Pacira BioSciences, Inc. (NASDAQ:PCRX) Receives Consensus Recommendation of “Hold” from Analysts

Pacira BioSciences, Inc. (NASDAQ:PCRX) has been assigned an average rating of “Hold” from the ten research firms that are presently covering the company, MarketBeat Ratings reports. Two equities 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 12 month price objective among analysts that have issued a report on the stock in the last year is $23.50.

A number of equities research analysts have recently commented on PCRX shares. Jefferies Financial Group increased their target price on shares of Pacira BioSciences from $15.00 to $18.00 and gave the company a “buy” rating in a research report on Tuesday, September 24th. Piper Sandler cut Pacira BioSciences from an “overweight” rating to a “neutral” rating and lowered their target price for the stock from $42.00 to $11.00 in a report on Monday, August 12th. JPMorgan Chase & Co. reiterated an “underweight” rating and set a $10.00 price objective (down previously from $45.00) on shares of Pacira BioSciences in a research report on Monday, August 12th. Needham & Company LLC restated a “buy” rating and issued a $22.00 target price on shares of Pacira BioSciences in a report on Friday, November 8th. Finally, HC Wainwright reduced their price target on Pacira BioSciences from $57.00 to $39.00 and set a “buy” rating on the stock in a report on Monday, August 12th.

Pacira BioSciences Stock Up 1.6 %

NASDAQ PCRX opened at $16.91 on Friday. The business has a fifty day moving average price of $16.46 and a 200 day moving average price of $19.91. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.89 and a current ratio of 2.25. The company has a market cap of $780.73 million, a P/E ratio of -8.33 and a beta of 0.82. Pacira BioSciences has a one year low of $11.16 and a one year high of $35.95.

Hedge Funds Weigh In On Pacira BioSciences

Several large investors have recently made changes to their positions in PCRX. Jane Street Group LLC raised its holdings in shares of Pacira BioSciences by 1,780.2% in the 1st quarter. Jane Street Group LLC now owns 187,531 shares of the company’s stock valued at $5,480,000 after buying an additional 177,557 shares during the period. Dimensional Fund Advisors LP increased its stake in Pacira BioSciences by 12.2% during the second quarter. Dimensional Fund Advisors LP now owns 1,828,065 shares of the company’s stock worth $52,300,000 after purchasing an additional 198,936 shares during the period. Pacer Advisors Inc. lifted its position in shares of Pacira BioSciences by 129.4% during the third quarter. Pacer Advisors Inc. now owns 4,962,221 shares of the company’s stock worth $74,681,000 after purchasing an additional 2,799,434 shares in the last quarter. Legato Capital Management LLC boosted its stake in shares of Pacira BioSciences by 74.0% in the second quarter. Legato Capital Management LLC now owns 52,913 shares of the company’s stock valued at $1,514,000 after purchasing an additional 22,497 shares during the period. Finally, WINTON GROUP Ltd purchased a new stake in Pacira BioSciences during the 2nd quarter worth approximately $2,726,000. 99.73% of the stock is currently owned by institutional investors and hedge funds.

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.