Pacira BioSciences (NASDAQ:PCRX) Shares Gap Down on Analyst Downgrade

Pacira BioSciences, Inc. (NASDAQ:PCRX)’s stock price gapped down prior to trading on Friday after Needham & Company LLC lowered their price target on the stock from $32.00 to $30.00. The stock had previously closed at $24.91, but opened at $24.00. Needham & Company LLC currently has a buy rating on the stock. Pacira BioSciences shares last traded at $23.59, with a volume of 1,979 shares trading hands.

Several other equities research analysts also recently weighed in on PCRX. Truist Financial raised shares of Pacira BioSciences from a “sell” rating to a “hold” rating and increased their target price for the company from $8.00 to $25.00 in a research note on Thursday, January 30th. Barclays raised their price objective on shares of Pacira BioSciences from $17.00 to $24.00 and gave the stock an “overweight” rating in a research note on Friday, February 28th. HC Wainwright upped their target price on Pacira BioSciences from $48.00 to $65.00 and gave the company a “buy” rating in a research note on Tuesday, April 8th. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $18.00 price target on shares of Pacira BioSciences in a research note on Tuesday, January 14th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $26.44.

Institutional Investors Weigh In On Pacira BioSciences

Hedge funds and other institutional investors have recently bought and sold shares of the company. State of Wyoming increased its holdings in Pacira BioSciences by 8.0% in the 4th quarter. State of Wyoming now owns 6,566 shares of the company’s stock worth $124,000 after buying an additional 487 shares during the period. PNC Financial Services Group Inc. boosted its holdings in shares of Pacira BioSciences by 16.6% in the 4th quarter. PNC Financial Services Group Inc. now owns 3,597 shares of the company’s stock valued at $68,000 after acquiring an additional 513 shares during the last quarter. US Bancorp DE boosted its holdings in shares of Pacira BioSciences by 31.0% in the 1st quarter. US Bancorp DE now owns 2,270 shares of the company’s stock valued at $56,000 after acquiring an additional 537 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Pacira BioSciences by 3.1% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 26,077 shares of the company’s stock worth $491,000 after purchasing an additional 794 shares during the last quarter. Finally, China Universal Asset Management Co. Ltd. raised its holdings in shares of Pacira BioSciences by 10.3% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 9,790 shares of the company’s stock worth $184,000 after purchasing an additional 918 shares during the last quarter. Hedge funds and other institutional investors own 99.73% of the company’s stock.

Pacira BioSciences Stock Performance

The firm’s fifty day simple moving average is $24.73 and its 200 day simple moving average is $22.10. The company has a market capitalization of $1.16 billion, a PE ratio of -12.37 and a beta of 0.56. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.25 and a quick ratio of 1.89.

About Pacira BioSciences

Pacira Biosciences, Inc is a holding company, which engages in the provision of non-opioid pain management and regenerative health solutions to improve patients’ journeys along the neural pain pathway. Its products include EXPAREL, iovera, and DepoFoam. The company was founded in December 2006 and is headquartered in Tampa, FL.