Pacira BioSciences (NASDAQ:PCRX) Sees Strong Trading Volume

Pacira BioSciences, Inc. (NASDAQ:PCRX) saw strong trading volume on Monday . 848,478 shares changed hands during mid-day trading, a decline of 3% from the previous session’s volume of 878,547 shares.The stock last traded at $13.57 and had previously closed at $13.11.

Analyst Ratings Changes

A number of brokerages have weighed in on PCRX. Piper Sandler lowered shares of Pacira BioSciences from an “overweight” rating to a “neutral” rating and decreased their target price for the company from $42.00 to $11.00 in a research note on Monday, August 12th. StockNews.com cut Pacira BioSciences from a “strong-buy” rating to a “buy” rating in a research report on Monday, August 12th. Royal Bank of Canada cut Pacira BioSciences from an “outperform” rating to a “sector perform” rating and dropped their target price for the stock from $37.00 to $14.00 in a research report on Monday, August 12th. Needham & Company LLC reduced 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 report on Monday, August 12th. Finally, Raymond James cut shares of Pacira BioSciences from an “outperform” rating to a “market perform” rating in a research note on Monday, August 12th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, Pacira BioSciences currently has an average rating of “Hold” and an average price target of $24.78.

Pacira BioSciences Stock Up 2.2 %

The company has a market capitalization of $618.14 million, a PE ratio of 9.17 and a beta of 0.84. The company’s fifty day moving average is $17.16 and its 200-day moving average is $24.48. The company has a debt-to-equity ratio of 0.67, a quick ratio of 5.70 and a current ratio of 6.82.

Pacira BioSciences (NASDAQ:PCRX) last announced its quarterly earnings data on Tuesday, July 30th. The company reported $0.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.53 by $0.11. Pacira BioSciences had a net margin of 9.21% and a return on equity of 13.22%. The firm had revenue of $178.02 million during the quarter, compared to analysts’ expectations of $173.31 million. As a group, analysts predict that Pacira BioSciences, Inc. will post 2.24 EPS for the current fiscal year.

Insider Buying and Selling at Pacira BioSciences

In related news, insider Jonathan Slonin sold 2,836 shares of the company’s stock in a transaction on Tuesday, July 2nd. The shares were sold at an average price of $28.25, for a total transaction of $80,117.00. Following the completion of the transaction, the insider now owns 95,557 shares in the company, valued at $2,699,485.25. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Pacira BioSciences news, CEO Frank D. Lee acquired 8,264 shares of the company’s stock in a transaction on Monday, August 12th. The stock was acquired at an average cost of $12.10 per share, with a total value of $99,994.40. Following the purchase, the chief executive officer now directly owns 107,784 shares of the company’s stock, valued at approximately $1,304,186.40. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Jonathan Slonin sold 2,836 shares of the business’s stock in a transaction dated Tuesday, July 2nd. The stock was sold at an average price of $28.25, for a total transaction of $80,117.00. Following the completion of the sale, the insider now owns 95,557 shares in the company, valued at $2,699,485.25. The disclosure for this sale can be found here. In the last three months, insiders purchased 11,176 shares of company stock valued at $136,240 and sold 4,281 shares valued at $105,494. Insiders own 6.40% of the company’s stock.

Institutional Investors Weigh In On Pacira BioSciences

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. raised its stake in shares of Pacira BioSciences by 3.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 371,666 shares of the company’s stock valued at $12,540,000 after acquiring an additional 11,696 shares during the period. QRG Capital Management Inc. raised its holdings in shares of Pacira BioSciences by 11.2% in the 4th quarter. QRG Capital Management Inc. now owns 15,987 shares of the company’s stock valued at $539,000 after purchasing an additional 1,610 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Pacira BioSciences by 1.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,411,767 shares of the company’s stock valued at $47,633,000 after purchasing an additional 17,949 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in Pacira BioSciences by 30.0% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 6,632 shares of the company’s stock valued at $213,000 after buying an additional 1,529 shares during the period. Finally, Quadrant Capital Group LLC raised its stake in Pacira BioSciences by 61.5% in the fourth quarter. Quadrant Capital Group LLC now owns 2,324 shares of the company’s stock worth $78,000 after buying an additional 885 shares in the last quarter. 99.73% of the stock is currently 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.