Barclays Issues Pessimistic Forecast for Pacira BioSciences (NASDAQ:PCRX) Stock Price

Pacira BioSciences (NASDAQ:PCRX) had its price objective lowered by equities researchers at Barclays from $25.00 to $17.00 in a report released on Tuesday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Barclays‘s target price suggests a potential upside of 3.34% from the company’s current price.

PCRX has been the subject of several other reports. Raymond James cut shares of Pacira BioSciences from an “outperform” rating to a “market perform” rating in a research note on Monday, August 12th. Piper Sandler lowered shares of Pacira BioSciences from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $42.00 to $11.00 in a report on Monday, August 12th. JPMorgan Chase & Co. reiterated an “underweight” rating and set a $10.00 price objective (down previously from $45.00) on shares of Pacira BioSciences in a research note on Monday, August 12th. Truist Financial cut Pacira BioSciences from a “buy” rating to a “sell” rating and decreased their price objective for the company from $30.00 to $8.00 in a report on Tuesday, August 13th. Finally, Jefferies Financial Group raised their target price on Pacira BioSciences from $15.00 to $18.00 and gave the stock a “buy” rating in a report on Tuesday, September 24th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $23.50.

Pacira BioSciences Stock Down 2.1 %

Shares of PCRX stock opened at $16.45 on Tuesday. Pacira BioSciences has a fifty-two week low of $11.16 and a fifty-two week high of $35.95. The firm has a market capitalization of $759.55 million, a PE ratio of -8.10 and a beta of 0.82. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.89 and a current ratio of 2.25. The stock’s 50-day simple moving average is $15.69 and its 200-day simple moving average is $20.81.

Institutional Trading of Pacira BioSciences

Institutional investors and hedge funds have recently made changes to their positions in the business. Jane Street Group LLC grew its stake in Pacira BioSciences by 1,780.2% in the 1st quarter. Jane Street Group LLC now owns 187,531 shares of the company’s stock valued at $5,480,000 after acquiring an additional 177,557 shares during the period. Dimensional Fund Advisors LP grew its position in shares of Pacira BioSciences by 12.2% in the second quarter. Dimensional Fund Advisors LP now owns 1,828,065 shares of the company’s stock valued at $52,300,000 after purchasing an additional 198,936 shares during the period. Legato Capital Management LLC increased its stake in shares of Pacira BioSciences by 74.0% during the second quarter. Legato Capital Management LLC now owns 52,913 shares of the company’s stock worth $1,514,000 after purchasing an additional 22,497 shares in the last quarter. WINTON GROUP Ltd acquired a new position 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% in the 1st quarter. QRG Capital Management Inc. now owns 22,708 shares of the company’s stock valued at $664,000 after buying an additional 6,721 shares in the last quarter. 99.73% of the stock is currently owned by hedge funds and other 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.