Pacira BioSciences (NASDAQ:PCRX) Price Target Cut to $42.00

Pacira BioSciences (NASDAQ:PCRX) had its price objective lowered by Piper Sandler from $50.00 to $42.00 in a research report issued to clients and investors on Friday, Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Piper Sandler’s price target indicates a potential upside of 35.31% from the stock’s current price.

Other equities research analysts also recently issued reports about the company. HC Wainwright decreased their target price on Pacira BioSciences from $68.00 to $63.00 and set a “buy” rating on the stock in a research report on Thursday, August 3rd. Barclays dropped their price objective on shares of Pacira BioSciences from $60.00 to $57.00 and set an “overweight” rating for the company in a research report on Monday, October 23rd. Truist Financial dropped their price objective on shares of Pacira BioSciences from $60.00 to $55.00 and set a “buy” rating for the company in a research report on Thursday, August 3rd. StockNews.com began coverage on shares of Pacira BioSciences in a research report on Thursday, October 5th. They issued a “buy” rating for the company. Finally, Needham & Company LLC dropped their price objective on shares of Pacira BioSciences from $52.00 to $45.00 and set a “buy” rating for the company in a research report on Friday. One equities research analyst has rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $52.91.

Pacira BioSciences Stock Up 6.3 %

PCRX stock opened at $31.04 on Friday. Pacira BioSciences has a twelve month low of $26.59 and a twelve month high of $53.32. The company has a market cap of $1.44 billion, a PE ratio of 344.89 and a beta of 0.76. The business’s 50-day simple moving average is $31.47 and its 200 day simple moving average is $36.74. The company has a quick ratio of 3.10, a current ratio of 4.78 and a debt-to-equity ratio of 0.62.

Pacira BioSciences (NASDAQ:PCRX) last released its earnings results on Wednesday, August 2nd. The company reported $0.61 earnings per share for the quarter, topping analysts’ consensus estimates of $0.59 by $0.02. Pacira BioSciences had a return on equity of 10.21% and a net margin of 1.05%. The business had revenue of $169.47 million for the quarter, compared to the consensus estimate of $175.64 million. On average, research analysts anticipate that Pacira BioSciences will post 2.41 earnings per share for the current year.

Institutional Trading of Pacira BioSciences

Institutional investors have recently bought and sold shares of the business. New York Life Investment Management LLC bought a new stake in Pacira BioSciences in the 1st quarter valued at about $473,000. State of New Jersey Common Pension Fund D lifted its holdings in shares of Pacira BioSciences by 15.4% during the 1st quarter. State of New Jersey Common Pension Fund D now owns 54,882 shares of the company’s stock worth $2,240,000 after acquiring an additional 7,306 shares during the period. Federated Hermes Inc. lifted its holdings in shares of Pacira BioSciences by 332,486.7% during the 1st quarter. Federated Hermes Inc. now owns 149,664 shares of the company’s stock worth $6,108,000 after acquiring an additional 149,619 shares during the period. Inspire Investing LLC lifted its holdings in shares of Pacira BioSciences by 9.8% during the 1st quarter. Inspire Investing LLC now owns 6,674 shares of the company’s stock worth $272,000 after acquiring an additional 595 shares during the period. Finally, Gradient Investments LLC lifted its holdings in shares of Pacira BioSciences by 27.8% during the 2nd quarter. Gradient Investments LLC now owns 101,909 shares of the company’s stock worth $4,083,000 after acquiring an additional 22,160 shares during the period. Institutional investors own 99.73% of the company’s stock.

About Pacira BioSciences

Pacira BioSciences, Inc provides non-opioid pain management and regenerative health solutions for healthcare practitioners and their patients 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 only to targeted nerves.