Pacira BioSciences, Inc. (NASDAQ:PCRX) Given Consensus Rating of “Hold” by Analysts

Pacira BioSciences, Inc. (NASDAQ:PCRX) has been given an average recommendation of “Hold” by the ten research firms that are presently covering the firm, Marketbeat.com reports. Two research analysts have rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $24.30.

PCRX has been the topic of a number of recent analyst reports. Needham & Company LLC reissued a “buy” rating and issued a $22.00 price target on shares of Pacira BioSciences in a report on Friday. StockNews.com lowered shares of Pacira BioSciences from a “strong-buy” rating to a “buy” rating in a report on Monday, August 12th. Truist Financial downgraded shares of Pacira BioSciences from a “buy” rating to a “sell” rating and cut their price target for the company from $30.00 to $8.00 in a report on Tuesday, August 13th. Raymond James cut shares of Pacira BioSciences from an “outperform” rating to a “market perform” rating in a report on Monday, August 12th. Finally, Royal Bank of Canada lifted their price objective on Pacira BioSciences from $15.00 to $16.00 and gave the company a “sector perform” rating in a research note on Thursday.

Pacira BioSciences Stock Performance

Shares of PCRX opened at $17.24 on Tuesday. Pacira BioSciences has a 52-week low of $11.16 and a 52-week high of $35.95. The stock’s 50-day simple moving average is $15.62 and its 200 day simple moving average is $20.96. The company has a debt-to-equity ratio of 0.67, a quick ratio of 5.70 and a current ratio of 6.82. The stock has a market capitalization of $796.02 million, a price-to-earnings ratio of -8.49 and a beta of 0.82.

Insider Transactions at Pacira BioSciences

In other news, CEO Frank D. Lee acquired 8,264 shares of the firm’s stock in a transaction that occurred on Monday, August 12th. The shares were bought at an average cost of $12.10 per share, with a total value of $99,994.40. Following the acquisition, the chief executive officer now owns 107,784 shares in the company, valued at approximately $1,304,186.40. This represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In the last three months, insiders bought 11,176 shares of company stock worth $136,240. 6.40% of the stock is currently 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 business. Intech Investment Management LLC bought a new position in shares of Pacira BioSciences during the third quarter valued at about $191,000. Connor Clark & Lunn Investment Management Ltd. bought a new position in Pacira BioSciences during the 3rd quarter worth approximately $1,212,000. Segall Bryant & Hamill LLC bought a new position in Pacira BioSciences during the 3rd quarter worth approximately $483,000. Quest Partners LLC increased its stake in Pacira BioSciences by 137.6% in the 3rd quarter. Quest Partners LLC now owns 9,410 shares of the company’s stock worth $142,000 after purchasing an additional 5,449 shares during the period. Finally, Empowered Funds LLC bought a new stake in Pacira BioSciences in the third quarter valued at approximately $3,286,000. Hedge funds and other institutional investors 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.