Pacira BioSciences (NASDAQ:PCRX) PT Lowered to $30.00

Pacira BioSciences (NASDAQ:PCRX) had its price target lowered by Truist Financial from $45.00 to $30.00 in a report released on Thursday, Benzinga reports. The firm currently has a buy rating on the stock.

Other analysts have also issued reports about the stock. Piper Sandler reiterated an overweight rating and set a $42.00 price target on shares of Pacira BioSciences in a research note on Wednesday, July 3rd. HC Wainwright restated a buy rating and set a $57.00 target price on shares of Pacira BioSciences in a research note on Tuesday, July 2nd. Barclays cut shares of Pacira BioSciences from an overweight rating to an equal weight rating and lowered their price target for the stock from $38.00 to $25.00 in a report on Wednesday, July 3rd. Finally, Needham & Company LLC restated a buy rating and issued a $43.00 price objective on shares of Pacira BioSciences in a report on Tuesday, July 2nd. One equities research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of Moderate Buy and a consensus target price of $43.60.

Pacira BioSciences Trading Up 0.3 %

Shares of PCRX stock opened at $20.03 on Thursday. The company has a current ratio of 5.81, a quick ratio of 4.78 and a debt-to-equity ratio of 0.57. The stock has a market cap of $932.32 million, a price-to-earnings ratio of 14.01 and a beta of 0.88. The company’s 50-day moving average price is $26.02 and its 200-day moving average price is $28.21. Pacira BioSciences has a twelve month low of $19.34 and a twelve month high of $40.16.

Pacira BioSciences (NASDAQ:PCRX) last released its quarterly earnings results on Tuesday, May 7th. The company reported $0.42 earnings per share for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.04). The business had revenue of $167.12 million for the quarter, compared to analysts’ expectations of $165.43 million. Pacira BioSciences had a return on equity of 12.98% and a net margin of 10.34%. As a group, equities analysts predict that Pacira BioSciences will post 2.12 earnings per share for the current year.

Insider Buying and Selling

In other news, insider Jonathan Slonin sold 2,836 shares of the stock in a transaction that occurred on Tuesday, July 2nd. The stock was sold at an average price of $28.25, for a total value of $80,117.00. Following the completion of the sale, the insider now directly owns 95,557 shares of the company’s stock, valued at $2,699,485.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Jonathan Slonin sold 2,836 shares of the company’s stock in a transaction dated Tuesday, July 2nd. The shares were sold at an average price of $28.25, for a total value of $80,117.00. Following the completion of the sale, the insider now directly owns 95,557 shares of the company’s stock, valued at $2,699,485.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, COO Daryl Gaugler sold 1,000 shares of the firm’s stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $28.38, for a total value of $28,380.00. Following the transaction, the chief operating officer now directly owns 116,040 shares in the company, valued at approximately $3,293,215.20. The disclosure for this sale can be found here. Insiders have sold 21,150 shares of company stock worth $602,170 in the last quarter. 6.40% of the stock is owned by insiders.

Institutional Investors Weigh In On Pacira BioSciences

Several hedge funds have recently modified their holdings of PCRX. ICA Group Wealth Management LLC purchased a new position in Pacira BioSciences during the 4th quarter worth $30,000. GAMMA Investing LLC lifted its position in Pacira BioSciences by 229.6% in the second quarter. GAMMA Investing LLC now owns 1,338 shares of the company’s stock valued at $38,000 after purchasing an additional 932 shares during the period. Park Place Capital Corp purchased a new stake in Pacira BioSciences in the 2nd quarter valued at approximately $46,000. Quadrant Capital Group LLC increased its position in Pacira BioSciences by 61.5% during the 4th quarter. Quadrant Capital Group LLC now owns 2,324 shares of the company’s stock worth $78,000 after purchasing an additional 885 shares during the period. Finally, Natixis purchased a new position in shares of Pacira BioSciences during the 1st quarter worth approximately $95,000. 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.