Pacira BioSciences (NASDAQ:PCRX) Cut to Neutral at Piper Sandler

Piper Sandler downgraded shares of Pacira BioSciences (NASDAQ:PCRX) from an overweight rating to a neutral rating in a research note published on Monday, Marketbeat reports. The brokerage currently has $11.00 price objective on the stock, down from their prior price objective of $42.00.

Several other research firms also recently commented on PCRX. StockNews.com raised shares of Pacira BioSciences from a buy rating to a strong-buy rating in a report on Thursday, August 1st. Truist Financial cut their price objective on shares of Pacira BioSciences from $45.00 to $30.00 and set a buy rating for the company in a report on Thursday, July 25th. Needham & Company LLC lowered their target price on shares of Pacira BioSciences from $43.00 to $22.00 and set a buy rating on the stock in a report on Monday. Raymond James lowered Pacira BioSciences from an outperform rating to a market perform rating in a report on Monday. Finally, Barclays lowered Pacira BioSciences from an overweight rating to an equal weight rating and decreased their price objective for the company from $38.00 to $25.00 in a research note on Wednesday, July 3rd. Two 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, the stock has an average rating of Hold and a consensus price target of $24.78.

Pacira BioSciences Stock Performance

Shares of PCRX opened at $12.47 on Monday. Pacira BioSciences has a 1 year low of $11.16 and a 1 year high of $38.23. The company has a debt-to-equity ratio of 0.67, a current ratio of 6.82 and a quick ratio of 5.70. The stock’s fifty day moving average price is $22.91 and its two-hundred day moving average price is $26.98. The firm has a market cap of $575.24 million, a PE ratio of 8.72 and a beta of 0.88.

Insider Buying and Selling at Pacira BioSciences

In other news, SVP Lauren Riker sold 3,970 shares of the business’s stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $28.72, for a total transaction of $114,018.40. Following the completion of the transaction, the senior vice president now owns 38,075 shares of the company’s stock, valued at $1,093,514. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Pacira BioSciences news, COO Daryl Gaugler sold 1,000 shares of the firm’s stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $28.38, for a total transaction of $28,380.00. Following the sale, the chief operating officer now owns 116,040 shares in the company, valued at $3,293,215.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Lauren Riker sold 3,970 shares of Pacira BioSciences stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $28.72, for a total value of $114,018.40. Following the sale, the senior vice president now directly owns 38,075 shares of the company’s stock, valued at approximately $1,093,514. The disclosure for this sale can be found here. Insiders have sold a total of 22,095 shares of company stock valued at $621,118 in the last 90 days. Corporate insiders own 6.40% of the company’s stock.

Hedge Funds Weigh In On Pacira BioSciences

A number of large investors have recently modified their holdings of the company. Squarepoint Ops LLC grew its position in Pacira BioSciences by 31.3% during the second quarter. Squarepoint Ops LLC now owns 28,508 shares of the company’s stock valued at $816,000 after acquiring an additional 6,794 shares during the last quarter. Marshall Wace LLP boosted its stake in shares of Pacira BioSciences by 19.7% in the 2nd quarter. Marshall Wace LLP now owns 971,143 shares of the company’s stock valued at $27,784,000 after purchasing an additional 159,791 shares in the last quarter. Public Sector Pension Investment Board raised its position in Pacira BioSciences by 7.6% in the 2nd quarter. Public Sector Pension Investment Board now owns 102,429 shares of the company’s stock worth $2,930,000 after purchasing an additional 7,243 shares during the period. Profund Advisors LLC raised its position in Pacira BioSciences by 26.2% in the 2nd quarter. Profund Advisors LLC now owns 10,551 shares of the company’s stock worth $302,000 after purchasing an additional 2,190 shares during the period. Finally, Pacer Advisors Inc. lifted its stake in Pacira BioSciences by 37.5% in the second quarter. Pacer Advisors Inc. now owns 2,162,787 shares of the company’s stock worth $61,877,000 after purchasing an additional 590,082 shares during the last quarter. 99.73% of the stock is owned by hedge funds and other institutional investors.

About Pacira BioSciences

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.