Pacira BioSciences, Inc. (NASDAQ:PCRX) Receives $24.20 Consensus Target Price from Analysts

Pacira BioSciences, Inc. (NASDAQ:PCRX - Get Free Report) has been assigned a consensus recommendation of "Hold" from the ten ratings firms that are covering the company, MarketBeat.com reports. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating on the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $24.20.

PCRX has been the subject of several research reports. 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 report on Monday, August 12th. Truist Financial downgraded Pacira BioSciences from a "buy" rating to a "sell" rating and decreased their target price for the stock 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 research report on Monday, August 12th. Piper Sandler lowered Pacira BioSciences from an "overweight" rating to a "neutral" rating and decreased their price objective for the stock from $42.00 to $11.00 in a report on Monday, August 12th. Finally, HC Wainwright dropped their price objective on shares of Pacira BioSciences from $57.00 to $39.00 and set a "buy" rating on the stock in a report on Monday, August 12th.

Insider Activity at Pacira BioSciences

In related news, CEO Frank D. Lee acquired 8,264 shares of the firm's stock in a transaction that occurred on Monday, August 12th. The shares were bought at an average cost 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 approximately $1,304,186.40. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Over the last quarter, insiders acquired 11,176 shares of company stock valued at $136,240. Company insiders own 6.40% of the company's stock.

Hedge Funds Weigh In On Pacira BioSciences

A number of large investors have recently modified their holdings of PCRX. Vanguard Group Inc. increased its holdings in shares of Pacira BioSciences by 0.3% in the first quarter. Vanguard Group Inc. now owns 5,113,384 shares of the company's stock worth $149,413,000 after buying an additional 14,960 shares during the period. Pacer Advisors Inc. increased its stake in Pacira BioSciences by 37.5% in the 2nd quarter. Pacer Advisors Inc. now owns 2,162,787 shares of the company's stock worth $61,877,000 after purchasing an additional 590,082 shares during the period. Renaissance Technologies LLC lifted its position in Pacira BioSciences by 9.8% in the second quarter. Renaissance Technologies LLC now owns 2,066,197 shares of the company's stock valued at $59,114,000 after purchasing an additional 184,000 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Pacira BioSciences by 12.2% during the second quarter. Dimensional Fund Advisors LP now owns 1,828,065 shares of the company's stock valued at $52,300,000 after purchasing an additional 198,936 shares during the period. Finally, Clearbridge Investments LLC boosted its stake in shares of Pacira BioSciences by 2.3% during the first quarter. Clearbridge Investments LLC now owns 1,172,150 shares of the company's stock valued at $34,250,000 after purchasing an additional 26,463 shares during the period. 99.73% of the stock is owned by hedge funds and other institutional investors.

Pacira BioSciences Stock Up 5.0 %

Shares of Pacira BioSciences stock traded up $0.83 on Tuesday, hitting $17.28. The company had a trading volume of 417,558 shares, compared to its average volume of 864,076. The company has a debt-to-equity ratio of 0.67, a quick ratio of 5.70 and a current ratio of 6.82. The stock has a market capitalization of $797.07 million, a price-to-earnings ratio of 13.28 and a beta of 0.82. The stock has a 50 day moving average of $15.43 and a 200-day moving average of $21.18. Pacira BioSciences has a 1 year low of $11.16 and a 1 year high of $35.95.

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.