Pacira BioSciences (NASDAQ:PCRX) Price Target Raised to $18.00 at Jefferies Financial Group

Pacira BioSciences (NASDAQ:PCRX) had its price target upped by investment analysts at Jefferies Financial Group from $15.00 to $18.00 in a research note issued on Tuesday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Jefferies Financial Group’s price objective would suggest a potential upside of 22.12% from the stock’s previous close.

Other research analysts also recently issued research reports about the company. Raymond James downgraded Pacira BioSciences from an “outperform” rating to a “market perform” rating in a research note on Monday, August 12th. Truist Financial lowered Pacira BioSciences from a “buy” rating to a “sell” rating and dropped their target price for the company from $30.00 to $8.00 in a research report on Tuesday, August 13th. JPMorgan Chase & Co. reaffirmed an “underweight” rating and set a $10.00 price target (down previously from $45.00) on shares of Pacira BioSciences in a research report on Monday, August 12th. Needham & Company LLC lowered their price objective on shares of Pacira BioSciences from $43.00 to $22.00 and set a “buy” rating on the stock in a report on Monday, August 12th. Finally, HC Wainwright reduced their target price on shares of Pacira BioSciences from $57.00 to $39.00 and set a “buy” rating for the company in a report on Monday, August 12th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, Pacira BioSciences currently has a consensus rating of “Hold” and an average target price of $24.10.

Pacira BioSciences Trading Up 3.2 %

Pacira BioSciences stock traded up $0.46 during mid-day trading on Tuesday, hitting $14.74. The stock had a trading volume of 295,933 shares, compared to its average volume of 902,695. The stock has a market capitalization of $686.09 million, a PE ratio of 10.30 and a beta of 0.84. Pacira BioSciences has a 12 month low of $11.16 and a 12 month high of $35.95. 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 50-day simple moving average of $16.34 and a two-hundred day simple moving average of $23.83.

Pacira BioSciences (NASDAQ:PCRX) last issued its quarterly earnings results on Tuesday, July 30th. The company reported $0.64 EPS for the quarter, topping the consensus estimate of $0.53 by $0.11. The company had revenue of $178.02 million during the quarter, compared to analysts’ expectations of $173.31 million. Pacira BioSciences had a net margin of 9.21% and a return on equity of 13.22%. As a group, sell-side analysts forecast that Pacira BioSciences will post 2.24 EPS for the current year.

Insider Buying and Selling at Pacira BioSciences

In related news, CEO Frank D. Lee purchased 8,264 shares of Pacira BioSciences stock in a transaction that occurred on Monday, August 12th. The shares were acquired 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 approximately $1,304,186.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Pacira BioSciences news, CEO Frank D. Lee bought 8,264 shares of the business’s stock in a transaction on Monday, August 12th. The stock was purchased at an average cost of $12.10 per share, for a total transaction of $99,994.40. Following the completion of the purchase, 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 is available at this link. Also, insider Jonathan Slonin sold 2,836 shares of the company’s stock in a transaction on Tuesday, July 2nd. The stock was sold at an average price of $28.25, for a total value of $80,117.00. Following the sale, the insider now owns 95,557 shares of the company’s stock, valued at $2,699,485.25. The disclosure for this sale can be found here. In the last quarter, insiders acquired 11,176 shares of company stock valued at $136,240 and sold 4,281 shares valued at $105,494. Insiders own 6.40% of the company’s stock.

Institutional Trading of Pacira BioSciences

Hedge funds and other institutional investors have recently made changes to their positions in the company. Jane Street Group LLC increased its position in shares of Pacira BioSciences by 1,780.2% during the first quarter. Jane Street Group LLC now owns 187,531 shares of the company’s stock worth $5,480,000 after buying an additional 177,557 shares during the period. Legato Capital Management LLC grew its stake in shares of Pacira BioSciences by 74.0% in the 2nd quarter. Legato Capital Management LLC now owns 52,913 shares of the company’s stock valued at $1,514,000 after buying an additional 22,497 shares during the period. Cobalt Capital Management Inc. bought a new stake in Pacira BioSciences in the 4th quarter valued at about $3,037,000. Bridge City Capital LLC acquired a new position in Pacira BioSciences during the 1st quarter worth approximately $1,810,000. Finally, WINTON GROUP Ltd bought a new position in shares of Pacira BioSciences in the 2nd quarter worth $2,726,000. 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.