Pacira BioSciences (NASDAQ:PCRX) Downgraded to “Equal Weight” at Barclays

Barclays lowered shares of Pacira BioSciences (NASDAQ:PCRX) from an overweight rating to an equal weight rating in a research note released on Wednesday morning, Marketbeat reports. They currently have $25.00 target price on the stock, down from their prior target price of $38.00.

Other equities analysts have also recently issued research reports about the stock. HC Wainwright reiterated a buy rating and issued a $57.00 price objective on shares of Pacira BioSciences in a research note on Tuesday. Needham & Company LLC reiterated a buy rating and issued a $43.00 price target on shares of Pacira BioSciences in a research report on Tuesday. Finally, JPMorgan Chase & Co. began coverage on shares of Pacira BioSciences in a research report on Thursday, March 7th. They set an overweight rating and a $45.00 price objective for the company. One analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of Moderate Buy and a consensus target price of $46.10.

Pacira BioSciences Trading Down 4.7 %

Shares of PCRX stock opened at $21.66 on Wednesday. The company has a current ratio of 5.81, a quick ratio of 4.78 and a debt-to-equity ratio of 0.57. Pacira BioSciences has a 12-month low of $20.52 and a 12-month high of $40.16. The stock has a market capitalization of $1.01 billion, a P/E ratio of 15.15 and a beta of 0.88. The firm’s 50 day moving average is $28.60 and its 200 day moving average is $29.73.

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

Insider Activity at Pacira BioSciences

In other Pacira BioSciences news, SVP Lauren Riker sold 3,970 shares of the company’s stock in a transaction that occurred on Wednesday, June 12th. The stock was sold at an average price of $28.72, for a total value of $114,018.40. Following the completion of the transaction, the senior vice president now directly owns 38,075 shares in the company, valued at approximately $1,093,514. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Pacira BioSciences news, SVP Lauren Riker sold 3,970 shares of the business’s stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $28.72, for a total value of $114,018.40. Following the sale, the senior vice president now owns 38,075 shares in the company, valued at approximately $1,093,514. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Jonathan Slonin sold 5,012 shares of the firm’s 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 transaction, the insider now owns 44,569 shares of the company’s stock, valued at approximately $1,273,336.33. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 21,150 shares of company stock valued at $602,170. 6.40% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of PCRX. ICA Group Wealth Management LLC bought a new stake in Pacira BioSciences in the fourth quarter worth $30,000. GAMMA Investing LLC grew its stake in shares of 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 buying an additional 932 shares in the last quarter. Park Place Capital Corp bought a new stake in shares of Pacira BioSciences in the 2nd quarter worth about $46,000. Quadrant Capital Group LLC raised its position in shares of Pacira BioSciences by 61.5% during the 4th quarter. Quadrant Capital Group LLC now owns 2,324 shares of the company’s stock valued at $78,000 after buying an additional 885 shares in the last quarter. Finally, Natixis bought a new position in shares of Pacira BioSciences in the 1st quarter valued at about $95,000. 99.73% of the stock is currently owned by institutional investors.

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.