Pacira BioSciences (NASDAQ:PCRX) Receives “Buy” Rating from Needham & Company LLC

Needham & Company LLC reiterated their buy rating on shares of Pacira BioSciences (NASDAQ:PCRX) in a research note released on Friday,Benzinga reports. They currently have a $22.00 price objective on the stock.

Several other research firms have also recently weighed in on PCRX. Raymond James cut Pacira BioSciences from an “outperform” rating to a “market perform” rating in a research report on Monday, August 12th. Truist Financial cut Pacira BioSciences from a “buy” rating to a “sell” rating and cut their price objective for the stock from $30.00 to $8.00 in a research report on Tuesday, August 13th. Piper Sandler cut Pacira BioSciences from an “overweight” rating to a “neutral” rating and cut their price objective for the stock from $42.00 to $11.00 in a research report on Monday, August 12th. StockNews.com cut Pacira BioSciences from a “strong-buy” rating to a “buy” rating in a research report on Monday, August 12th. Finally, JPMorgan Chase & Co. reissued an “underweight” rating and set a $10.00 price objective (down previously from $45.00) on shares of Pacira BioSciences in a research report on Monday, August 12th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $24.30.

Pacira BioSciences Stock Down 2.6 %

Shares of PCRX stock traded down $0.46 on Friday, reaching $17.24. 756,242 shares of the company’s stock traded hands, compared to its average volume of 862,430. Pacira BioSciences has a 12-month low of $11.16 and a 12-month high of $35.95. The company has a debt-to-equity ratio of 0.67, a quick ratio of 5.70 and a current ratio of 6.82. The company has a market capitalization of $795.28 million, a P/E ratio of -8.49 and a beta of 0.82. The business’s 50 day moving average price is $15.62 and its two-hundred day moving average price is $21.00.

Insider Transactions at Pacira BioSciences

In related news, CEO Frank D. Lee bought 8,264 shares of the company’s stock in a transaction dated Monday, August 12th. The stock was acquired at an average cost of $12.10 per share, with a total value of $99,994.40. Following the acquisition, the chief executive officer now owns 107,784 shares in the company, valued at approximately $1,304,186.40. This represents a 0.00 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In the last ninety days, insiders purchased 11,176 shares of company stock valued at $136,240. Corporate insiders own 6.40% of the company’s stock.

Institutional Investors Weigh In On Pacira BioSciences

Large investors have recently bought and sold shares of the business. Texas Permanent School Fund Corp boosted its position in Pacira BioSciences by 1.4% in the 1st quarter. Texas Permanent School Fund Corp now owns 40,642 shares of the company’s stock valued at $1,188,000 after buying an additional 543 shares during the last quarter. Duality Advisers LP boosted its position in Pacira BioSciences by 1.8% in the 1st quarter. Duality Advisers LP now owns 34,784 shares of the company’s stock valued at $1,016,000 after buying an additional 605 shares during the last quarter. Inspire Investing LLC boosted its position in Pacira BioSciences by 5.9% in the 1st quarter. Inspire Investing LLC now owns 12,131 shares of the company’s stock valued at $354,000 after buying an additional 675 shares during the last quarter. ProShare Advisors LLC boosted its position in Pacira BioSciences by 8.0% in the 1st quarter. ProShare Advisors LLC now owns 12,461 shares of the company’s stock valued at $364,000 after buying an additional 924 shares during the last quarter. Finally, GAMMA Investing LLC boosted its position in Pacira BioSciences by 229.6% in the 2nd quarter. GAMMA Investing LLC now owns 1,338 shares of the company’s stock valued at $38,000 after buying an additional 932 shares during the last quarter. 99.73% of the stock is currently owned by 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.