Pacira BioSciences (NASDAQ:PCRX) Price Target Cut to $39.00 by Analysts at HC Wainwright

Pacira BioSciences (NASDAQ:PCRX) had its price target cut by HC Wainwright from $57.00 to $39.00 in a research note published on Monday morning, Benzinga reports. They currently have a buy rating on the stock.

Other analysts have also recently issued reports about the stock. Piper Sandler restated an overweight rating and set a $42.00 target price on shares of Pacira BioSciences in a report on Wednesday, July 3rd. Raymond James reduced their price target on shares of Pacira BioSciences from $41.00 to $37.00 and set an outperform rating for the company in a research report on Wednesday, July 31st. StockNews.com raised Pacira BioSciences from a buy rating to a strong-buy rating in a research note on Thursday, August 1st. Royal Bank of Canada reduced their price target on shares of Pacira BioSciences from $42.00 to $37.00 and set an outperform rating for the company in a research report on Wednesday, July 31st. Finally, Needham & Company LLC reaffirmed a buy rating and set a $43.00 price objective on shares of Pacira BioSciences in a research report on Wednesday, July 31st. Two research 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 data from MarketBeat, the company has a consensus rating of Hold and a consensus target price of $24.78.

Pacira BioSciences Price Performance

Shares of Pacira BioSciences stock opened at $13.35 on Monday. Pacira BioSciences has a 52 week low of $11.16 and a 52 week high of $38.23. The company has a current ratio of 6.82, a quick ratio of 5.70 and a debt-to-equity ratio of 0.67. The stock has a market cap of $615.84 million, a PE ratio of 9.34 and a beta of 0.88. The company’s 50-day moving average price is $22.59 and its two-hundred day moving average price is $26.88.

Insider Buying and Selling at Pacira BioSciences

In other Pacira BioSciences news, CEO Frank D. Lee purchased 8,264 shares of the company’s stock in a transaction dated Monday, August 12th. The shares were bought at an average price of $12.10 per share, for a total transaction of $99,994.40. Following the purchase, the chief executive officer now directly owns 107,784 shares in the company, valued at approximately $1,304,186.40. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CEO Frank D. Lee purchased 8,264 shares of Pacira BioSciences stock in a transaction on Monday, August 12th. The stock was bought at an average price of $12.10 per share, with a total value of $99,994.40. Following the completion of the transaction, the chief executive officer now directly owns 107,784 shares of the company’s stock, valued at $1,304,186.40. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Jonathan Slonin sold 2,836 shares of the stock in a transaction dated Tuesday, July 2nd. The shares were sold at an average price of $28.25, for a total value of $80,117.00. Following the transaction, the insider now directly owns 95,557 shares in the company, valued at approximately $2,699,485.25. The disclosure for this sale can be found here. Insiders sold 22,095 shares of company stock worth $621,118 over the last ninety days. 6.40% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Pacira BioSciences

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. ICA Group Wealth Management LLC acquired a new stake in shares of Pacira BioSciences in the fourth quarter worth $30,000. GAMMA Investing LLC raised its holdings in Pacira BioSciences by 229.6% in the 2nd quarter. GAMMA Investing LLC now owns 1,338 shares of the company’s stock worth $38,000 after acquiring an additional 932 shares during the period. Park Place Capital Corp bought a new position in Pacira BioSciences in the 2nd quarter worth $46,000. Innealta Capital LLC acquired a new position in Pacira BioSciences during the 2nd quarter worth $50,000. Finally, nVerses Capital LLC boosted its holdings in Pacira BioSciences by 800.0% during the second quarter. nVerses Capital LLC now owns 1,800 shares of the company’s stock valued at $51,000 after acquiring an additional 1,600 shares during the period. Institutional investors and hedge funds 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.