Pacira BioSciences (NASDAQ:PCRX) Rating Lowered to Market Perform at Raymond James

Pacira BioSciences (NASDAQ:PCRX) was downgraded by equities research analysts at Raymond James from an “outperform” rating to a “market perform” rating in a research note issued on Monday, MarketBeat.com reports.

Other equities research analysts have also issued research reports about the stock. Royal Bank of Canada lowered shares of Pacira BioSciences from an “outperform” rating to a “sector perform” rating and cut their target price for the company from $37.00 to $14.00 in a research note on Monday. HC Wainwright reduced their target price on Pacira BioSciences from $57.00 to $39.00 and set a “buy” rating on the stock in a report on Monday. Barclays lowered Pacira BioSciences from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $38.00 to $25.00 in a research report on Wednesday, July 3rd. Truist Financial dropped their price target 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. Finally, StockNews.com upgraded shares of Pacira BioSciences from a “buy” rating to a “strong-buy” rating in a research note on Thursday, August 1st. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, Pacira BioSciences currently has a consensus rating of “Hold” and a consensus target price of $24.78.

Pacira BioSciences Trading Up 0.9 %

PCRX opened at $12.40 on Monday. Pacira BioSciences has a 12-month low of $11.16 and a 12-month high of $38.23. The company has a debt-to-equity ratio of 0.67, a current ratio of 6.82 and a quick ratio of 5.70. The stock has a market capitalization of $577.17 million, a PE ratio of 8.67 and a beta of 0.88. The firm’s fifty day moving average price is $23.26 and its 200 day moving average price is $27.08.

Insider Buying and Selling

In other news, CEO Frank D. Lee bought 8,264 shares of Pacira BioSciences stock in a transaction on Monday, August 12th. The stock was purchased at an average cost of $12.10 per share, with a total value of $99,994.40. Following the purchase, the chief executive officer now directly owns 107,784 shares of the company’s stock, valued at approximately $1,304,186.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, insider Kristen Williams sold 7,452 shares of the firm’s stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $28.38, for a total value of $211,487.76. Following the sale, the insider now directly owns 102,912 shares in the company, valued at approximately $2,920,642.56. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Frank D. Lee purchased 8,264 shares of Pacira BioSciences stock in a transaction 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 transaction, the chief executive officer now directly owns 107,784 shares in the company, valued at approximately $1,304,186.40. The disclosure for this purchase can be found here. Insiders have sold a total of 22,095 shares of company stock valued at $621,118 in the last quarter. Company insiders own 6.40% of the company’s stock.

Institutional Investors Weigh In On Pacira BioSciences

Hedge funds and other institutional investors have recently modified their holdings of the stock. ICA Group Wealth Management LLC acquired a new position in Pacira BioSciences during the 4th quarter valued at about $30,000. GAMMA Investing LLC increased its stake 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 valued at $38,000 after acquiring an additional 932 shares during the period. Park Place Capital Corp bought a new stake in Pacira BioSciences during the second quarter worth approximately $46,000. Innealta Capital LLC acquired a new stake in Pacira BioSciences in the second quarter worth approximately $50,000. Finally, nVerses Capital LLC lifted its position in Pacira BioSciences by 800.0% in the second quarter. nVerses Capital LLC now owns 1,800 shares of the company’s stock worth $51,000 after purchasing an additional 1,600 shares during the period. 99.73% of the stock is currently owned by 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.