Pacira BioSciences (NASDAQ:PCRX) Price Target Cut to $28.00 by Analysts at Truist Financial

Pacira BioSciences (NASDAQ:PCRX) had its target price dropped by equities research analysts at Truist Financial from $30.00 to $28.00 in a report released on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Truist Financial’s price objective suggests a potential upside of 28.27% from the stock’s previous close.

Other equities research analysts have also issued research reports about the stock. Weiss Ratings restated a “sell (d)” rating on shares of Pacira BioSciences in a research note on Wednesday, October 8th. Zacks Research raised Pacira BioSciences from a “strong sell” rating to a “hold” rating in a research note on Thursday, August 14th. Four analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $33.00.

Pacira BioSciences Stock Up 3.5%

Shares of Pacira BioSciences stock traded up $0.73 during trading hours on Friday, hitting $21.83. 956,179 shares of the company’s stock traded hands, compared to its average volume of 752,936. Pacira BioSciences has a twelve month low of $16.00 and a twelve month high of $27.64. The company has a quick ratio of 1.91, a current ratio of 2.38 and a debt-to-equity ratio of 0.50. The company has a market cap of $980.84 million, a PE ratio of -7.85 and a beta of 0.36. The stock has a 50 day simple moving average of $24.34 and a 200-day simple moving average of $24.48.

Pacira BioSciences (NASDAQ:PCRX) last issued its earnings results on Tuesday, August 5th. The company reported $0.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.73 by $0.01. The business had revenue of $181.10 million for the quarter, compared to analyst estimates of $183.11 million. Pacira BioSciences had a negative net margin of 18.08% and a positive return on equity of 13.29%. The company’s revenue for the quarter was up 1.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.96 EPS. Equities research analysts anticipate that Pacira BioSciences will post 2.41 earnings per share for the current fiscal year.

Institutional Trading of Pacira BioSciences

Institutional investors have recently made changes to their positions in the stock. Allspring Global Investments Holdings LLC acquired a new stake in shares of Pacira BioSciences in the first quarter worth about $277,000. Gagnon Advisors LLC raised its stake in shares of Pacira BioSciences by 60.0% in the 2nd quarter. Gagnon Advisors LLC now owns 213,402 shares of the company’s stock valued at $5,100,000 after acquiring an additional 80,012 shares in the last quarter. KLP Kapitalforvaltning AS lifted its holdings in Pacira BioSciences by 48.5% in the 2nd quarter. KLP Kapitalforvaltning AS now owns 35,200 shares of the company’s stock worth $841,000 after purchasing an additional 11,500 shares during the last quarter. Farther Finance Advisors LLC boosted its position in Pacira BioSciences by 1,503.1% during the second quarter. Farther Finance Advisors LLC now owns 8,160 shares of the company’s stock worth $195,000 after purchasing an additional 7,651 shares during the period. Finally, Nuveen LLC acquired a new position in Pacira BioSciences during the first quarter valued at approximately $12,884,000. 99.73% of the stock is currently owned by institutional investors and hedge funds.

About Pacira BioSciences

Pacira Biosciences, Inc is a holding company, which engages in the provision of non-opioid pain management and regenerative health solutions to improve patients’ journeys along the neural pain pathway. Its products include EXPAREL, iovera, and DepoFoam. The company was founded in December 2006 and is headquartered in Tampa, FL.