Pacira BioSciences (NASDAQ:PCRX) Trading Down 6.4% – Time to Sell?

Shares of Pacira BioSciences, Inc. (NASDAQ:PCRX) dropped 6.4% during mid-day trading on Tuesday . The company traded as low as $16.29 and last traded at $16.31. Approximately 109,590 shares changed hands during trading, a decline of 87% from the average daily volume of 846,311 shares. The stock had previously closed at $17.42.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Royal Bank of Canada boosted their price target on Pacira BioSciences from $15.00 to $16.00 and gave the company a “sector perform” rating in a report on Thursday, November 7th. Needham & Company LLC reaffirmed a “buy” rating and set a $22.00 price target on shares of Pacira BioSciences in a research report on Friday, November 8th. Raymond James cut shares of Pacira BioSciences from an “outperform” rating to a “market perform” rating in a research note on Monday, August 12th. JPMorgan Chase & Co. reissued an “underweight” rating and issued a $10.00 price objective (down previously from $45.00) on shares of Pacira BioSciences in a research report on Monday, August 12th. Finally, Jefferies Financial Group raised their target price on shares of Pacira BioSciences from $15.00 to $18.00 and gave the company 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 given a buy rating to the company’s stock. Based on data from MarketBeat.com, Pacira BioSciences has a consensus rating of “Hold” and an average price target of $23.50.

Pacira BioSciences Trading Down 0.8 %

The business’s 50-day moving average price is $16.37 and its 200 day moving average price is $20.03. 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 company has a market cap of $768.27 million, a P/E ratio of -8.20 and a beta of 0.82.

Hedge Funds Weigh In On Pacira BioSciences

Institutional investors and hedge funds have recently modified their holdings of the stock. GAMMA Investing LLC grew its stake in Pacira BioSciences by 229.6% in the 2nd quarter. GAMMA Investing LLC now owns 1,338 shares of the company’s stock valued at $38,000 after buying an additional 932 shares during the last quarter. Outfitter Financial LLC boosted its holdings in shares of Pacira BioSciences by 5.7% during the second quarter. Outfitter Financial LLC now owns 20,190 shares of the company’s stock worth $578,000 after acquiring an additional 1,095 shares during the period. The Manufacturers Life Insurance Company grew its position in shares of Pacira BioSciences by 6.0% in the second quarter. The Manufacturers Life Insurance Company now owns 23,932 shares of the company’s stock valued at $685,000 after purchasing an additional 1,354 shares during the last quarter. Park Place Capital Corp bought a new position in shares of Pacira BioSciences during the second quarter worth approximately $46,000. Finally, nVerses Capital LLC lifted its holdings in Pacira BioSciences by 800.0% during the 2nd 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 last quarter. 99.73% of the stock is currently 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.