Brokerages Set Pacira BioSciences, Inc. (NASDAQ:PCRX) Price Target at $24.20

Pacira BioSciences, Inc. (NASDAQ:PCRX) has been assigned a consensus recommendation of “Hold” from the ten analysts that are covering the company, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating on the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $24.30.

PCRX has been the subject of a number of analyst reports. HC Wainwright decreased their price objective on shares of Pacira BioSciences from $57.00 to $39.00 and set a “buy” rating for the company in a report on Monday, August 12th. 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, August 12th. Jefferies Financial Group lifted their target price on Pacira BioSciences from $15.00 to $18.00 and gave the stock a “buy” rating in a report on Tuesday, September 24th. Raymond James downgraded Pacira BioSciences from an “outperform” rating to a “market perform” rating in a report on Monday, August 12th. Finally, StockNews.com cut Pacira BioSciences from a “strong-buy” rating to a “buy” rating in a report on Monday, August 12th.

Insiders Place Their Bets

In other Pacira BioSciences news, CEO Frank D. Lee purchased 8,264 shares of the business’s stock in a transaction 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 transaction, the chief executive officer now directly owns 107,784 shares of the company’s stock, valued at $1,304,186.40. This represents a 0.00 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders bought a total of 11,176 shares of company stock valued at $136,240 in the last quarter. 6.40% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in PCRX. Pacer Advisors Inc. raised its holdings in shares of Pacira BioSciences by 37.5% in the 2nd quarter. Pacer Advisors Inc. now owns 2,162,787 shares of the company’s stock valued at $61,877,000 after purchasing an additional 590,082 shares during the period. Archon Capital Management LLC acquired a new position in Pacira BioSciences during the first quarter worth approximately $15,677,000. Fort Washington Investment Advisors Inc. OH bought a new stake in Pacira BioSciences in the second quarter valued at approximately $13,240,000. Assenagon Asset Management S.A. lifted its position in shares of Pacira BioSciences by 314.4% in the third quarter. Assenagon Asset Management S.A. now owns 553,114 shares of the company’s stock valued at $8,324,000 after buying an additional 419,656 shares during the last quarter. Finally, Doma Perpetual Capital Management LLC lifted its position in shares of Pacira BioSciences by 71.8% in the second quarter. Doma Perpetual Capital Management LLC now owns 1,000,761 shares of the company’s stock valued at $28,632,000 after buying an additional 418,321 shares during the last quarter. Institutional investors and hedge funds own 99.73% of the company’s stock.

Pacira BioSciences Price Performance

Pacira BioSciences stock opened at $17.70 on Tuesday. The firm has a market capitalization of $816.50 million, a P/E ratio of 13.51 and a beta of 0.82. The business has a 50-day moving average of $15.59 and a 200-day moving average of $21.07. The company has a current ratio of 6.82, a quick ratio of 5.70 and a debt-to-equity ratio of 0.67. Pacira BioSciences has a 1 year low of $11.16 and a 1 year high of $35.95.

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.