Truist Financial Cuts Pacira BioSciences (NASDAQ:PCRX) Price Target to $28.00

Pacira BioSciences (NASDAQ:PCRX) had its target price dropped by Truist Financial from $30.00 to $28.00 in a research note issued on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Truist Financial’s price objective points to a potential upside of 28.27% from the stock’s current price.

Several other brokerages have also recently issued reports on PCRX. Zacks Research upgraded Pacira BioSciences from a “strong sell” rating to a “hold” rating in a research report on Thursday, August 14th. Weiss Ratings restated a “sell (d)” rating on shares of Pacira BioSciences in a research note on Wednesday, October 8th. Four equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $33.00.

Pacira BioSciences Trading Up 3.5%

NASDAQ:PCRX traded up $0.73 during trading hours on Friday, reaching $21.83. 956,179 shares of the stock were exchanged, compared to its average volume of 752,936. Pacira BioSciences has a twelve month low of $16.00 and a twelve month high of $27.64. The business has a 50-day moving average of $24.34 and a two-hundred day moving average of $24.48. The company has a market capitalization of $980.84 million, a price-to-earnings ratio of -7.85 and a beta of 0.36. The company has a quick ratio of 1.91, a current ratio of 2.38 and a debt-to-equity ratio of 0.50.

Pacira BioSciences (NASDAQ:PCRX) last issued its earnings results on Tuesday, August 5th. The company reported $0.74 earnings per share for the quarter, topping the consensus estimate of $0.73 by $0.01. The business had revenue of $181.10 million for the quarter, compared to analyst estimates of $183.11 million. Pacira BioSciences had a positive return on equity of 13.29% and a negative net margin of 18.08%.The business’s quarterly revenue was up 1.7% on a year-over-year basis. During the same quarter last year, the company earned $0.96 EPS. On average, equities analysts predict that Pacira BioSciences will post 2.41 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Hantz Financial Services Inc. raised its position in shares of Pacira BioSciences by 175.4% in the 3rd quarter. Hantz Financial Services Inc. now owns 1,132 shares of the company’s stock worth $29,000 after buying an additional 721 shares during the period. Caitong International Asset Management Co. Ltd purchased a new position in shares of Pacira BioSciences in the 1st quarter worth about $51,000. Tidemark LLC acquired a new position in shares of Pacira BioSciences in the 3rd quarter valued at about $56,000. Brooklyn Investment Group lifted its stake in shares of Pacira BioSciences by 372.2% in the 1st quarter. Brooklyn Investment Group now owns 2,238 shares of the company’s stock valued at $56,000 after purchasing an additional 1,764 shares in the last quarter. Finally, US Bancorp DE grew its holdings in shares of Pacira BioSciences by 31.0% during the 1st quarter. US Bancorp DE now owns 2,270 shares of the company’s stock worth $56,000 after purchasing an additional 537 shares during the period. 99.73% of the stock is currently owned by institutional investors and hedge funds.

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.