Barclays Cuts Pacira BioSciences (NASDAQ:PCRX) Price Target to $38.00

Pacira BioSciences (NASDAQ:PCRX) had its price target decreased by investment analysts at Barclays from $40.00 to $38.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Barclays‘s price target would suggest a potential upside of 25.50% from the stock’s previous close.

PCRX has been the topic of a number of other research reports. Royal Bank of Canada lowered their target price on shares of Pacira BioSciences from $53.00 to $45.00 and set an “outperform” rating on the stock in a report on Friday, March 1st. Wedbush reiterated an “outperform” rating and set a $57.00 price objective on shares of Pacira BioSciences in a research note on Thursday, February 8th. JPMorgan Chase & Co. started coverage on Pacira BioSciences in a research note on Thursday, March 7th. They issued an “overweight” rating and a $45.00 target price for the company. Needham & Company LLC decreased their price target on Pacira BioSciences from $45.00 to $43.00 and set a “buy” rating on the stock in a research report on Wednesday. Finally, TheStreet raised shares of Pacira BioSciences from a “d+” rating to a “c” rating in a report on Thursday, February 29th. Eleven analysts have rated the stock with a buy rating, Based on data from MarketBeat, Pacira BioSciences currently has an average rating of “Buy” and an average price target of $47.40.

Pacira BioSciences Stock Performance

Shares of NASDAQ PCRX traded up $3.77 during trading on Wednesday, reaching $30.28. 1,279,693 shares of the stock traded hands, compared to its average volume of 498,907. The company has a 50-day moving average of $28.28 and a 200-day moving average of $29.51. Pacira BioSciences has a 52-week low of $25.33 and a 52-week high of $43.50. The stock has a market capitalization of $1.41 billion, a P/E ratio of 37.00 and a beta of 0.77. The company has a debt-to-equity ratio of 0.59, a current ratio of 5.24 and a quick ratio of 4.17.

Pacira BioSciences (NASDAQ:PCRX) last released its quarterly earnings data on Thursday, February 29th. The company reported $0.71 EPS for the quarter, meeting the consensus estimate of $0.71. The business had revenue of $181.24 million for the quarter, compared to the consensus estimate of $180.60 million. Pacira BioSciences had a net margin of 6.22% and a return on equity of 12.81%. Analysts forecast that Pacira BioSciences will post 2.17 EPS for the current fiscal year.

Insider Buying and Selling

In other Pacira BioSciences news, Director Gary W. Pace sold 90,000 shares of the business’s stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $30.60, for a total value of $2,754,000.00. Following the completion of the transaction, the director now owns 22,127 shares of the company’s stock, valued at approximately $677,086.20. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, Director Gary W. Pace sold 90,000 shares of the stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $30.60, for a total transaction of $2,754,000.00. Following the transaction, the director now directly owns 22,127 shares in the company, valued at approximately $677,086.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Gary W. Pace sold 1,066 shares of the firm’s stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $29.67, for a total value of $31,628.22. Following the transaction, the director now directly owns 140,384 shares in the company, valued at $4,165,193.28. The disclosure for this sale can be found here. 6.60% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. abrdn plc lifted its holdings in Pacira BioSciences by 14.3% in the 4th quarter. abrdn plc now owns 448,691 shares of the company’s stock worth $15,139,000 after buying an additional 56,081 shares during the period. Gradient Investments LLC raised its holdings in Pacira BioSciences by 33.0% in the 4th quarter. Gradient Investments LLC now owns 139,949 shares of the company’s stock worth $4,722,000 after purchasing an additional 34,723 shares in the last quarter. Gotham Asset Management LLC lifted its position in shares of Pacira BioSciences by 16.8% in the 3rd quarter. Gotham Asset Management LLC now owns 22,317 shares of the company’s stock worth $685,000 after purchasing an additional 3,203 shares during the period. Assenagon Asset Management S.A. boosted its stake in shares of Pacira BioSciences by 185.2% during the 4th quarter. Assenagon Asset Management S.A. now owns 246,621 shares of the company’s stock valued at $8,321,000 after purchasing an additional 160,149 shares in the last quarter. Finally, Boston Partners increased its position in shares of Pacira BioSciences by 105.4% during the third quarter. Boston Partners now owns 108,509 shares of the company’s stock valued at $3,329,000 after buying an additional 55,679 shares during the period. 99.73% of the stock is owned by hedge funds and other institutional investors.

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.