Pacira BioSciences (NASDAQ:PCRX) Stock Price Down 6.4% – Should You Sell?

Pacira BioSciences, Inc. (NASDAQ:PCRX)’s stock price traded down 6.4% during mid-day trading on Tuesday . The company traded as low as $16.29 and last traded at $16.31. 109,590 shares changed hands during mid-day trading, a decline of 87% from the average session volume of 846,311 shares. The stock had previously closed at $17.42.

Wall Street Analysts Forecast Growth

PCRX has been the subject of several recent analyst reports. Jefferies Financial Group lifted their target price on shares of Pacira BioSciences from $15.00 to $18.00 and gave the stock a “buy” rating in a research note on Tuesday, September 24th. Raymond James lowered Pacira BioSciences from an “outperform” rating to a “market perform” rating in a research note on Monday, August 12th. Barclays dropped their price objective on shares of Pacira BioSciences from $25.00 to $17.00 and set an “equal weight” rating for the company in a research note on Tuesday, November 12th. Royal Bank of Canada boosted their target price on shares of Pacira BioSciences from $15.00 to $16.00 and gave the company a “sector perform” rating in a report on Thursday, November 7th. Finally, StockNews.com downgraded shares of Pacira BioSciences from a “strong-buy” rating to a “buy” rating in a research note on Monday, August 12th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $23.50.

Pacira BioSciences Stock Down 5.1 %

The company has a quick ratio of 1.89, a current ratio of 2.25 and a debt-to-equity ratio of 0.51. The stock has a 50 day moving average of $16.28 and a 200 day moving average of $20.14. The firm has a market capitalization of $763.19 million, a price-to-earnings ratio of -8.08 and a beta of 0.82.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Pacer Advisors Inc. raised its stake in Pacira BioSciences by 129.4% during the third quarter. Pacer Advisors Inc. now owns 4,962,221 shares of the company’s stock worth $74,681,000 after acquiring an additional 2,799,434 shares during the period. Fort Washington Investment Advisors Inc. OH acquired a new stake in shares of Pacira BioSciences during the 2nd quarter worth approximately $13,240,000. Assenagon Asset Management S.A. lifted its holdings in shares of Pacira BioSciences by 314.4% in the 3rd quarter. Assenagon Asset Management S.A. now owns 553,114 shares of the company’s stock worth $8,324,000 after purchasing an additional 419,656 shares during the last quarter. Doma Perpetual Capital Management LLC boosted its position in Pacira BioSciences by 71.8% during the 2nd quarter. Doma Perpetual Capital Management LLC now owns 1,000,761 shares of the company’s stock valued at $28,632,000 after purchasing an additional 418,321 shares during the period. Finally, BNP Paribas Financial Markets increased its position in Pacira BioSciences by 269.7% in the third quarter. BNP Paribas Financial Markets now owns 395,695 shares of the company’s stock worth $5,955,000 after buying an additional 288,662 shares during the period. 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.