Pacira BioSciences (NASDAQ:PCRX) Given New $16.00 Price Target at Royal Bank of Canada

Pacira BioSciences (NASDAQ:PCRX) had its target price lifted by Royal Bank of Canada from $15.00 to $16.00 in a research report sent to investors on Thursday,Benzinga reports. Royal Bank of Canada currently has a sector perform rating on the stock.

Several other equities research analysts have also commented on PCRX. Piper Sandler lowered shares of Pacira BioSciences from an “overweight” rating to a “neutral” rating and dropped their price target for the company from $42.00 to $11.00 in a research note 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. Raymond James lowered Pacira BioSciences from an “outperform” rating to a “market perform” rating in a research report on Monday, August 12th. Truist Financial lowered Pacira BioSciences from a “buy” rating to a “sell” rating and lowered their price target for the company from $30.00 to $8.00 in a report on Tuesday, August 13th. Finally, Jefferies Financial Group upped their price objective on shares of Pacira BioSciences from $15.00 to $18.00 and gave the stock a “buy” rating in a report on Tuesday, September 24th. Two analysts have rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, Pacira BioSciences currently has a consensus rating of “Hold” and a consensus target price of $24.30.

Pacira BioSciences Stock Performance

Shares of Pacira BioSciences stock traded down $0.46 during trading on Thursday, hitting $17.24. 756,242 shares of the stock were exchanged, compared to its average volume of 862,430. The company has a debt-to-equity ratio of 0.67, a quick ratio of 5.70 and a current ratio of 6.82. Pacira BioSciences has a 12 month low of $11.16 and a 12 month high of $35.95. The stock’s fifty day moving average is $15.62 and its 200 day moving average is $20.96. The stock has a market cap of $796.02 million, a PE ratio of -8.49 and a beta of 0.82.

Insiders Place Their Bets

In related news, CEO Frank D. Lee acquired 8,264 shares of Pacira BioSciences 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 purchase, the chief executive officer now directly owns 107,784 shares in the company, valued at $1,304,186.40. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Over the last 90 days, insiders have acquired 11,176 shares of company stock worth $136,240. 6.40% of the stock is owned by insiders.

Institutional Investors Weigh In On Pacira BioSciences

A number of large investors have recently made changes to their positions in the company. GAMMA Investing LLC grew its position in Pacira BioSciences by 229.6% during the 2nd quarter. GAMMA Investing LLC now owns 1,338 shares of the company’s stock worth $38,000 after purchasing an additional 932 shares in the last quarter. Park Place Capital Corp acquired a new stake in shares of Pacira BioSciences in the second quarter worth $46,000. Innealta Capital LLC acquired a new position in Pacira BioSciences during the second quarter valued at $50,000. nVerses Capital LLC lifted its stake in Pacira BioSciences by 800.0% in the 2nd quarter. nVerses Capital LLC now owns 1,800 shares of the company’s stock worth $51,000 after acquiring an additional 1,600 shares in the last quarter. Finally, Natixis purchased a new stake in Pacira BioSciences in the 1st quarter worth about $95,000. Institutional investors and hedge funds own 99.73% of the company’s stock.

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.