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

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

A number of other research analysts have also recently commented on PCRX. JPMorgan Chase & Co. restated an “underweight” rating and issued a $10.00 price target (down previously from $45.00) on shares of Pacira BioSciences in a research report on Monday. Piper Sandler reissued an “overweight” rating and issued a $42.00 target price on shares of Pacira BioSciences in a report on Wednesday, July 3rd. StockNews.com raised shares of Pacira BioSciences from a “buy” rating to a “strong-buy” rating in a report on Thursday, August 1st. Barclays cut shares of Pacira BioSciences from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $38.00 to $25.00 in a research note on Wednesday, July 3rd. Finally, Truist Financial decreased their price target on Pacira BioSciences from $45.00 to $30.00 and set a “buy” rating on the stock in a research note on Thursday, July 25th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Pacira BioSciences has an average rating of “Hold” and a consensus target price of $24.78.

Pacira BioSciences Stock Up 0.9 %

Shares of PCRX opened at $12.40 on Monday. 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 12 month low of $11.16 and a 12 month high of $38.23. The firm’s 50 day moving average is $23.26 and its 200-day moving average is $27.08. The stock has a market capitalization of $577.17 million, a PE ratio of 8.67 and a beta of 0.88.

Insider Transactions at Pacira BioSciences

In other Pacira BioSciences news, insider Jonathan Slonin sold 5,012 shares of the company’s stock in a transaction dated Tuesday, June 11th. The stock was sold at an average price of $28.57, for a total value of $143,192.84. Following the completion of the transaction, the insider now owns 44,569 shares of the company’s stock, valued at approximately $1,273,336.33. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Pacira BioSciences news, insider Jonathan Slonin sold 5,012 shares of the business’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 sale, the insider now directly owns 44,569 shares of the company’s stock, valued at approximately $1,273,336.33. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Daryl Gaugler sold 1,000 shares of the firm’s stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $28.38, for a total transaction of $28,380.00. Following the transaction, the chief operating officer now directly owns 116,040 shares of the company’s stock, valued at approximately $3,293,215.20. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 22,095 shares of company stock worth $621,118. Corporate insiders own 6.40% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of PCRX. ICA Group Wealth Management LLC bought a new position in shares of Pacira BioSciences during the fourth quarter worth about $30,000. GAMMA Investing LLC increased its position in Pacira BioSciences by 229.6% during the 2nd quarter. GAMMA Investing LLC now owns 1,338 shares of the company’s stock valued at $38,000 after purchasing an additional 932 shares during the period. Park Place Capital Corp bought a new position in Pacira BioSciences during the 2nd quarter worth approximately $46,000. Innealta Capital LLC acquired a new position in shares of Pacira BioSciences in the 2nd quarter worth approximately $50,000. Finally, nVerses Capital LLC boosted 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 purchasing an additional 1,600 shares during the last quarter. 99.73% of the stock is 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.