Insider Buying: Pacira BioSciences, Inc. (NASDAQ:PCRX) CEO Acquires $99,994.40 in Stock

Pacira BioSciences, Inc. (NASDAQ:PCRX) CEO Frank D. Lee bought 8,264 shares of the business’s stock in a transaction on Monday, August 12th. The stock was bought at an average price of $12.10 per share, for a total transaction of $99,994.40. Following the completion of the purchase, the chief executive officer now directly owns 107,784 shares of the company’s stock, valued at approximately $1,304,186.40. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

Pacira BioSciences Trading Up 7.1 %

Shares of PCRX stock opened at $13.35 on Friday. The stock has a 50-day simple moving average of $22.59 and a 200 day simple moving average of $26.88. The stock has a market capitalization of $615.84 million, a P/E ratio of 9.34 and a beta of 0.88. Pacira BioSciences, Inc. has a fifty-two week low of $11.16 and a fifty-two week high of $38.23. The company has a quick ratio of 5.70, a current ratio of 6.82 and a debt-to-equity ratio of 0.67.

Institutional Investors Weigh In On Pacira BioSciences

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Mirae Asset Global Investments Co. Ltd. lifted its stake in Pacira BioSciences by 5.7% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 21,973 shares of the company’s stock valued at $741,000 after purchasing an additional 1,186 shares during the last quarter. Louisiana State Employees Retirement System acquired a new position in shares of Pacira BioSciences in the fourth quarter worth about $783,000. Cornercap Investment Counsel Inc. increased its position in shares of Pacira BioSciences by 14.1% in the fourth quarter. Cornercap Investment Counsel Inc. now owns 35,375 shares of the company’s stock worth $1,194,000 after acquiring an additional 4,368 shares in the last quarter. abrdn plc lifted its position in shares of Pacira BioSciences by 14.3% in the 4th quarter. abrdn plc now owns 448,691 shares of the company’s stock valued at $15,139,000 after acquiring an additional 56,081 shares in the last quarter. Finally, Duality Advisers LP lifted its position in shares of Pacira BioSciences by 4.9% in the 4th quarter. Duality Advisers LP now owns 34,179 shares of the company’s stock valued at $1,153,000 after acquiring an additional 1,591 shares in the last quarter. 99.73% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. HC Wainwright reduced their target price on shares of Pacira BioSciences from $57.00 to $39.00 and set a “buy” rating for the company in a research note on Monday. Barclays cut Pacira BioSciences from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $38.00 to $25.00 in a research report on Wednesday, July 3rd. Piper Sandler lowered Pacira BioSciences from an “overweight” rating to a “neutral” rating and reduced their price target for the stock from $42.00 to $11.00 in a research report on Monday. Royal Bank of Canada lowered Pacira BioSciences from an “outperform” rating to a “sector perform” rating and lowered their price target for the company from $37.00 to $14.00 in a report on Monday. Finally, Raymond James cut shares of Pacira BioSciences from an “outperform” rating to a “market perform” rating in a research note on Monday. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $24.78.

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.