Pacira BioSciences (NASDAQ:PCRX) Trading Down 5% - What's Next?

Pacira BioSciences, Inc. (NASDAQ:PCRX - Get Free Report) fell 5% during mid-day trading on Wednesday . The stock traded as low as $21.83 and last traded at $22.00. 221,818 shares were traded during mid-day trading, a decline of 75% from the average session volume of 889,012 shares. The stock had previously closed at $23.16.

Analyst Ratings Changes

Several brokerages have issued reports on PCRX. Barclays upped their price target on shares of Pacira BioSciences from $17.00 to $24.00 and gave the company an "overweight" rating in a research report on Friday, February 28th. HC Wainwright upped their price target on shares of Pacira BioSciences from $57.00 to $70.00 and gave the company a "buy" rating in a research report on Friday, February 28th. Royal Bank of Canada restated a "sector perform" rating and issued a $18.00 price target on shares of Pacira BioSciences in a research report on Tuesday, January 14th. Needham & Company LLC upped their price target on shares of Pacira BioSciences from $30.00 to $32.00 and gave the company a "buy" rating in a research report on Friday, February 28th. Finally, Truist Financial upgraded shares of Pacira BioSciences from a "sell" rating to a "hold" rating and upped their price target for the company from $8.00 to $25.00 in a research report on Thursday, January 30th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the company. According to MarketBeat, Pacira BioSciences has a consensus rating of "Hold" and an average target price of $27.22.

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Pacira BioSciences Price Performance

The company has a debt-to-equity ratio of 0.51, a current ratio of 2.25 and a quick ratio of 1.89. The firm has a market capitalization of $1.06 billion, a price-to-earnings ratio of -11.27 and a beta of 0.86. The business's fifty day simple moving average is $23.96 and its 200 day simple moving average is $19.28.

Institutional Investors Weigh In On Pacira BioSciences

A number of large investors have recently bought and sold shares of the stock. State of Wyoming lifted its stake in shares of Pacira BioSciences by 8.0% in the fourth quarter. State of Wyoming now owns 6,566 shares of the company's stock valued at $124,000 after buying an additional 487 shares in the last quarter. PNC Financial Services Group Inc. lifted its stake in shares of Pacira BioSciences by 16.6% in the fourth quarter. PNC Financial Services Group Inc. now owns 3,597 shares of the company's stock valued at $68,000 after buying an additional 513 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Pacira BioSciences by 3.1% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 26,077 shares of the company's stock valued at $491,000 after buying an additional 794 shares in the last quarter. China Universal Asset Management Co. Ltd. lifted its stake in shares of Pacira BioSciences by 10.3% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 9,790 shares of the company's stock valued at $184,000 after buying an additional 918 shares in the last quarter. Finally, Sterling Capital Management LLC lifted its stake in shares of Pacira BioSciences by 779.4% in the fourth quarter. Sterling Capital Management LLC now owns 1,363 shares of the company's stock valued at $26,000 after buying an additional 1,208 shares in the last quarter. 99.73% of the stock is currently owned by institutional investors and hedge funds.

Pacira BioSciences Company Profile

Pacira Biosciences, Inc is a holding company, which engages in the provision of non-opioid pain management and regenerative health solutions to improve patients' journeys along the neural pain pathway. Its products include EXPAREL, iovera, and DepoFoam. The company was founded in December 2006 and is headquartered in Tampa, FL.