Barclays Cuts Pacira BioSciences (NASDAQ:PCRX) Price Target to $17.00

Pacira BioSciences (NASDAQ:PCRX) had its price objective reduced by Barclays from $25.00 to $17.00 in a report released on Tuesday morning,Benzinga reports. They currently have an equal weight rating on the stock.

Several other equities analysts also recently weighed in on the stock. Piper Sandler downgraded shares of Pacira BioSciences from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $42.00 to $11.00 in a research note on Monday, August 12th. HC Wainwright decreased their target price on shares of Pacira BioSciences from $57.00 to $39.00 and set a “buy” rating on the stock in a research note on Monday, August 12th. Raymond James lowered Pacira BioSciences from an “outperform” rating to a “market perform” rating in a research report on Monday, August 12th. Jefferies Financial Group lifted their price objective on Pacira BioSciences from $15.00 to $18.00 and gave the stock a “buy” rating in a research report on Tuesday, September 24th. Finally, Royal Bank of Canada boosted their price objective on Pacira BioSciences from $15.00 to $16.00 and gave the stock a “sector perform” rating in a research note on Thursday, November 7th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $23.50.

Pacira BioSciences Stock Performance

Shares of PCRX traded down $0.01 during trading hours on Tuesday, hitting $16.36. The stock had a trading volume of 68,139 shares, compared to its average volume of 853,912. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.89 and a current ratio of 2.25. The firm has a 50-day moving average price of $15.72 and a 200 day moving average price of $20.78. Pacira BioSciences has a fifty-two week low of $11.16 and a fifty-two week high of $35.95.

Hedge Funds Weigh In On Pacira BioSciences

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PCRX. GAMMA Investing LLC lifted its position in shares of Pacira BioSciences by 229.6% during the second quarter. GAMMA Investing LLC now owns 1,338 shares of the company’s stock worth $38,000 after purchasing an additional 932 shares during the last quarter. Park Place Capital Corp acquired a new stake in Pacira BioSciences during the second quarter valued at approximately $46,000. Innealta Capital LLC bought a new position in Pacira BioSciences during the 2nd quarter worth approximately $50,000. nVerses Capital LLC grew its position in shares of Pacira BioSciences by 800.0% in the 2nd quarter. nVerses Capital LLC now owns 1,800 shares of the company’s stock worth $51,000 after acquiring an additional 1,600 shares in the last quarter. Finally, Natixis bought a new stake in shares of Pacira BioSciences in the 1st quarter valued at approximately $95,000. 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.