Pacira BioSciences (NASDAQ:PCRX) Shares Gap Up – Time to Buy?

Shares of Pacira BioSciences, Inc. (NASDAQ:PCRX) gapped up before the market opened on Friday . The stock had previously closed at $18.58, but opened at $20.14. Pacira BioSciences shares last traded at $20.63, with a volume of 72,556 shares.

Wall Street Analysts Forecast Growth

PCRX has been the topic of several research analyst reports. Needham & Company LLC reissued a “buy” rating and issued a $22.00 price target on shares of Pacira BioSciences in a report on Friday, November 8th. Barclays dropped their price target 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. Royal Bank of Canada increased their price objective 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. Jefferies Financial Group lifted their target price on Pacira BioSciences from $15.00 to $18.00 and gave the stock a “buy” rating in a report on Tuesday, September 24th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $39.00 price target on shares of Pacira BioSciences in a research report on Wednesday, December 4th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $23.50.

Pacira BioSciences Price Performance

The firm has a market capitalization of $953.01 million, a P/E ratio of -10.17 and a beta of 0.76. The company has a quick ratio of 1.89, a current ratio of 2.25 and a debt-to-equity ratio of 0.51. The business’s 50 day moving average is $18.27 and its 200-day moving average is $17.66.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. CWM LLC increased its position in Pacira BioSciences by 713.6% during the 3rd quarter. CWM LLC now owns 6,517 shares of the company’s stock worth $98,000 after purchasing an additional 5,716 shares in the last quarter. Virtus Investment Advisers Inc. bought a new stake in shares of Pacira BioSciences during the third quarter worth $98,000. Quest Partners LLC acquired a new position in shares of Pacira BioSciences during the second quarter worth $113,000. China Universal Asset Management Co. Ltd. lifted its stake in shares of Pacira BioSciences by 62.3% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 8,872 shares of the company’s stock valued at $134,000 after acquiring an additional 3,404 shares during the last quarter. Finally, Canada Pension Plan Investment Board bought a new stake in Pacira BioSciences during the 2nd quarter worth $140,000. Institutional investors own 99.73% of the company’s stock.

Pacira BioSciences Company Profile

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.