Barclays Cuts Pacira BioSciences (NASDAQ:PCRX) Price Target to $25.00

Pacira BioSciences (NASDAQ:PCRX) had its price target reduced by Barclays from $27.00 to $25.00 in a research report released on Thursday,Benzinga reports. Barclays currently has an equal weight rating on the stock.

PCRX has been the subject of a number of other reports. Needham & Company LLC reaffirmed a “buy” rating and issued a $30.00 price objective on shares of Pacira BioSciences in a research report on Friday, January 9th. HC Wainwright reissued a “buy” rating and set a $38.00 target price on shares of Pacira BioSciences in a research report on Friday, January 9th. Weiss Ratings restated a “sell (d+)” rating on shares of Pacira BioSciences in a research note on Monday, December 29th. Zacks Research lowered Pacira BioSciences from a “hold” rating to a “strong sell” rating in a report on Monday, March 9th. Finally, Wall Street Zen downgraded Pacira BioSciences from a “strong-buy” rating to a “buy” rating in a research report on Saturday, February 28th. Three analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $30.25.

Pacira BioSciences Stock Performance

Shares of PCRX opened at $22.88 on Thursday. The company has a current ratio of 4.54, a quick ratio of 3.28 and a debt-to-equity ratio of 0.54. The stock has a market capitalization of $926.41 million, a price-to-earnings ratio of 152.53 and a beta of 0.21. The firm has a fifty day simple moving average of $21.88 and a 200 day simple moving average of $23.37. Pacira BioSciences has a 12 month low of $18.80 and a 12 month high of $27.64.

Pacira BioSciences (NASDAQ:PCRX) last posted its earnings results on Thursday, February 26th. The company reported $0.57 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.85 by ($0.28). The firm had revenue of $196.87 million during the quarter, compared to the consensus estimate of $201.93 million. Pacira BioSciences had a return on equity of 10.39% and a net margin of 0.97%.The business’s revenue was up 5.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.91 EPS. Research analysts forecast that Pacira BioSciences will post 2.41 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider Jonathan Slonin sold 3,261 shares of the business’s stock in a transaction dated Tuesday, March 17th. The stock was sold at an average price of $22.82, for a total value of $74,416.02. Following the sale, the insider directly owned 223,640 shares in the company, valued at approximately $5,103,464.80. The trade was a 1.44% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Lauren Riker sold 4,000 shares of the company’s stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $20.81, for a total transaction of $83,240.00. Following the sale, the senior vice president directly owned 52,313 shares in the company, valued at approximately $1,088,633.53. This trade represents a 7.10% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 8,677 shares of company stock worth $191,980 in the last ninety days. Insiders own 6.40% of the company’s stock.

Institutional Trading of Pacira BioSciences

Several hedge funds and other institutional investors have recently modified their holdings of PCRX. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Pacira BioSciences by 4.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 27,242 shares of the company’s stock valued at $677,000 after buying an additional 1,165 shares in the last quarter. Goldman Sachs Group Inc. boosted its holdings in shares of Pacira BioSciences by 49.9% in the first quarter. Goldman Sachs Group Inc. now owns 1,104,796 shares of the company’s stock worth $27,454,000 after acquiring an additional 367,869 shares during the period. Strs Ohio purchased a new position in shares of Pacira BioSciences in the first quarter valued at $75,000. PNC Financial Services Group Inc. raised its stake in shares of Pacira BioSciences by 17.8% during the 2nd quarter. PNC Financial Services Group Inc. now owns 3,511 shares of the company’s stock valued at $84,000 after purchasing an additional 531 shares during the period. Finally, Geode Capital Management LLC raised its stake in shares of Pacira BioSciences by 0.5% during the 2nd quarter. Geode Capital Management LLC now owns 1,143,190 shares of the company’s stock valued at $27,326,000 after purchasing an additional 5,658 shares during the period. Institutional investors own 99.73% of the company’s stock.

Pacira BioSciences Company Profile

Pacira BioSciences, Inc is a specialty pharmaceutical company focused on developing and commercializing non-opioid, non-addictive pain management and regenerative health solutions. The company’s flagship product, EXPAREL, is a bupivacaine liposome injectable suspension designed to provide long-lasting postsurgical analgesia. EXPAREL is used by clinicians across a broad range of surgical procedures to reduce reliance on opioid medications and to help manage acute postoperative pain.

In addition to its marketed offering, Pacira maintains an active pipeline of investigational products aimed at addressing unmet needs in pain management and inflammation control.