Pacira BioSciences (NASDAQ:PCRX) Given “Underweight” Rating at JPMorgan Chase & Co.

Pacira BioSciences (NASDAQ:PCRX)‘s stock had its “underweight” rating reaffirmed by stock analysts at JPMorgan Chase & Co. in a note issued to investors on Monday, MarketBeat Ratings reports. They currently have a $10.00 target price on the stock, down from their previous target price of $45.00. JPMorgan Chase & Co.‘s price objective would suggest a potential downside of 19.35% from the stock’s current price.

A number of other research analysts also recently issued reports on the company. HC Wainwright decreased their price objective on Pacira BioSciences from $57.00 to $39.00 and set a “buy” rating for the company in a report on Monday. Royal Bank of Canada decreased their price target on shares of Pacira BioSciences from $42.00 to $37.00 and set an “outperform” rating for the company in a research note on Wednesday, July 31st. StockNews.com raised shares of Pacira BioSciences from a “buy” rating to a “strong-buy” rating in a research report on Thursday, August 1st. Truist Financial decreased their target price on shares of Pacira BioSciences from $45.00 to $30.00 and set a “buy” rating for the company in a research report on Thursday, July 25th. Finally, Barclays downgraded shares of Pacira BioSciences from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $38.00 to $25.00 in a research note on Wednesday, July 3rd. 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’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $24.78.

Pacira BioSciences Price Performance

Shares of NASDAQ PCRX opened at $12.40 on Monday. The company has a fifty day moving average price of $23.26 and a 200 day moving average price of $27.08. The firm has a market cap of $577.17 million, a PE ratio of 8.67 and a beta of 0.88. The company has a current ratio of 6.82, a quick ratio of 5.70 and a debt-to-equity ratio of 0.67. Pacira BioSciences has a 1-year low of $11.16 and a 1-year high of $38.23.

Insiders Place Their Bets

In other Pacira BioSciences news, insider Jonathan Slonin sold 5,012 shares of the firm’s stock in a transaction that occurred on Tuesday, June 11th. The shares were sold at an average price of $28.57, for a total transaction of $143,192.84. Following the completion of the sale, the insider now directly owns 44,569 shares in the company, valued at $1,273,336.33. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Jonathan Slonin sold 5,012 shares of the firm’s stock in a transaction that occurred on Tuesday, June 11th. The shares were 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 of the company’s stock, valued at $1,273,336.33. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Lauren Riker sold 3,970 shares of the firm’s stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $28.72, for a total value of $114,018.40. Following the completion of the transaction, the senior vice president now owns 38,075 shares in the company, valued at approximately $1,093,514. The disclosure for this sale can be found here. Insiders have sold a total of 22,095 shares of company stock valued at $621,118 over the last 90 days. 6.40% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Pacira BioSciences

A number of hedge funds have recently made changes to their positions in PCRX. ICA Group Wealth Management LLC acquired a new stake in shares of Pacira BioSciences during the 4th quarter valued at $30,000. GAMMA Investing LLC increased its position in shares of 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 buying an additional 932 shares during the period. Park Place Capital Corp bought a new stake in shares of Pacira BioSciences during the 2nd quarter valued at about $46,000. Innealta Capital LLC bought a new stake in shares of Pacira BioSciences in the 2nd quarter valued at $50,000. Finally, nVerses Capital LLC grew 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 valued at $51,000 after buying an additional 1,600 shares during the period. 99.73% of the stock is currently owned by institutional investors and hedge funds.

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.