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

Pacira BioSciences (NASDAQ:PCRX) had its price target boosted by Jefferies Financial Group from $15.00 to $18.00 in a research report sent to investors on Tuesday, Benzinga reports. They currently have a buy rating on the stock.

Several other analysts also recently issued reports on PCRX. Truist Financial downgraded shares of Pacira BioSciences from a buy rating to a sell rating and reduced their price target 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 issued 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 decreased their price objective on Pacira BioSciences from $43.00 to $22.00 and set a buy rating for the company in a report on Monday, August 12th. Raymond James cut Pacira BioSciences from an outperform rating to a market perform rating in a research report on Monday, August 12th. Finally, Royal Bank of Canada lowered Pacira BioSciences from an outperform rating to a sector perform rating and lowered their price target for the company from $37.00 to $14.00 in a research report on Monday, August 12th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of Hold and a consensus target price of $24.10.

Pacira BioSciences Trading Up 1.5 %

PCRX opened at $14.54 on Tuesday. The company has a fifty day moving average price of $15.94 and a two-hundred day moving average price of $23.58. Pacira BioSciences has a 1-year low of $11.16 and a 1-year high of $35.95. The company has a market cap of $676.78 million, a P/E ratio of 10.24 and a beta of 0.84. The company has a current ratio of 6.82, a quick ratio of 5.70 and a debt-to-equity ratio of 0.67.

Pacira BioSciences (NASDAQ:PCRX) last issued its earnings results on Tuesday, July 30th. The company reported $0.64 EPS for the quarter, beating analysts’ consensus estimates of $0.53 by $0.11. The business had revenue of $178.02 million during the quarter, compared to analyst estimates of $173.31 million. Pacira BioSciences had a return on equity of 13.22% and a net margin of 9.21%. Analysts predict that Pacira BioSciences will post 2.24 EPS for the current fiscal year.

Insider Activity

In related news, insider Jonathan Slonin sold 2,836 shares of Pacira BioSciences stock in a transaction that occurred on 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 owns 95,557 shares of the company’s stock, valued at approximately $2,699,485.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Jonathan Slonin sold 2,836 shares of Pacira BioSciences stock in a transaction dated Tuesday, July 2nd. The stock was sold at an average price of $28.25, for a total value of $80,117.00. Following the completion of the sale, the insider now owns 95,557 shares of the company’s stock, valued at approximately $2,699,485.25. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Frank D. Lee acquired 8,264 shares of the company’s stock in a transaction on Monday, August 12th. The shares were acquired at an average cost of $12.10 per share, for a total transaction of $99,994.40. Following the completion of the acquisition, the chief executive officer now owns 107,784 shares of the company’s stock, valued at $1,304,186.40. The disclosure for this purchase can be found here. In the last three months, insiders purchased 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 Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Texas Permanent School Fund Corp lifted its position in shares of Pacira BioSciences by 1.4% during the first quarter. Texas Permanent School Fund Corp now owns 40,642 shares of the company’s stock worth $1,188,000 after acquiring an additional 543 shares in the last quarter. Duality Advisers LP lifted its holdings in Pacira BioSciences by 1.8% during the 1st quarter. Duality Advisers LP now owns 34,784 shares of the company’s stock worth $1,016,000 after purchasing an additional 605 shares in the last quarter. Inspire Investing LLC boosted its stake in Pacira BioSciences by 5.9% in the 1st quarter. Inspire Investing LLC now owns 12,131 shares of the company’s stock worth $354,000 after purchasing an additional 675 shares during the period. ICA Group Wealth Management LLC purchased a new position in Pacira BioSciences during the 4th quarter valued at about $30,000. Finally, ProShare Advisors LLC grew its holdings in Pacira BioSciences by 8.0% during the 1st quarter. ProShare Advisors LLC now owns 12,461 shares of the company’s stock valued at $364,000 after buying an additional 924 shares in the last quarter. 99.73% of the stock is currently owned by hedge funds and other 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.