Pacira BioSciences (NASDAQ:PCRX) Downgraded by Barclays

Pacira BioSciences (NASDAQ:PCRX) was downgraded by equities research analysts at Barclays from an “overweight” rating to an “equal weight” rating in a report released on Wednesday, MarketBeat Ratings reports. They presently have a $25.00 target price on the stock, down from their previous target price of $38.00. Barclays‘s price objective would suggest a potential upside of 15.42% from the company’s previous close.

A number of other equities analysts have also recently commented on the company. Needham & Company LLC reaffirmed a “buy” rating and issued a $43.00 target price on shares of Pacira BioSciences in a report on Tuesday. HC Wainwright reaffirmed a “buy” rating and issued a $57.00 target price on shares of Pacira BioSciences in a report on Tuesday. Finally, JPMorgan Chase & Co. assumed coverage on Pacira BioSciences in a report on Thursday, March 7th. They issued an “overweight” rating and a $45.00 target price on the stock. One investment analyst has rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $46.10.

Pacira BioSciences Price Performance

NASDAQ PCRX opened at $21.66 on Wednesday. The business’s fifty day moving average price is $28.53 and its 200-day moving average price is $29.67. The stock has a market capitalization of $1.01 billion, a price-to-earnings ratio of 15.15 and a beta of 0.88. The company has a debt-to-equity ratio of 0.57, a current ratio of 5.81 and a quick ratio of 4.78. Pacira BioSciences has a 1-year low of $20.52 and a 1-year high of $40.16.

Pacira BioSciences (NASDAQ:PCRX) last announced its earnings results on Tuesday, May 7th. The company reported $0.42 EPS for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.04). Pacira BioSciences had a return on equity of 12.98% and a net margin of 10.34%. The company had revenue of $167.12 million during the quarter, compared to the consensus estimate of $165.43 million. On average, equities analysts predict that Pacira BioSciences will post 2.13 earnings per share for the current year.

Insiders Place Their Bets

In other news, COO Daryl Gaugler sold 1,000 shares of the firm’s stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $28.38, for a total transaction of $28,380.00. Following the completion of the transaction, the chief operating officer now owns 116,040 shares in the company, valued at $3,293,215.20. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, insider Jonathan Slonin sold 2,836 shares of the firm’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 in the company, valued at $2,699,485.25. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Daryl Gaugler sold 1,000 shares of the firm’s stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $28.38, for a total value of $28,380.00. Following the transaction, the chief operating officer now owns 116,040 shares of the company’s stock, valued at approximately $3,293,215.20. The disclosure for this sale can be found here. In the last quarter, insiders sold 21,150 shares of company stock worth $602,170. Corporate insiders own 6.40% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in PCRX. abrdn plc lifted its holdings 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 during the last quarter. Gradient Investments LLC lifted its holdings in shares of Pacira BioSciences by 33.0% in the 4th quarter. Gradient Investments LLC now owns 139,949 shares of the company’s stock valued at $4,722,000 after acquiring an additional 34,723 shares during the last quarter. Cobalt Capital Management Inc. bought a new position in shares of Pacira BioSciences in the 4th quarter valued at about $3,037,000. National Bank of Canada FI bought a new position in shares of Pacira BioSciences in the 4th quarter valued at about $966,000. Finally, Bridge City Capital LLC bought a new position in shares of Pacira BioSciences in the 1st quarter valued at about $1,810,000. Hedge funds and other institutional investors 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.