Pacira BioSciences, Inc. (NASDAQ:PCRX) Receives $23.50 Average Target Price from Analysts

Shares of Pacira BioSciences, Inc. (NASDAQ:PCRX) have earned a consensus rating of “Hold” from the ten analysts that are presently covering the company, MarketBeat.com reports. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $23.50.

Several analysts have issued reports on the company. Needham & Company LLC reissued a “buy” rating and issued a $22.00 price target on shares of Pacira BioSciences in a research note on Friday, November 8th. Jefferies Financial Group lifted their price target on Pacira BioSciences from $15.00 to $18.00 and gave the stock a “buy” rating in a report on Tuesday, September 24th. Royal Bank of Canada raised their price objective on shares of Pacira BioSciences from $15.00 to $16.00 and gave the stock a “sector perform” rating in a research report on Thursday, November 7th. HC Wainwright reaffirmed a “buy” rating and set a $39.00 target price on shares of Pacira BioSciences in a report on Wednesday, December 4th. Finally, Barclays dropped their price objective on Pacira BioSciences from $25.00 to $17.00 and set an “equal weight” rating for the company in a report on Tuesday, November 12th.

Pacira BioSciences Stock Performance

PCRX stock opened at $19.65 on Wednesday. The firm has a market cap of $907.30 million, a PE ratio of -9.68 and a beta of 0.80. The company has a current ratio of 2.25, a quick ratio of 1.89 and a debt-to-equity ratio of 0.51. The business’s 50-day moving average price is $17.91 and its two-hundred day moving average price is $18.40. Pacira BioSciences has a 1-year low of $11.16 and a 1-year high of $35.95.

Institutional Trading of Pacira BioSciences

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Virtus Investment Advisers Inc. acquired a new stake in shares of Pacira BioSciences in the 3rd quarter valued at about $98,000. State Street Corp boosted 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 worth $30,311,000 after buying an additional 110,162 shares during the last quarter. Centiva Capital LP bought a new position in shares of Pacira BioSciences in the third quarter valued at approximately $398,000. PDT Partners LLC purchased a new stake in shares of Pacira BioSciences during the third quarter valued at approximately $3,469,000. Finally, Verition Fund Management LLC purchased a new position in Pacira BioSciences in the third quarter worth $493,000. Institutional investors and hedge funds own 99.73% of the company’s stock.

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.