Pacira BioSciences (NASDAQ:PCRX) Trading 6.7% Higher

Pacira BioSciences, Inc. (NASDAQ:PCRX) shot up 6.7% during mid-day trading on Tuesday . The company traded as high as $14.42 and last traded at $14.40. 410,287 shares traded hands during trading, a decline of 53% from the average session volume of 882,074 shares. The stock had previously closed at $13.49.

Analyst Upgrades and Downgrades

PCRX has been the subject of a number of recent research reports. Piper Sandler downgraded shares of Pacira BioSciences from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $42.00 to $11.00 in a research note on Monday, August 12th. Royal Bank of Canada lowered Pacira BioSciences from an “outperform” rating to a “sector perform” rating and reduced their price target for the stock from $37.00 to $14.00 in a research report on Monday, August 12th. Raymond James cut Pacira BioSciences from an “outperform” rating to a “market perform” rating in a research note on Monday, August 12th. StockNews.com lowered Pacira BioSciences from a “strong-buy” rating to a “buy” rating in a research note on Monday, August 12th. Finally, JPMorgan Chase & Co. reissued an “underweight” rating and set a $10.00 price target (down from $45.00) on shares of Pacira BioSciences in a research 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 stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $24.78.

Pacira BioSciences Stock Up 6.3 %

The business’s 50 day moving average is $17.01 and its 200 day moving average is $24.37. The company has a debt-to-equity ratio of 0.67, a quick ratio of 5.70 and a current ratio of 6.82. The company has a market capitalization of $667.70 million, a price-to-earnings ratio of 10.07 and a beta of 0.84.

Pacira BioSciences (NASDAQ:PCRX) last issued its quarterly earnings results on Tuesday, July 30th. The company reported $0.64 EPS for the quarter, topping analysts’ consensus estimates 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 return on equity of 13.22% and a net margin of 9.21%. Sell-side analysts anticipate that Pacira BioSciences, Inc. will post 2.24 earnings per share for the current year.

Insider Activity

In related news, CEO Frank D. Lee purchased 8,264 shares of the business’s stock in a transaction on Monday, August 12th. The shares were bought at an average cost of $12.10 per share, with a total value 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 acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Pacira BioSciences news, insider Jonathan Slonin sold 2,836 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the insider now directly owns 95,557 shares of the company’s stock, valued at $2,699,485.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Frank D. Lee acquired 8,264 shares of the company’s stock in a transaction dated Monday, August 12th. The shares were purchased at an average cost of $12.10 per share, for a total transaction of $99,994.40. Following the purchase, the chief executive officer now directly owns 107,784 shares in the company, valued at $1,304,186.40. The disclosure for this purchase can be found here. In the last ninety days, insiders have acquired 11,176 shares of company stock valued at $136,240 and have sold 4,281 shares valued at $105,494. Insiders own 6.40% of the company’s stock.

Institutional Trading of Pacira BioSciences

Hedge funds have recently added to or reduced their stakes in the company. Brown Financial Advisors acquired a new position in shares of Pacira BioSciences in the second quarter worth about $295,000. Truist Financial Corp purchased a new position in shares of Pacira BioSciences in the 2nd quarter valued at about $423,000. The Manufacturers Life Insurance Company raised its holdings in Pacira BioSciences by 6.0% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 23,932 shares of the company’s stock worth $685,000 after purchasing an additional 1,354 shares during the period. Deerfield Management Company L.P. Series C acquired a new position in Pacira BioSciences in the 2nd quarter worth about $488,000. Finally, Doma Perpetual Capital Management LLC boosted its position in Pacira BioSciences by 71.8% during the second quarter. Doma Perpetual Capital Management LLC now owns 1,000,761 shares of the company’s stock worth $28,632,000 after purchasing an additional 418,321 shares in the last quarter. 99.73% of the stock is 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.