Pacira BioSciences (NASDAQ:PCRX) Hits New 1-Year Low at $21.83

Pacira BioSciences, Inc. (NASDAQ:PCRX)’s stock price reached a new 52-week low during mid-day trading on Tuesday . The company traded as low as $21.83 and last traded at $21.87, with a volume of 533514 shares. The stock had previously closed at $28.46.

Analysts Set New Price Targets

PCRX has been the topic of a number of research analyst reports. Needham & Company LLC lowered their target price on Pacira BioSciences from $45.00 to $43.00 and set a “buy” rating on the stock in a report on Wednesday, May 8th. Barclays lowered their target price on Pacira BioSciences from $40.00 to $38.00 and set an “overweight” rating on the stock in a report on Wednesday, May 8th. HC Wainwright reaffirmed a “buy” rating and set a $57.00 target price on shares of Pacira BioSciences in a report on Wednesday, May 8th. Finally, JPMorgan Chase & Co. initiated coverage on Pacira BioSciences in a research note on Thursday, March 7th. They issued an “overweight” rating and a $45.00 price target on the stock. 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 target price of $47.40.

Pacira BioSciences Price Performance

The stock has a market capitalization of $1.02 billion, a price-to-earnings ratio of 16.10 and a beta of 0.88. The company has a current ratio of 5.81, a quick ratio of 4.78 and a debt-to-equity ratio of 0.57. The stock has a 50-day simple moving average of $28.77 and a 200 day simple moving average of $29.84.

Pacira BioSciences (NASDAQ:PCRX) last announced its quarterly earnings data 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 business had revenue of $167.12 million for the quarter, compared to analyst estimates of $165.43 million. On average, equities research analysts forecast that Pacira BioSciences, Inc. will post 2.13 EPS for the current fiscal year.

Insider Activity

In other news, COO Daryl Gaugler sold 1,000 shares of Pacira BioSciences 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 sale, the chief operating officer now directly owns 116,040 shares in the company, valued at approximately $3,293,215.20. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, COO Daryl Gaugler sold 1,000 shares of Pacira BioSciences 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 sale, the chief operating officer now directly owns 116,040 shares in the company, valued at approximately $3,293,215.20. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Jonathan Slonin sold 5,012 shares of Pacira BioSciences stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $28.57, for a total value of $143,192.84. Following the sale, the insider now owns 44,569 shares of the company’s stock, valued at $1,273,336.33. The disclosure for this sale can be found here. Insiders sold a total of 18,314 shares of company stock worth $522,053 in the last three months. 6.40% of the stock is owned by insiders.

Institutional Investors Weigh In On Pacira BioSciences

Several institutional investors have recently made changes to their positions in PCRX. Jane Street Group LLC lifted its holdings in Pacira BioSciences by 1,780.2% in the 1st quarter. Jane Street Group LLC now owns 187,531 shares of the company’s stock worth $5,480,000 after purchasing an additional 177,557 shares during the last quarter. Paloma Partners Management Co acquired a new stake in Pacira BioSciences in the 1st quarter worth approximately $209,000. Archon Capital Management LLC acquired a new stake in Pacira BioSciences in the 1st quarter worth approximately $15,677,000. EntryPoint Capital LLC lifted its holdings in Pacira BioSciences by 46.1% in the 1st quarter. EntryPoint Capital LLC now owns 8,335 shares of the company’s stock worth $244,000 after purchasing an additional 2,629 shares during the last quarter. Finally, Natixis acquired a new stake in Pacira BioSciences in the 1st quarter worth approximately $95,000. 99.73% of the stock is currently owned by institutional investors and hedge funds.

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.