Pacira BioSciences (NASDAQ:PCRX) Price Target Increased to $18.00 by Analysts at Jefferies Financial Group

Pacira BioSciences (NASDAQ:PCRX - Get Free Report) had its target price boosted by Jefferies Financial Group from $15.00 to $18.00 in a note issued to investors on Tuesday, Benzinga reports. The firm currently has a "buy" rating on the stock. Jefferies Financial Group's price objective points to a potential upside of 26.23% from the company's current price.

Other equities analysts have also recently issued research reports about the stock. Barclays cut shares of Pacira BioSciences from an "overweight" rating to an "equal weight" rating and lowered their price objective for the stock from $38.00 to $25.00 in a research note on Wednesday, July 3rd. Needham & Company LLC dropped their price target on shares of Pacira BioSciences from $43.00 to $22.00 and set a "buy" rating on the stock in a research note on Monday, August 12th. Truist Financial downgraded shares of Pacira BioSciences from a "buy" rating to a "sell" rating and cut their price objective for the company from $30.00 to $8.00 in a research report on Tuesday, August 13th. Raymond James cut Pacira BioSciences from an "outperform" rating to a "market perform" rating in a report on Monday, August 12th. Finally, StockNews.com lowered Pacira BioSciences from a "strong-buy" rating to a "buy" rating in a report on Monday, August 12th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, Pacira BioSciences has an average rating of "Hold" and an average target price of $24.10.

Pacira BioSciences Stock Performance

PCRX traded down $0.02 during mid-day trading on Tuesday, reaching $14.26. 1,233,081 shares of the company traded hands, compared to its average volume of 907,788. The company's fifty day moving average price is $16.20 and its 200-day moving average price is $23.71. The stock has a market capitalization of $663.75 million, a P/E ratio of 9.97 and a beta of 0.84. The company has a quick ratio of 5.70, a current ratio of 6.82 and a debt-to-equity ratio of 0.67. Pacira BioSciences has a 52-week low of $11.16 and a 52-week high of $35.95.

Pacira BioSciences (NASDAQ:PCRX - Get Free Report) last issued its quarterly earnings data on Tuesday, July 30th. The company reported $0.64 EPS for the quarter, topping the consensus estimate of $0.53 by $0.11. Pacira BioSciences had a return on equity of 13.22% and a net margin of 9.21%. The company had revenue of $178.02 million during the quarter, compared to analyst estimates of $173.31 million. On average, sell-side analysts expect that Pacira BioSciences will post 2.24 EPS for the current year.

Insider Activity

In related news, CEO Frank D. Lee bought 8,264 shares of the company's stock in a transaction that occurred on Monday, August 12th. The stock was purchased at an average price of $12.10 per share, for a total transaction of $99,994.40. Following the completion of the transaction, the chief executive officer now owns 107,784 shares in the company, valued at $1,304,186.40. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO Frank D. Lee bought 8,264 shares of Pacira BioSciences stock in a transaction dated Monday, August 12th. The shares were purchased at an average cost of $12.10 per share, with a total value of $99,994.40. Following the completion of the acquisition, the chief executive officer now owns 107,784 shares of the company's stock, valued at approximately $1,304,186.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Jonathan Slonin sold 2,836 shares of the business's stock in a transaction dated 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 owns 95,557 shares in the company, valued at $2,699,485.25. The disclosure for this sale can be found here. Over the last quarter, insiders have purchased 11,176 shares of company stock worth $136,240 and have sold 4,281 shares worth $105,494. Company insiders own 6.40% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Jane Street Group LLC lifted its position in Pacira BioSciences by 1,780.2% during the first quarter. Jane Street Group LLC now owns 187,531 shares of the company's stock valued at $5,480,000 after purchasing an additional 177,557 shares during the last quarter. Legato Capital Management LLC raised its position in shares of Pacira BioSciences by 74.0% during the 2nd quarter. Legato Capital Management LLC now owns 52,913 shares of the company's stock valued at $1,514,000 after buying an additional 22,497 shares in the last quarter. Cobalt Capital Management Inc. bought a new position in shares of Pacira BioSciences in the 4th quarter valued at about $3,037,000. Bridge City Capital LLC purchased a new position in Pacira BioSciences in the first quarter worth about $1,810,000. Finally, WINTON GROUP Ltd bought a new stake in Pacira BioSciences during the second quarter worth approximately $2,726,000. 99.73% of the stock is currently owned by institutional investors.

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.