Pacira BioSciences (NASDAQ:PCRX) Stock Rating Upgraded by Truist Financial

Pacira BioSciences (NASDAQ:PCRX) was upgraded by Truist Financial from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Thursday, Marketbeat Ratings reports. The brokerage currently has a $25.00 price objective on the stock, up from their previous price objective of $8.00. Truist Financial’s price objective would suggest a potential downside of 5.05% from the stock’s current price.

A number of other analysts have also recently weighed in on PCRX. Needham & Company LLC upped their price target on Pacira BioSciences from $22.00 to $30.00 and gave the company a “buy” rating in a research report on Monday, January 13th. HC Wainwright reiterated a “buy” rating and set a $39.00 target price on shares of Pacira BioSciences in a research report on Wednesday, December 4th. Royal Bank of Canada restated a “sector perform” rating and issued a $18.00 price target on shares of Pacira BioSciences in a research report on Tuesday, January 14th. Finally, Barclays dropped their price objective on shares of Pacira BioSciences from $25.00 to $17.00 and set an “equal weight” rating for the company in a report on Tuesday, November 12th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $26.20.

Pacira BioSciences Stock Up 0.3 %

NASDAQ PCRX opened at $26.33 on Thursday. Pacira BioSciences has a 1-year low of $11.16 and a 1-year high of $34.01. The company has a market capitalization of $1.22 billion, a price-to-earnings ratio of -12.97 and a beta of 0.76. The stock’s 50 day moving average is $20.06 and its two-hundred day moving average is $17.69. The company has a current ratio of 2.25, a quick ratio of 1.89 and a debt-to-equity ratio of 0.51.

Institutional Investors Weigh In On Pacira BioSciences

Hedge funds and other institutional investors have recently made changes to their positions in the company. Pacer Advisors Inc. boosted its holdings in Pacira BioSciences by 129.4% in the third quarter. Pacer Advisors Inc. now owns 4,962,221 shares of the company’s stock valued at $74,681,000 after acquiring an additional 2,799,434 shares during the last quarter. Assenagon Asset Management S.A. boosted its stake in shares of Pacira BioSciences by 314.4% in the 3rd quarter. Assenagon Asset Management S.A. now owns 553,114 shares of the company’s stock valued at $8,324,000 after purchasing an additional 419,656 shares during the last quarter. BNP Paribas Financial Markets boosted its stake in Pacira BioSciences by 269.7% in 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. PDT Partners LLC acquired a new stake in Pacira BioSciences during the 3rd quarter worth $3,469,000. Finally, Empowered Funds LLC bought a new stake in shares of Pacira BioSciences during the 3rd quarter valued at $3,286,000. 99.73% of the stock is owned by institutional investors and hedge funds.

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.