Pacira BioSciences (NASDAQ:PCRX) Shares Down 6.4% – What’s Next?

Pacira BioSciences, Inc. (NASDAQ:PCRX)’s stock price traded down 6.4% during trading on Tuesday . The company traded as low as $16.29 and last traded at $16.31. 109,590 shares changed hands during trading, a decline of 87% from the average session volume of 846,311 shares. The stock had previously closed at $17.42.

Analysts Set New Price Targets

PCRX has been the subject of several analyst reports. Royal Bank of Canada boosted their price objective on shares of Pacira BioSciences from $15.00 to $16.00 and gave the company a “sector perform” rating in a report on Thursday, November 7th. Raymond James cut Pacira BioSciences from an “outperform” rating to a “market perform” rating in a research note on Monday, August 12th. Jefferies Financial Group raised their price objective on Pacira BioSciences from $15.00 to $18.00 and gave the stock a “buy” rating in a research note on Tuesday, September 24th. StockNews.com downgraded Pacira BioSciences from a “strong-buy” rating to a “buy” rating in a research report on Monday, August 12th. Finally, JPMorgan Chase & Co. restated an “underweight” rating and issued a $10.00 price target (down previously from $45.00) on shares of Pacira BioSciences in a research report on Monday, August 12th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $23.50.

Pacira BioSciences Stock Performance

The company has a debt-to-equity ratio of 0.51, a current ratio of 2.25 and a quick ratio of 1.89. The stock has a market cap of $768.27 million, a P/E ratio of -8.20 and a beta of 0.82. The stock has a 50-day simple moving average of $16.37 and a 200-day simple moving average of $20.03.

Institutional Investors Weigh In On Pacira BioSciences

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Pacer Advisors Inc. lifted its stake in Pacira BioSciences by 129.4% in the 3rd quarter. Pacer Advisors Inc. now owns 4,962,221 shares of the company’s stock valued at $74,681,000 after purchasing an additional 2,799,434 shares during the last quarter. Fort Washington Investment Advisors Inc. OH bought a new position in shares of Pacira BioSciences in the 2nd quarter valued at $13,240,000. Assenagon Asset Management S.A. lifted its stake in shares of Pacira BioSciences by 314.4% in the 3rd quarter. Assenagon Asset Management S.A. now owns 553,114 shares of the company’s stock valued at $8,324,000 after acquiring an additional 419,656 shares during the last quarter. Doma Perpetual Capital Management LLC boosted its holdings in shares of Pacira BioSciences by 71.8% during the 2nd quarter. Doma Perpetual Capital Management LLC now owns 1,000,761 shares of the company’s stock valued at $28,632,000 after acquiring an additional 418,321 shares in the last quarter. Finally, BNP Paribas Financial Markets grew its position in Pacira BioSciences by 269.7% during the 3rd quarter. BNP Paribas Financial Markets now owns 395,695 shares of the company’s stock worth $5,955,000 after acquiring an additional 288,662 shares during the last quarter. 99.73% of the stock is owned by 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.