Pacira BioSciences (NASDAQ:PCRX) Shares Gap Up – Here’s What Happened

Pacira BioSciences, Inc. (NASDAQ:PCRX) shares 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 trading hands.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Jefferies Financial Group increased their price objective on shares of Pacira BioSciences from $15.00 to $18.00 and gave the stock a “buy” rating in a report on Tuesday, September 24th. Needham & Company LLC restated a “buy” rating and issued a $22.00 price target on shares of Pacira BioSciences in a research note on Friday, November 8th. HC Wainwright reiterated a “buy” rating and set a $39.00 price objective on shares of Pacira BioSciences in a research report on Wednesday, December 4th. Barclays lowered their target price on Pacira BioSciences from $25.00 to $17.00 and set an “equal weight” rating on the stock in a research report on Tuesday, November 12th. Finally, Royal Bank of Canada boosted their price target 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. Two research 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. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $23.50.

Pacira BioSciences Trading Up 19.3 %

The company has a market cap of $1.02 billion, a price-to-earnings ratio of -10.92 and a beta of 0.76. 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’s 50 day moving average price is $18.19 and its 200 day moving average price is $17.80.

Institutional Inflows and Outflows

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

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.