Pacira BioSciences (NASDAQ:PCRX) Stock Price Down 6.7% – What’s Next?

Pacira BioSciences, Inc. (NASDAQ:PCRX) dropped 6.7% on Tuesday . The company traded as low as $16.59 and last traded at $16.62. Approximately 295,158 shares changed hands during mid-day trading, a decline of 65% from the average daily volume of 840,485 shares. The stock had previously closed at $17.81.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. JPMorgan Chase & Co. restated an “underweight” rating and set a $10.00 price target (down previously from $45.00) on shares of Pacira BioSciences in a research note on Monday, August 12th. Barclays dropped their price objective on Pacira BioSciences from $25.00 to $17.00 and set an “equal weight” rating on the stock in a report on Tuesday, November 12th. Piper Sandler cut Pacira BioSciences from an “overweight” rating to a “neutral” rating and dropped their price target for the company from $42.00 to $11.00 in a research report on Monday, August 12th. Raymond James cut shares of Pacira BioSciences from an “outperform” rating to a “market perform” rating in a research note on Monday, August 12th. Finally, Truist Financial lowered shares of Pacira BioSciences from a “buy” rating to a “sell” rating and lowered their price target for the company from $30.00 to $8.00 in a research report on Tuesday, August 13th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the company. According to MarketBeat, Pacira BioSciences presently has an average rating of “Hold” and an average price target of $23.50.

Pacira BioSciences Trading Down 6.3 %

The company has a 50-day moving average of $16.53 and a two-hundred day moving average of $19.67. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.89 and a current ratio of 2.25.

Hedge Funds Weigh In On Pacira BioSciences

Hedge funds and other institutional investors have recently bought and sold shares of the stock. GAMMA Investing LLC increased 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 worth $38,000 after purchasing an additional 932 shares during the last quarter. Outfitter Financial LLC increased its holdings in Pacira BioSciences by 5.7% during the 2nd quarter. Outfitter Financial LLC now owns 20,190 shares of the company’s stock worth $578,000 after purchasing an additional 1,095 shares during the last quarter. The Manufacturers Life Insurance Company increased its holdings in Pacira BioSciences by 6.0% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 23,932 shares of the company’s stock worth $685,000 after purchasing an additional 1,354 shares during the last quarter. nVerses Capital LLC increased its holdings in Pacira BioSciences by 800.0% during the 2nd quarter. nVerses Capital LLC now owns 1,800 shares of the company’s stock worth $51,000 after purchasing an additional 1,600 shares during the last quarter. Finally, Innealta Capital LLC purchased a new stake in Pacira BioSciences during the 2nd quarter worth approximately $50,000. 99.73% of the stock is 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.