Shares of Pacira BioSciences, Inc. (NASDAQ:PCRX – Get Free Report) gapped down prior to trading on Tuesday after Truist Financial downgraded the stock from a buy rating to a sell rating. The stock had previously closed at $12.29, but opened at $11.55. Truist Financial now has a $8.00 price target on the stock, down from their previous price target of $30.00. Pacira BioSciences shares last traded at $12.00, with a volume of 504,312 shares traded.
A number of other research firms have also recently issued reports on PCRX. HC Wainwright cut their price objective on Pacira BioSciences from $57.00 to $39.00 and set a “buy” rating for the company in a report on Monday. Raymond James lowered Pacira BioSciences from an “outperform” rating to a “market perform” rating in a research note on Monday. StockNews.com lowered shares of Pacira BioSciences from a “strong-buy” rating to a “buy” rating in a report on Monday. Piper Sandler cut shares of Pacira BioSciences from an “overweight” rating to a “neutral” rating and cut their price objective for the company from $42.00 to $11.00 in a research note on Monday. Finally, Needham & Company LLC lowered their price target on shares of Pacira BioSciences from $43.00 to $22.00 and set a “buy” rating for the company in a research note on Monday. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the company. According to MarketBeat, Pacira BioSciences presently has a consensus rating of “Hold” and a consensus price target of $24.78.
Insider Buying and Selling at Pacira BioSciences
In related news, insider Kristen Williams sold 7,452 shares of Pacira BioSciences stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $28.38, for a total transaction of $211,487.76. Following the sale, the insider now directly owns 102,912 shares in the company, valued at $2,920,642.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Pacira BioSciences news, COO Daryl Gaugler sold 1,000 shares of Pacira BioSciences stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $28.38, for a total transaction of $28,380.00. Following the completion of the transaction, the chief operating officer now owns 116,040 shares in the company, valued at $3,293,215.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Kristen Williams sold 7,452 shares of the stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $28.38, for a total value of $211,487.76. Following the completion of the sale, the insider now directly owns 102,912 shares in the company, valued at $2,920,642.56. The disclosure for this sale can be found here. In the last three months, insiders have sold 22,095 shares of company stock valued at $621,118. 6.40% of the stock is currently owned by corporate insiders.
Institutional Trading of Pacira BioSciences
A number of institutional investors and hedge funds have recently bought and sold shares of PCRX. Texas Permanent School Fund Corp raised its holdings in Pacira BioSciences by 1.4% in the 1st 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 during the last quarter. Illinois Municipal Retirement Fund lifted its holdings in shares of Pacira BioSciences by 2.2% during the fourth quarter. Illinois Municipal Retirement Fund now owns 26,964 shares of the company’s stock valued at $910,000 after purchasing an additional 591 shares in the last quarter. Duality Advisers LP increased its holdings in Pacira BioSciences by 1.8% in the 1st quarter. Duality Advisers LP now owns 34,784 shares of the company’s stock worth $1,016,000 after buying an additional 605 shares in the last quarter. Inspire Investing LLC raised its position 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 buying an additional 675 shares during the last quarter. Finally, Quadrant Capital Group LLC boosted its holdings 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 acquiring an additional 885 shares during the last quarter. 99.73% of the stock is currently owned by institutional investors.
Pacira BioSciences Price Performance
The stock has a market capitalization of $566.93 million, a P/E ratio of 8.59 and a beta of 0.88. The business’s 50 day moving average price is $23.62 and its 200 day moving average price is $27.22. The company has a debt-to-equity ratio of 0.67, a current ratio of 6.82 and a quick ratio of 5.70.
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.