Analysts Set Pacira BioSciences, Inc. (NASDAQ:PCRX) PT at $27.22

Shares of Pacira BioSciences, Inc. (NASDAQ:PCRX) have received an average rating of “Hold” from the nine research firms that are currently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and four have assigned a buy recommendation to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $27.22.

Several analysts recently weighed in on the company. Truist Financial upgraded Pacira BioSciences from a “sell” rating to a “hold” rating and upped their price target for the stock from $8.00 to $25.00 in a research note on Thursday, January 30th. HC Wainwright increased their target price on Pacira BioSciences from $57.00 to $70.00 and gave the stock a “buy” rating in a research note on Friday, February 28th. Needham & Company LLC lifted their price target on Pacira BioSciences from $30.00 to $32.00 and gave the stock a “buy” rating in a research report on Friday, February 28th. Royal Bank of Canada reissued a “sector perform” rating and set a $18.00 price objective on shares of Pacira BioSciences in a research report on Tuesday, January 14th. Finally, Barclays raised their price objective on shares of Pacira BioSciences from $17.00 to $24.00 and gave the company an “overweight” rating in a research note on Friday, February 28th.

Pacira BioSciences Price Performance

Shares of PCRX opened at $22.04 on Monday. The stock has a market cap of $1.02 billion, a PE ratio of -10.86 and a beta of 0.86. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.89 and a current ratio of 2.25. Pacira BioSciences has a fifty-two week low of $11.16 and a fifty-two week high of $31.67. The firm’s 50-day simple moving average is $23.78 and its two-hundred day simple moving average is $19.16.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in 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 valued at $74,681,000 after buying an additional 2,799,434 shares during the last quarter. BNP Paribas Financial Markets increased its position in Pacira BioSciences by 269.7% during the third quarter. BNP Paribas Financial Markets now owns 395,695 shares of the company’s stock valued at $5,955,000 after acquiring an additional 288,662 shares during the last quarter. Janney Montgomery Scott LLC purchased a new stake in Pacira BioSciences during the third quarter valued at $793,000. Empowered Funds LLC bought a new position in Pacira BioSciences in the third quarter valued at about $3,286,000. Finally, Verition Fund Management LLC bought a new stake in shares of Pacira BioSciences during the 3rd quarter valued at about $493,000. 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.