Pacira BioSciences (NASDAQ:PCRX) PT Lowered to $38.00

Pacira BioSciences (NASDAQ:PCRX - Get Free Report) had its price target dropped by analysts at Barclays from $40.00 to $38.00 in a note issued to investors on Wednesday, Benzinga reports. The firm presently has an "overweight" rating on the stock. Barclays's target price would indicate a potential upside of 28.16% from the stock's previous close.

A number of other brokerages have also recently issued reports on PCRX. Needham & Company LLC dropped their price target on shares of Pacira BioSciences from $45.00 to $43.00 and set a "buy" rating on the stock in a research note on Wednesday. JPMorgan Chase & Co. assumed coverage on shares of Pacira BioSciences in a report on Thursday, March 7th. They set an "overweight" rating and a $45.00 price target on the stock. HC Wainwright restated a "buy" rating and issued a $57.00 price objective on shares of Pacira BioSciences in a report on Monday, March 4th. TheStreet upgraded Pacira BioSciences from a "d+" rating to a "c" rating in a research note on Thursday, February 29th. Finally, Wedbush reissued an "outperform" rating and issued a $57.00 target price on shares of Pacira BioSciences in a report on Thursday, February 8th. Eleven research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus price target of $47.40.

Pacira BioSciences Stock Up 11.8 %

Shares of NASDAQ PCRX traded up $3.14 on Wednesday, reaching $29.65. 1,961,053 shares of the company's stock traded hands, compared to its average volume of 507,365. The business's 50 day simple moving average is $28.27 and its two-hundred day simple moving average is $29.51. Pacira BioSciences has a 12 month low of $25.33 and a 12 month high of $43.50. The company has a market cap of $1.38 billion, a price-to-earnings ratio of 36.60 and a beta of 0.77. The company has a quick ratio of 4.17, a current ratio of 5.24 and a debt-to-equity ratio of 0.59.

Pacira BioSciences (NASDAQ:PCRX - Get Free Report) last posted its quarterly earnings data on Thursday, February 29th. The company reported $0.71 earnings per share for the quarter, meeting analysts' consensus estimates of $0.71. Pacira BioSciences had a return on equity of 12.81% and a net margin of 6.22%. The company had revenue of $181.24 million during the quarter, compared to analyst estimates of $180.60 million. As a group, equities research analysts forecast that Pacira BioSciences will post 2.17 EPS for the current fiscal year.

Insider Buying and Selling at Pacira BioSciences

In other news, Director Gary W. Pace sold 90,000 shares of the company's stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $30.60, for a total transaction of $2,754,000.00. Following the completion of the sale, the director now owns 22,127 shares of the company's stock, valued at approximately $677,086.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Gary W. Pace sold 90,000 shares of Pacira BioSciences stock in a transaction on Friday, March 8th. The shares were sold at an average price of $30.60, for a total transaction of $2,754,000.00. Following the transaction, the director now owns 22,127 shares in the company, valued at approximately $677,086.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Gary W. Pace sold 1,066 shares of the company's stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $29.67, for a total value of $31,628.22. Following the completion of the sale, the director now owns 140,384 shares of the company's stock, valued at $4,165,193.28. The disclosure for this sale can be found here. 6.60% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in PCRX. ICA Group Wealth Management LLC purchased a new stake in Pacira BioSciences in the 4th quarter worth approximately $30,000. China Universal Asset Management Co. Ltd. increased its stake in shares of Pacira BioSciences by 96.8% in the third quarter. China Universal Asset Management Co. Ltd. now owns 1,185 shares of the company's stock worth $36,000 after purchasing an additional 583 shares in the last quarter. Nisa Investment Advisors LLC increased its stake in shares of Pacira BioSciences by 310.9% in the third quarter. Nisa Investment Advisors LLC now owns 2,001 shares of the company's stock worth $61,000 after purchasing an additional 1,514 shares in the last quarter. 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 purchasing an additional 885 shares during the period. Finally, Cape Investment Advisory Inc. purchased a new position in shares of Pacira BioSciences during the 4th quarter valued at $97,000. Institutional investors own 99.73% of the company's stock.

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.