and an average target price of $24.78.

Pacira BioSciences Stock Performance

NASDAQ:PCRX opened at $13.25 on Monday. The company has a market cap of $611.22 million, a P/E ratio of 9.41 and a beta of 0.88. Pacira BioSciences has a twelve month low of $11.16 and a twelve month high of $38.23. The company’s 50-day moving average price is $22.59 and its 200-day moving average price is $26.88. The company has a current ratio of 6.82, a quick ratio of 5.70 and a debt-to-equity ratio of 0.67.

Insider Buying and Selling at Pacira BioSciences

In other news, COO Daryl Gaugler sold 1,000 shares of Pacira BioSciences stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $28.38, for a total value of $28,380.00. Following the transaction, the chief operating officer now owns 116,040 shares of the company’s stock, valued at approximately $3,293,215.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Pacira BioSciences news, SVP Lauren Riker sold 3,970 shares of the company’s stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $28.72, for a total transaction of $114,018.40. Following the completion of the sale, the senior vice president now directly owns 38,075 shares of the company’s stock, valued at $1,093,514. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, COO Daryl Gaugler sold 1,000 shares of the company’s stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $28.38, for a total transaction of $28,380.00. Following the completion of the sale, the chief operating officer now owns 116,040 shares of the company’s stock, valued at approximately $3,293,215.20. The disclosure for this sale can be found here. In the last three months, insiders sold 22,095 shares of company stock valued at $621,118. 6.40% of the stock is owned by insiders.

Institutional Trading of Pacira BioSciences

Several institutional investors have recently made changes to their positions in the stock. Vestal Point Capital LP acquired a new position in shares of Pacira BioSciences during the 4th quarter worth $40,488,000. Pacer Advisors Inc. increased its position in shares of Pacira BioSciences by 37.5% during the second quarter. Pacer Advisors Inc. now owns 2,162,787 shares of the company’s stock valued at $61,877,000 after purchasing an additional 590,082 shares during the period. Archon Capital Management LLC acquired a new position in shares of Pacira BioSciences in the first quarter valued at $15,677,000. Fort Washington Investment Advisors Inc. OH acquired a new position in shares of Pacira BioSciences in the 2nd quarter valued at $13,240,000. Finally, Frontier Capital Management Co. LLC boosted its stake in Pacira BioSciences by 15.8% in the fourth quarter. Frontier Capital Management Co. LLC now owns 2,084,542 shares of the company’s stock worth $70,332,000 after purchasing an additional 285,045 shares in the last quarter. 99.73% of the stock is currently owned by institutional investors and hedge funds.

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.