Pacira BioSciences (NASDAQ:PCRX) Price Target Raised to $15.00 at Royal Bank of Canada

Pacira BioSciences (NASDAQ:PCRX - Get Free Report) had its target price lifted by Royal Bank of Canada from $14.00 to $15.00 in a report issued on Friday, Benzinga reports. The brokerage currently has a "sector perform" rating on the stock. Royal Bank of Canada's target price points to a potential downside of 9.17% from the stock's previous close.

Several other research firms also recently weighed in on PCRX. Raymond James downgraded shares of Pacira BioSciences from an "outperform" rating to a "market perform" rating in a research note on Monday, August 12th. Barclays downgraded Pacira BioSciences from an "overweight" rating to an "equal weight" rating and decreased their price objective for the company from $38.00 to $25.00 in a report on Wednesday, July 3rd. HC Wainwright reduced their price target on shares of Pacira BioSciences from $57.00 to $39.00 and set a "buy" rating for the company in a research report on Monday, August 12th. Truist Financial lowered shares of Pacira BioSciences from a "buy" rating to a "sell" rating and decreased their price target for the company from $30.00 to $8.00 in a research note on Tuesday, August 13th. Finally, Needham & Company LLC dropped their price objective 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. Two analysts have rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $24.20.

Pacira BioSciences Trading Up 3.9 %

NASDAQ PCRX traded up $0.62 during mid-day trading on Friday, reaching $16.52. 669,621 shares of the stock were exchanged, compared to its average volume of 902,641. The stock has a market cap of $761.84 million, a P/E ratio of 11.50 and a beta of 0.84. The company has a debt-to-equity ratio of 0.67, a current ratio of 6.82 and a quick ratio of 5.70. Pacira BioSciences has a one year low of $11.16 and a one year high of $35.95. The stock has a 50 day simple moving average of $15.47 and a 200-day simple moving average of $23.06.

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

Insider Activity at Pacira BioSciences

In related news, CEO Frank D. Lee purchased 8,264 shares of the business's stock in a transaction that occurred on Monday, August 12th. The shares were bought at an average cost of $12.10 per share, with a total value of $99,994.40. Following the acquisition, the chief executive officer now owns 107,784 shares of the company's stock, valued at $1,304,186.40. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Over the last three months, insiders acquired 11,176 shares of company stock valued at $136,240. 6.40% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Jane Street Group LLC lifted its holdings 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. Dimensional Fund Advisors LP lifted its stake in shares of Pacira BioSciences by 12.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,828,065 shares of the company's stock valued at $52,300,000 after buying an additional 198,936 shares in the last quarter. Legato Capital Management LLC boosted its holdings in Pacira BioSciences by 74.0% in the 2nd quarter. Legato Capital Management LLC now owns 52,913 shares of the company's stock worth $1,514,000 after buying an additional 22,497 shares during the period. Cobalt Capital Management Inc. purchased a new position in Pacira BioSciences in the 4th quarter valued at approximately $3,037,000. Finally, WINTON GROUP Ltd purchased a new position in Pacira BioSciences in the 2nd quarter valued at approximately $2,726,000. 99.73% of the stock is currently owned by hedge funds and other 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.