Brokerages Set Pacira BioSciences, Inc. (NASDAQ:PCRX) Price Target at $22.78

Shares of Pacira BioSciences, Inc. (NASDAQ:PCRX) have earned a consensus recommendation of “Hold” from the nine brokerages that are covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, five have given a hold recommendation and three have issued a buy recommendation on the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $22.78.

Several brokerages have commented on PCRX. HC Wainwright reissued a “buy” rating and issued a $39.00 price target on shares of Pacira BioSciences in a research report on Wednesday, December 4th. Royal Bank of Canada reissued a “sector perform” rating and issued a $18.00 price target on shares of Pacira BioSciences in a research report on Tuesday, January 14th. Truist Financial raised shares of Pacira BioSciences from a “sell” rating to a “hold” rating and raised their price target for the company from $8.00 to $25.00 in a research report on Thursday, January 30th. Needham & Company LLC raised their price target on shares of Pacira BioSciences from $22.00 to $30.00 and gave the company a “buy” rating in a research report on Monday, January 13th. Finally, Barclays decreased their price target on shares of Pacira BioSciences from $25.00 to $17.00 and set an “equal weight” rating for the company in a research report on Tuesday, November 12th.

Institutional Investors Weigh In On Pacira BioSciences

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Pacer Advisors Inc. raised its stake in Pacira BioSciences by 129.4% during the 3rd quarter. Pacer Advisors Inc. now owns 4,962,221 shares of the company’s stock worth $74,681,000 after acquiring an additional 2,799,434 shares in the last quarter. BNP Paribas Financial Markets raised its stake in Pacira BioSciences by 269.7% during the 3rd quarter. BNP Paribas Financial Markets now owns 395,695 shares of the company’s stock worth $5,955,000 after acquiring an additional 288,662 shares in the last quarter. Janney Montgomery Scott LLC acquired a new stake in Pacira BioSciences during the 3rd quarter worth $793,000. Empowered Funds LLC acquired a new stake in Pacira BioSciences during the 3rd quarter worth $3,286,000. Finally, Verition Fund Management LLC acquired a new stake in Pacira BioSciences during the 3rd quarter worth $493,000. 99.73% of the stock is currently owned by institutional investors and hedge funds.

Pacira BioSciences Stock Performance

Shares of PCRX stock opened at $25.44 on Thursday. The company has a quick ratio of 1.89, a current ratio of 2.25 and a debt-to-equity ratio of 0.51. Pacira BioSciences has a 52 week low of $11.16 and a 52 week high of $31.67. The stock has a market capitalization of $1.17 billion, a PE ratio of -12.53 and a beta of 0.80. The firm has a 50 day moving average of $22.00 and a two-hundred day moving average of $18.15.

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.