Pacira BioSciences' (PCRX) Buy Rating Reaffirmed at Needham & Company LLC

Pacira BioSciences (NASDAQ:PCRX - Get Free Report)'s stock had its "buy" rating reaffirmed by equities researchers at Needham & Company LLC in a research report issued to clients and investors on Friday,Benzinga reports. They presently have a $22.00 price objective on the stock. Needham & Company LLC's price target would indicate a potential upside of 27.61% from the stock's previous close.

PCRX has been the topic of a number of other research reports. Truist Financial cut Pacira BioSciences from a "buy" rating to a "sell" rating and reduced their target price for the company from $30.00 to $8.00 in a report on Tuesday, August 13th. HC Wainwright decreased 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. Royal Bank of Canada boosted their target price on shares of Pacira BioSciences from $15.00 to $16.00 and gave the stock a "sector perform" rating in a research report on Thursday. JPMorgan Chase & Co. reaffirmed an "underweight" rating and set a $10.00 price target (down from $45.00) on shares of Pacira BioSciences in a report on Monday, August 12th. Finally, Piper Sandler cut shares of Pacira BioSciences from an "overweight" rating to a "neutral" rating and decreased their price objective 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 five have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $24.30.

Pacira BioSciences Trading Down 2.6 %

Shares of NASDAQ PCRX traded down $0.46 on Friday, reaching $17.24. 756,242 shares of the company traded hands, compared to its average volume of 862,429. Pacira BioSciences has a fifty-two week low of $11.16 and a fifty-two week high of $35.95. The company has a 50 day moving average of $15.59 and a 200 day moving average of $21.07. The stock has a market capitalization of $795.28 million, a PE ratio of 13.51 and a beta of 0.82. The company has a current ratio of 6.82, a quick ratio of 5.70 and a debt-to-equity ratio of 0.67.

Insiders Place Their Bets

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 acquired at an average price 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 in the company, valued at approximately $1,304,186.40. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders have acquired 11,176 shares of company stock valued at $136,240 over the last quarter. Insiders own 6.40% of the company's stock.

Hedge Funds Weigh In On Pacira BioSciences

Several institutional investors have recently modified their holdings of PCRX. GAMMA Investing LLC grew its position 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 purchasing an additional 932 shares during the last quarter. Park Place Capital Corp bought a new position in shares of Pacira BioSciences in the second quarter worth $46,000. Innealta Capital LLC acquired a new stake in Pacira BioSciences in the second quarter worth about $50,000. nVerses Capital LLC lifted its stake in shares of Pacira BioSciences by 800.0% in the 2nd quarter. nVerses Capital LLC now owns 1,800 shares of the company's stock worth $51,000 after acquiring an additional 1,600 shares during the period. Finally, Natixis acquired a new position in shares of Pacira BioSciences during the first quarter valued at approximately $95,000. Institutional investors own 99.73% of the company's stock.

Pacira BioSciences Company Profile

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.