Pacira BioSciences (NASDAQ:PCRX) Sees Strong Trading Volume

Shares of Pacira BioSciences, Inc. (NASDAQ:PCRX - Get Free Report) saw strong trading volume on Monday . 848,478 shares changed hands during mid-day trading, a decline of 3% from the previous session's volume of 878,547 shares.The stock last traded at $13.57 and had previously closed at $13.11.

Analyst Ratings Changes

Several equities analysts have weighed in on PCRX shares. Royal Bank of Canada downgraded shares of Pacira BioSciences from an "outperform" rating to a "sector perform" rating and lowered their price target for the company from $37.00 to $14.00 in a report on Monday, August 12th. Barclays lowered Pacira BioSciences from an "overweight" rating to an "equal weight" rating and cut their price target for the stock from $38.00 to $25.00 in a research note on Wednesday, July 3rd. Raymond James lowered Pacira BioSciences from an "outperform" rating to a "market perform" rating in a research note on Monday, August 12th. Needham & Company LLC decreased their target price on Pacira BioSciences from $43.00 to $22.00 and set a "buy" rating on the stock in a research note on Monday, August 12th. Finally, Piper Sandler downgraded Pacira BioSciences from an "overweight" rating to a "neutral" rating and dropped their price target for the stock from $42.00 to $11.00 in a research note on Monday, August 12th. Two 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. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $24.78.

Pacira BioSciences Price Performance

The company has a market cap of $622.29 million, a P/E ratio of 9.43 and a beta of 0.84. The firm's 50-day moving average is $17.01 and its two-hundred day moving average is $24.37. 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 (NASDAQ:PCRX - Get Free Report) last posted its earnings results on Tuesday, July 30th. The company reported $0.64 earnings per share for the quarter, topping analysts' consensus estimates 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. Analysts anticipate that Pacira BioSciences, Inc. will post 2.24 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Jonathan Slonin sold 2,836 shares of Pacira BioSciences 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 transaction, the insider now owns 95,557 shares in the company, valued at approximately $2,699,485.25. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, insider Jonathan Slonin sold 2,836 shares of the firm'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 owns 95,557 shares in the company, valued at approximately $2,699,485.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Frank D. Lee purchased 8,264 shares of the company's stock in a transaction that occurred on 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 purchase, the chief executive officer now owns 107,784 shares in the company, valued at approximately $1,304,186.40. The disclosure for this purchase can be found here. Over the last ninety days, insiders have purchased 11,176 shares of company stock valued at $136,240 and have sold 4,281 shares valued at $105,494. 6.40% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Pacira BioSciences

Several hedge funds and other institutional investors have recently modified their holdings of the business. ICA Group Wealth Management LLC purchased a new position in Pacira BioSciences in the 4th quarter worth about $30,000. GAMMA Investing LLC grew its stake in Pacira BioSciences by 229.6% in the 2nd quarter. GAMMA Investing LLC now owns 1,338 shares of the company's stock worth $38,000 after acquiring an additional 932 shares in the last quarter. Park Place Capital Corp purchased a new position in shares of Pacira BioSciences during the second quarter worth approximately $46,000. Innealta Capital LLC bought a new stake in shares of Pacira BioSciences during the second quarter valued at approximately $50,000. Finally, nVerses Capital LLC raised its stake in shares of Pacira BioSciences by 800.0% during the second quarter. nVerses Capital LLC now owns 1,800 shares of the company's stock valued at $51,000 after acquiring an additional 1,600 shares in the last quarter. 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.