Pacira BioSciences (NASDAQ:PCRX) Stock Price Down 6.7% – What’s Next?

Pacira BioSciences, Inc. (NASDAQ:PCRX) dropped 6.7% on Tuesday . The company traded as low as $16.59 and last traded at $16.62. Approximately 295,158 shares were traded during mid-day trading, a decline of 65% from the average daily volume of 840,485 shares. The stock had previously closed at $17.81.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Needham & Company LLC restated a “buy” rating and set a $22.00 price objective on shares of Pacira BioSciences in a research note on Friday, November 8th. StockNews.com lowered Pacira BioSciences from a “strong-buy” rating to a “buy” rating in a research report on Monday, August 12th. Royal Bank of Canada boosted their target price on Pacira BioSciences from $15.00 to $16.00 and gave the stock a “sector perform” rating in a research report on Thursday, November 7th. Truist Financial lowered Pacira BioSciences from a “buy” rating to a “sell” rating and cut their target price for the stock from $30.00 to $8.00 in a research report on Tuesday, August 13th. Finally, HC Wainwright cut their target price on Pacira BioSciences from $57.00 to $39.00 and set a “buy” rating on the stock in a research report on Monday, August 12th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, Pacira BioSciences currently has an average rating of “Hold” and an average price target of $23.50.

Pacira BioSciences Stock Performance

The company has a fifty day simple moving average of $16.53 and a two-hundred day simple moving average of $19.67. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.89 and a current ratio of 2.25.

Institutional Trading of Pacira BioSciences

Several hedge funds and other institutional investors have recently modified their holdings of the company. Pacer Advisors Inc. raised its stake in shares of 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 period. Renaissance Technologies LLC raised its stake in shares of Pacira BioSciences by 9.8% in the 2nd quarter. Renaissance Technologies LLC now owns 2,066,197 shares of the company’s stock valued at $59,114,000 after purchasing an additional 184,000 shares during the period. State Street Corp raised its stake in shares of Pacira BioSciences by 5.8% in the 3rd quarter. State Street Corp now owns 2,014,012 shares of the company’s stock valued at $30,311,000 after purchasing an additional 110,162 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Pacira BioSciences by 12.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,828,065 shares of the company’s stock valued at $52,300,000 after purchasing an additional 198,936 shares during the period. Finally, Doma Perpetual Capital Management LLC increased its position in shares of Pacira BioSciences by 71.8% in the second 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 during the last quarter. Institutional investors and hedge funds own 99.73% of the company’s stock.

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.