Pacira BioSciences (NASDAQ:PCRX) Trading Down 4.4%

Pacira BioSciences, Inc. (NASDAQ:PCRX - Get Free Report)'s stock price dropped 4.4% during trading on Monday . The company traded as low as $13.20 and last traded at $13.24. Approximately 353,681 shares traded hands during mid-day trading, a decline of 59% from the average daily volume of 871,040 shares. The stock had previously closed at $13.85.

Analysts Set New Price Targets

PCRX has been the topic of a number of analyst reports. Needham & Company LLC reduced 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. StockNews.com downgraded shares of Pacira BioSciences from a "strong-buy" rating to a "buy" rating in a research report on Monday, August 12th. Truist Financial downgraded shares of Pacira BioSciences from a "buy" rating to a "sell" rating and dropped their target price for the company from $30.00 to $8.00 in a research report on Tuesday, August 13th. Barclays downgraded shares of Pacira BioSciences from an "overweight" rating to an "equal weight" rating and dropped their target price for the company from $38.00 to $25.00 in a research report on Wednesday, July 3rd. Finally, Piper Sandler downgraded shares of Pacira BioSciences from an "overweight" rating to a "neutral" rating and dropped their target price for the company from $42.00 to $11.00 in a research report on Monday, August 12th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $24.78.

Pacira BioSciences Stock Performance

The company has a debt-to-equity ratio of 0.67, a current ratio of 6.82 and a quick ratio of 5.70. The company's fifty day simple moving average is $17.86 and its two-hundred day simple moving average is $24.95. The stock has a market cap of $610.30 million, a price-to-earnings ratio of 9.25 and a beta of 0.84.

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

Insider Transactions at Pacira BioSciences

In other news, CEO Frank D. Lee bought 8,264 shares of Pacira BioSciences stock in a transaction dated 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 purchase, the chief executive officer now directly owns 107,784 shares in the company, valued at approximately $1,304,186.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, COO Daryl Gaugler sold 1,000 shares of the stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $28.38, for a total transaction of $28,380.00. Following the completion of the transaction, the chief operating officer now owns 116,040 shares in the company, valued at $3,293,215.20. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Frank D. Lee purchased 8,264 shares of Pacira BioSciences stock in a transaction that occurred on Monday, August 12th. The shares were bought at an average price of $12.10 per share, with a total value of $99,994.40. Following the transaction, the chief executive officer now owns 107,784 shares of the company's stock, valued at approximately $1,304,186.40. The disclosure for this purchase can be found here. In the last quarter, insiders bought 11,176 shares of company stock worth $136,240 and sold 22,095 shares worth $621,118. Company insiders own 6.40% of the company's stock.

Hedge Funds Weigh In On Pacira BioSciences

Several institutional investors have recently added to or reduced their stakes in the stock. ICA Group Wealth Management LLC bought a new position in Pacira BioSciences during the fourth quarter worth about $30,000. GAMMA Investing LLC boosted its position in Pacira BioSciences by 229.6% during the second quarter. GAMMA Investing LLC now owns 1,338 shares of the company's stock worth $38,000 after purchasing an additional 932 shares during the period. Park Place Capital Corp bought a new position in Pacira BioSciences during the second quarter worth about $46,000. Innealta Capital LLC bought a new position in Pacira BioSciences during the second quarter worth about $50,000. Finally, nVerses Capital LLC boosted its position in Pacira BioSciences by 800.0% during the second quarter. nVerses Capital LLC now owns 1,800 shares of the company's stock worth $51,000 after purchasing an additional 1,600 shares during the period. Institutional investors own 99.73% of the company's stock.

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.