Pacira BioSciences (NASDAQ:PCRX) PT Lowered to $37.00 at Royal Bank of Canada

Pacira BioSciences (NASDAQ:PCRX) had its price target cut by Royal Bank of Canada from $42.00 to $37.00 in a research report released on Wednesday morning, Benzinga reports. They currently have an outperform rating on the stock.

Several other research firms also recently issued reports on PCRX. Piper Sandler reiterated an overweight rating and set a $42.00 price objective on shares of Pacira BioSciences in a research note on Wednesday, July 3rd. Barclays cut shares of Pacira BioSciences from an overweight rating to an equal weight rating and decreased their price target for the stock from $38.00 to $25.00 in a research report on Wednesday, July 3rd. Truist Financial cut their price objective on Pacira BioSciences from $45.00 to $30.00 and set a buy rating on the stock in a research report on Thursday, July 25th. HC Wainwright reaffirmed a buy rating and issued a $57.00 target price on shares of Pacira BioSciences in a research report on Tuesday, July 2nd. Finally, Needham & Company LLC reiterated a buy rating and set a $43.00 target price on shares of Pacira BioSciences in a report on Wednesday. One equities research analyst has rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Pacira BioSciences has a consensus rating of Buy and a consensus price target of $42.30.

Pacira BioSciences Price Performance

Shares of Pacira BioSciences stock opened at $21.26 on Wednesday. The business’s fifty day moving average price is $25.03 and its 200 day moving average price is $27.86. Pacira BioSciences has a twelve month low of $19.34 and a twelve month high of $40.16. The company has a current ratio of 6.82, a quick ratio of 4.78 and a debt-to-equity ratio of 0.67. The stock has a market capitalization of $980.72 million, a P/E ratio of 14.87 and a beta of 0.88.

Pacira BioSciences (NASDAQ:PCRX) last released its quarterly earnings data on Tuesday, May 7th. The company reported $0.42 EPS for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.04). Pacira BioSciences had a return on equity of 13.22% and a net margin of 9.21%. The firm had revenue of $167.12 million during the quarter, compared to analysts’ expectations of $165.43 million. As a group, research analysts anticipate that Pacira BioSciences will post 2.13 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Kristen Williams sold 7,452 shares of the stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $28.38, for a total transaction of $211,487.76. Following the completion of the transaction, the insider now directly owns 102,912 shares in the company, valued at approximately $2,920,642.56. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, insider Kristen Williams sold 7,452 shares of the business’s stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $28.38, for a total value of $211,487.76. Following the completion of the sale, the insider now owns 102,912 shares of the company’s stock, valued at approximately $2,920,642.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jonathan Slonin sold 5,012 shares of the stock in a transaction dated Tuesday, June 11th. The stock was sold at an average price of $28.57, for a total transaction of $143,192.84. Following the transaction, the insider now directly owns 44,569 shares in the company, valued at approximately $1,273,336.33. The disclosure for this sale can be found here. Insiders have sold 22,095 shares of company stock worth $621,118 in the last three months. 6.40% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. lifted its stake in Pacira BioSciences by 0.3% during the first quarter. Vanguard Group Inc. now owns 5,113,384 shares of the company’s stock worth $149,413,000 after purchasing an additional 14,960 shares during the last quarter. Frontier Capital Management Co. LLC raised its holdings in shares of Pacira BioSciences by 15.8% during the fourth quarter. Frontier Capital Management Co. LLC now owns 2,084,542 shares of the company’s stock worth $70,332,000 after purchasing an additional 285,045 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of Pacira BioSciences by 1.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,411,767 shares of the company’s stock worth $47,633,000 after buying an additional 17,949 shares during the last quarter. Vestal Point Capital LP acquired a new position in shares of Pacira BioSciences in the 4th quarter valued at about $40,488,000. Finally, Clearbridge Investments LLC grew its position in shares of Pacira BioSciences by 2.3% during the 1st quarter. Clearbridge Investments LLC now owns 1,172,150 shares of the company’s stock valued at $34,250,000 after buying an additional 26,463 shares during the last quarter. Institutional investors and hedge funds 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.