Pacira BioSciences (NASDAQ:PCRX) Stock Rating Lowered by Piper Sandler

Piper Sandler cut shares of Pacira BioSciences (NASDAQ:PCRX) from an overweight rating to a neutral rating in a research report released on Monday, MarketBeat.com reports. The brokerage currently has $11.00 price target on the stock, down from their previous price target of $42.00.

Several other research analysts have also recently issued reports on PCRX. Needham & Company LLC dropped their price objective on Pacira BioSciences from $43.00 to $22.00 and set a buy rating on the stock in a research note on Monday. StockNews.com upgraded Pacira BioSciences from a buy rating to a strong-buy rating in a research note on Thursday, August 1st. Truist Financial decreased their price target on shares of Pacira BioSciences from $45.00 to $30.00 and set a buy rating for the company in a research report on Thursday, July 25th. Barclays downgraded shares of Pacira BioSciences from an overweight rating to an equal weight rating and cut their price objective for the stock from $38.00 to $25.00 in a research report on Wednesday, July 3rd. Finally, Royal Bank of Canada cut shares of Pacira BioSciences from an outperform rating to a sector perform rating and decreased their target price for the company from $37.00 to $14.00 in a research report on Monday. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of Hold and a consensus price target of $24.78.

Pacira BioSciences Stock Up 0.6 %

Shares of PCRX opened at $12.47 on Monday. The firm has a fifty day moving average price of $22.91 and a 200-day moving average price of $26.98. 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 $575.24 million, a P/E ratio of 8.72 and a beta of 0.88. Pacira BioSciences has a 12-month low of $11.16 and a 12-month high of $38.23.

Insider Buying and Selling at Pacira BioSciences

In other news, insider Jonathan Slonin sold 5,012 shares of Pacira BioSciences stock in a transaction 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 completion of the sale, the insider now directly owns 44,569 shares in the company, valued at $1,273,336.33. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, insider Jonathan Slonin sold 5,012 shares of the 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 transaction, the insider now directly owns 44,569 shares of the company’s stock, valued at $1,273,336.33. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Frank D. Lee bought 8,264 shares of the firm’s stock in a transaction that occurred on Monday, August 12th. The shares were purchased 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 directly owns 107,784 shares of the company’s stock, valued at $1,304,186.40. The disclosure for this purchase can be found here. In the last quarter, insiders have sold 22,095 shares of company stock worth $621,118. 6.40% of the stock is owned by corporate insiders.

Institutional Trading of Pacira BioSciences

Hedge funds and other institutional investors have recently made changes to their positions in the business. Vestal Point Capital LP purchased a new stake in Pacira BioSciences in the fourth quarter valued at $40,488,000. Pacer Advisors Inc. boosted its stake in shares of Pacira BioSciences by 37.5% in the second quarter. Pacer Advisors Inc. now owns 2,162,787 shares of the company’s stock worth $61,877,000 after buying an additional 590,082 shares during the last quarter. Archon Capital Management LLC acquired a new stake in Pacira BioSciences during the first quarter worth about $15,677,000. Fort Washington Investment Advisors Inc. OH purchased a new position in Pacira BioSciences during the second quarter valued at approximately $13,240,000. Finally, Frontier Capital Management Co. LLC raised its position in Pacira BioSciences by 15.8% during the fourth quarter. Frontier Capital Management Co. LLC now owns 2,084,542 shares of the company’s stock valued at $70,332,000 after acquiring an additional 285,045 shares in 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.