Pacira BioSciences (NASDAQ:PCRX) Earns “Buy” Rating from Needham & Company LLC

Pacira BioSciences (NASDAQ:PCRX)‘s stock had its “buy” rating reissued by research analysts at Needham & Company LLC in a report released on Friday,Benzinga reports. They currently have a $22.00 target price on the stock. Needham & Company LLC’s target price would indicate a potential upside of 27.61% from the company’s previous close.

PCRX has been the topic of several other reports. HC Wainwright reduced their price objective on shares of Pacira BioSciences from $57.00 to $39.00 and set a “buy” rating on the stock in a report on Monday, August 12th. Royal Bank of Canada boosted their price target on shares of Pacira BioSciences from $15.00 to $16.00 and gave the company a “sector perform” rating in a research note on Thursday. Truist Financial cut shares of Pacira BioSciences from a “buy” rating to a “sell” rating and lowered their price objective for the stock from $30.00 to $8.00 in a research report on Tuesday, August 13th. JPMorgan Chase & Co. reissued an “underweight” rating and issued a $10.00 target price (down previously from $45.00) on shares of Pacira BioSciences in a research report on Monday, August 12th. Finally, Jefferies Financial Group raised their price target on Pacira BioSciences from $15.00 to $18.00 and gave the stock a “buy” rating in a research report on Tuesday, September 24th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $24.30.

Pacira BioSciences Trading Down 2.6 %

Pacira BioSciences stock traded down $0.46 during mid-day trading on Friday, hitting $17.24. The company’s stock had a trading volume of 756,242 shares, compared to its average volume of 862,430. Pacira BioSciences has a 1 year low of $11.16 and a 1 year high of $35.95. The company has a current ratio of 6.82, a quick ratio of 5.70 and a debt-to-equity ratio of 0.67. The firm has a market capitalization of $796.02 million, a PE ratio of -8.49 and a beta of 0.82. The stock’s fifty day moving average is $15.62 and its two-hundred day moving average is $20.96.

Insider Activity

In other news, CEO Frank D. Lee bought 8,264 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The shares were purchased at an average cost of $12.10 per share, for a total transaction of $99,994.40. Following the completion of the purchase, the chief executive officer now owns 107,784 shares of the company’s stock, valued at approximately $1,304,186.40. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last quarter, insiders purchased 11,176 shares of company stock worth $136,240. 6.40% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Jane Street Group LLC grew its stake in shares of Pacira BioSciences by 1,780.2% during the first quarter. Jane Street Group LLC now owns 187,531 shares of the company’s stock worth $5,480,000 after purchasing an additional 177,557 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Pacira BioSciences by 12.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,828,065 shares of the company’s stock worth $52,300,000 after acquiring an additional 198,936 shares in the last quarter. Legato Capital Management LLC increased its holdings in shares of Pacira BioSciences by 74.0% in the 2nd quarter. Legato Capital Management LLC now owns 52,913 shares of the company’s stock valued at $1,514,000 after acquiring an additional 22,497 shares during the last quarter. WINTON GROUP Ltd acquired a new stake in shares of Pacira BioSciences during the 2nd quarter worth about $2,726,000. Finally, QRG Capital Management Inc. lifted its stake in Pacira BioSciences by 42.0% during the first quarter. QRG Capital Management Inc. now owns 22,708 shares of the company’s stock worth $664,000 after purchasing an additional 6,721 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.