Pacira BioSciences (NASDAQ:PCRX) Sees Strong Trading Volume

Pacira BioSciences, Inc. (NASDAQ:PCRX) saw an uptick in trading volume on Monday . 848,478 shares changed hands during trading, a decline of 3% from the previous session’s volume of 878,547 shares.The stock last traded at $13.57 and had previously closed at $13.11.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on PCRX. Piper Sandler lowered Pacira BioSciences from an “overweight” rating to a “neutral” rating and dropped their target price for the stock from $42.00 to $11.00 in a research report on Monday, August 12th. StockNews.com lowered Pacira BioSciences from a “strong-buy” rating to a “buy” rating in a research report on Monday, August 12th. Truist Financial lowered Pacira BioSciences from a “buy” rating to a “sell” rating and dropped their target price for the stock from $30.00 to $8.00 in a research report on Tuesday, August 13th. Needham & Company LLC dropped their target price on Pacira BioSciences from $43.00 to $22.00 and set a “buy” rating on the stock in a research report on Monday, August 12th. Finally, Raymond James lowered Pacira BioSciences from an “outperform” rating to a “market perform” rating 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 four have assigned a buy rating to the company. Based on data from MarketBeat, Pacira BioSciences currently has an average rating of “Hold” and a consensus target price of $24.78.

Pacira BioSciences Price Performance

The company has a debt-to-equity ratio of 0.67, a current ratio of 6.82 and a quick ratio of 5.70. The company has a fifty day moving average price of $16.88 and a 200 day moving average price of $24.26. The company has a market capitalization of $681.90 million, a P/E ratio of 10.03 and a beta of 0.84.

Pacira BioSciences (NASDAQ:PCRX) last issued its quarterly earnings data on Tuesday, July 30th. The company reported $0.64 earnings per share for the quarter, beating the consensus estimate of $0.53 by $0.11. The firm had revenue of $178.02 million for the quarter, compared to the consensus estimate of $173.31 million. Pacira BioSciences had a net margin of 9.21% and a return on equity of 13.22%. On average, sell-side analysts forecast that Pacira BioSciences, Inc. will post 2.24 EPS for the current fiscal year.

Insider Activity at Pacira BioSciences

In related news, insider Jonathan Slonin sold 2,836 shares of Pacira BioSciences stock in a transaction dated Tuesday, July 2nd. The shares were sold at an average price of $28.25, for a total value of $80,117.00. Following the sale, the insider now directly owns 95,557 shares in the company, valued at approximately $2,699,485.25. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, CEO Frank D. Lee purchased 8,264 shares of the company’s stock in a transaction on Monday, August 12th. The shares were bought at an average cost of $12.10 per share, for a total transaction of $99,994.40. Following the transaction, the chief executive officer now owns 107,784 shares of the company’s stock, valued at $1,304,186.40. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jonathan Slonin sold 2,836 shares of the business’s stock in a transaction dated Tuesday, July 2nd. The stock was sold at an average price of $28.25, for a total transaction of $80,117.00. Following the sale, the insider now owns 95,557 shares in the company, valued at $2,699,485.25. The disclosure for this sale can be found here. In the last ninety days, insiders have bought 11,176 shares of company stock worth $136,240 and have sold 4,281 shares worth $105,494. 6.40% of the stock is currently owned by insiders.

Institutional Trading of Pacira BioSciences

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