Truist Financial Downgrades Pacira BioSciences (NASDAQ:PCRX) to Sell

Pacira BioSciences (NASDAQ:PCRX) was downgraded by research analysts at Truist Financial from a “buy” rating to a “sell” rating in a research report issued on Tuesday, Marketbeat reports. They currently have a $8.00 price target on the stock, down from their previous price target of $30.00. Truist Financial’s target price would indicate a potential downside of 35.85% from the company’s previous close.

PCRX has been the topic of a number of other reports. Piper Sandler lowered shares of Pacira BioSciences from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $42.00 to $11.00 in a research report on Monday. Needham & Company LLC reduced their price target on Pacira BioSciences from $43.00 to $22.00 and set a “buy” rating on the stock in a report on Monday. Raymond James cut Pacira BioSciences from an “outperform” rating to a “market perform” rating in a report on Monday. StockNews.com lowered Pacira BioSciences from a “strong-buy” rating to a “buy” rating in a research note on Monday. Finally, HC Wainwright lowered their target price on shares of Pacira BioSciences from $57.00 to $39.00 and set a “buy” rating for the company in a research note on Monday. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, Pacira BioSciences currently has an average rating of “Hold” and a consensus target price of $24.78.

Pacira BioSciences Trading Up 0.6 %

PCRX stock opened at $12.47 on Tuesday. The firm’s fifty day simple moving average is $22.91 and its two-hundred day simple moving average is $26.98. The stock has a market capitalization of $575.24 million, a price-to-earnings ratio of 8.72 and a beta of 0.88. The company has a quick ratio of 5.70, a current ratio of 6.82 and a debt-to-equity ratio of 0.67. Pacira BioSciences has a twelve month low of $11.16 and a twelve month high of $38.23.

Insider Activity at Pacira BioSciences

In other Pacira BioSciences news, CEO Frank D. Lee bought 8,264 shares of the company’s stock in a transaction on Monday, August 12th. The shares were bought at an average cost of $12.10 per share, for a total transaction of $99,994.40. Following the acquisition, the chief executive officer now directly owns 107,784 shares in the company, valued at $1,304,186.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, COO Daryl Gaugler sold 1,000 shares of Pacira BioSciences stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $28.38, for a total value of $28,380.00. Following the transaction, the chief operating officer now directly owns 116,040 shares in the company, valued at approximately $3,293,215.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Frank D. Lee purchased 8,264 shares of Pacira BioSciences stock in a transaction dated Monday, August 12th. The stock was bought at an average cost of $12.10 per share, with a total value of $99,994.40. Following the completion of the transaction, the chief executive officer now owns 107,784 shares in the company, valued at approximately $1,304,186.40. The disclosure for this purchase can be found here. Insiders sold 22,095 shares of company stock worth $621,118 over the last three months. 6.40% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Pacira BioSciences

A number of large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in shares of Pacira BioSciences by 0.3% in the 1st quarter. Vanguard Group Inc. now owns 5,113,384 shares of the company’s stock valued at $149,413,000 after buying an additional 14,960 shares in the last quarter. Pacer Advisors Inc. boosted its stake in Pacira BioSciences by 37.5% in the second quarter. Pacer Advisors Inc. now owns 2,162,787 shares of the company’s stock valued at $61,877,000 after acquiring an additional 590,082 shares in the last quarter. Frontier Capital Management Co. LLC grew its holdings in Pacira BioSciences by 15.8% in 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 last quarter. Renaissance Technologies LLC grew its holdings in Pacira BioSciences by 9.8% in the second quarter. Renaissance Technologies LLC now owns 2,066,197 shares of the company’s stock worth $59,114,000 after purchasing an additional 184,000 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its position in shares of Pacira BioSciences by 12.2% during the second quarter. Dimensional Fund Advisors LP now owns 1,828,065 shares of the company’s stock worth $52,300,000 after purchasing an additional 198,936 shares in the last quarter. 99.73% of the stock is currently owned by institutional investors.

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.