Pacira BioSciences (NASDAQ:PCRX) Downgraded by Truist Financial

Truist Financial downgraded shares of Pacira BioSciences (NASDAQ:PCRX) from a buy rating to a sell rating in a report released on Tuesday, MarketBeat reports. The firm currently has $8.00 target price on the stock, down from their prior target price of $30.00.

Several other equities research analysts have also commented on the company. HC Wainwright reduced their price objective on Pacira BioSciences from $57.00 to $39.00 and set a buy rating for the company in a research note on Monday, August 12th. Raymond James lowered Pacira BioSciences from an outperform rating to a market perform rating in a research note on Monday, August 12th. Piper Sandler lowered Pacira BioSciences from an overweight rating to a neutral rating and reduced their price objective for the stock from $42.00 to $11.00 in a research note on Monday, August 12th. StockNews.com downgraded shares of Pacira BioSciences from a strong-buy rating to a buy rating in a report on Monday, August 12th. Finally, Barclays downgraded shares of Pacira BioSciences from an overweight rating to an equal weight rating and dropped their target price for the stock from $38.00 to $25.00 in a report on Wednesday, July 3rd. 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 company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of Hold and an average price target of $24.78.

Pacira BioSciences Trading Down 3.1 %

NASDAQ:PCRX opened at $12.94 on Tuesday. The company has a debt-to-equity ratio of 0.67, a current ratio of 6.82 and a quick ratio of 5.70. The firm has a market capitalization of $602.31 million, a price-to-earnings ratio of 9.05 and a beta of 0.88. Pacira BioSciences has a one year low of $11.16 and a one year high of $38.23. The business has a fifty day moving average price of $22.28 and a 200-day moving average price of $26.75.

Insider Buying and Selling at Pacira BioSciences

In other Pacira BioSciences news, 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 transaction of $114,018.40. Following the completion of the transaction, the senior vice president now owns 38,075 shares of the company’s stock, valued at approximately $1,093,514. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Pacira BioSciences news, 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 transaction of $114,018.40. Following the completion of the transaction, the senior vice president now owns 38,075 shares of the company’s stock, valued at approximately $1,093,514. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jonathan Slonin sold 5,012 shares of the stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $28.57, for a total transaction of $143,192.84. Following the transaction, the insider now directly owns 44,569 shares of the company’s stock, valued at approximately $1,273,336.33. The disclosure for this sale can be found here. Insiders sold 22,095 shares of company stock valued at $621,118 in the last 90 days. Insiders own 6.40% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. lifted its holdings in shares of Pacira BioSciences by 0.3% in the 1st quarter. Vanguard Group Inc. now owns 5,113,384 shares of the company’s stock valued at $149,413,000 after acquiring an additional 14,960 shares during the last quarter. Pacer Advisors Inc. lifted its holdings in shares of Pacira BioSciences by 37.5% in the 2nd quarter. Pacer Advisors Inc. now owns 2,162,787 shares of the company’s stock valued at $61,877,000 after acquiring an additional 590,082 shares during the last quarter. Frontier Capital Management Co. LLC lifted its holdings in shares of 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 acquiring an additional 285,045 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in shares of Pacira BioSciences by 9.8% in the 2nd quarter. Renaissance Technologies LLC now owns 2,066,197 shares of the company’s stock valued at $59,114,000 after acquiring an additional 184,000 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Pacira BioSciences by 12.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,828,065 shares of the company’s stock valued at $52,300,000 after acquiring an additional 198,936 shares during the last quarter. 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.