Jefferies Financial Group Boosts Pacira BioSciences (NASDAQ:PCRX) Price Target to $18.00

Pacira BioSciences (NASDAQ:PCRX) had its price objective lifted by investment analysts at Jefferies Financial Group from $15.00 to $18.00 in a note issued to investors on Tuesday, Benzinga reports. The firm currently has a “buy” rating on the stock. Jefferies Financial Group’s target price indicates a potential upside of 22.12% from the stock’s current price.

PCRX has been the subject of a number of other research reports. Raymond James lowered shares of Pacira BioSciences from an “outperform” rating to a “market perform” rating in a research note on Monday, August 12th. JPMorgan Chase & Co. restated an “underweight” rating and set a $10.00 price objective (down from $45.00) on shares of Pacira BioSciences in a research note on Monday, August 12th. StockNews.com lowered Pacira BioSciences from a “strong-buy” rating to a “buy” rating in a research report on Monday, August 12th. Royal Bank of Canada cut shares of Pacira BioSciences from an “outperform” rating to a “sector perform” rating and dropped their price objective for the stock from $37.00 to $14.00 in a report on Monday, August 12th. Finally, HC Wainwright decreased 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 report on Monday, August 12th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $24.10.

Pacira BioSciences Trading Up 3.2 %

Shares of PCRX stock traded up $0.46 during mid-day trading on Tuesday, reaching $14.74. The company’s stock had a trading volume of 295,933 shares, compared to its average volume of 902,695. The company has a quick ratio of 5.70, a current ratio of 6.82 and a debt-to-equity ratio of 0.67. The firm has a market capitalization of $686.09 million, a PE ratio of 10.30 and a beta of 0.84. The company’s 50 day simple moving average is $16.34 and its 200-day simple moving average is $23.83. Pacira BioSciences has a 12-month low of $11.16 and a 12-month high of $35.95.

Pacira BioSciences (NASDAQ:PCRX) last announced its earnings results on Tuesday, July 30th. The company reported $0.64 earnings per share for the quarter, beating the consensus estimate of $0.53 by $0.11. The business had revenue of $178.02 million during the quarter, compared to the consensus estimate of $173.31 million. Pacira BioSciences had a net margin of 9.21% and a return on equity of 13.22%. On average, research analysts predict that Pacira BioSciences will post 2.24 EPS for the current fiscal year.

Insider Transactions at Pacira BioSciences

In other news, insider Jonathan Slonin sold 2,836 shares of the stock in a transaction on Tuesday, July 2nd. The shares were sold at an average price of $28.25, for a total transaction of $80,117.00. Following the transaction, the insider now owns 95,557 shares in the company, valued at approximately $2,699,485.25. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, insider Jonathan Slonin sold 2,836 shares of the business’s stock in a transaction dated Tuesday, July 2nd. The stock was sold at an average price of $28.25, for a total transaction of $80,117.00. Following the completion of the transaction, the insider now owns 95,557 shares of the company’s stock, valued at approximately $2,699,485.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Frank D. Lee bought 8,264 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The shares were bought at an average cost of $12.10 per share, for a total transaction of $99,994.40. Following the transaction, the chief executive officer now directly owns 107,784 shares of the company’s stock, valued at approximately $1,304,186.40. The disclosure for this purchase can be found here. Over the last three months, insiders purchased 11,176 shares of company stock valued at $136,240 and sold 4,281 shares valued at $105,494. 6.40% of the stock is owned by insiders.

Institutional Trading of Pacira BioSciences

A number of hedge funds have recently modified their holdings of PCRX. Jane Street Group LLC lifted its position in Pacira BioSciences by 1,780.2% in the first quarter. Jane Street Group LLC now owns 187,531 shares of the company’s stock worth $5,480,000 after purchasing an additional 177,557 shares during the period. Legato Capital Management LLC lifted its position in Pacira BioSciences by 74.0% during the 2nd quarter. Legato Capital Management LLC now owns 52,913 shares of the company’s stock worth $1,514,000 after buying an additional 22,497 shares in the last quarter. Cobalt Capital Management Inc. bought a new stake in Pacira BioSciences during the 4th quarter worth about $3,037,000. Bridge City Capital LLC acquired a new stake in Pacira BioSciences in the 1st quarter valued at about $1,810,000. Finally, WINTON GROUP Ltd bought a new position in shares of Pacira BioSciences in the second quarter worth about $2,726,000. Institutional investors own 99.73% of the company’s stock.

Pacira BioSciences Company Profile

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.