Pacira BioSciences (NASDAQ:PCRX) Shares Gap Up Following Analyst Upgrade

Pacira BioSciences, Inc. (NASDAQ:PCRX) gapped up before the market opened on Friday after HC Wainwright raised their price target on the stock from $57.00 to $70.00. The stock had previously closed at $25.38, but opened at $26.00. HC Wainwright currently has a buy rating on the stock. Pacira BioSciences shares last traded at $24.52, with a volume of 181,124 shares trading hands.

Other research analysts also recently issued reports about the stock. Truist Financial upgraded shares of Pacira BioSciences from a “sell” rating to a “hold” rating and increased their price objective for the company from $8.00 to $25.00 in a research note on Thursday, January 30th. 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 note on Friday. Royal Bank of Canada reissued a “sector perform” rating and issued a $18.00 price objective on shares of Pacira BioSciences in a report on Tuesday, January 14th. Finally, Barclays reduced their target price on Pacira BioSciences from $25.00 to $17.00 and set an “equal weight” rating on the stock in a report on Tuesday, November 12th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, Pacira BioSciences presently has an average rating of “Hold” and an average price target of $26.44.

Institutional Investors Weigh In On Pacira BioSciences

Several large investors have recently modified their holdings of the stock. Sterling Capital Management LLC lifted its holdings in shares of Pacira BioSciences by 779.4% during the fourth quarter. Sterling Capital Management LLC now owns 1,363 shares of the company’s stock valued at $26,000 after purchasing an additional 1,208 shares during the last quarter. Ancora Advisors LLC acquired a new stake in Pacira BioSciences during the 4th quarter worth about $26,000. Caitlin John LLC lifted its stake in Pacira BioSciences by 1,850.0% during the fourth quarter. Caitlin John LLC now owns 1,872 shares of the company’s stock valued at $35,000 after buying an additional 1,776 shares in the last quarter. Nisa Investment Advisors LLC boosted its holdings in shares of Pacira BioSciences by 495.3% in the fourth quarter. Nisa Investment Advisors LLC now owns 3,304 shares of the company’s stock worth $62,000 after buying an additional 2,749 shares during the period. Finally, PNC Financial Services Group Inc. increased its position in shares of Pacira BioSciences by 16.6% in the fourth quarter. PNC Financial Services Group Inc. now owns 3,597 shares of the company’s stock worth $68,000 after acquiring an additional 513 shares in the last quarter. 99.73% of the stock is owned by institutional investors.

Pacira BioSciences Price Performance

The company has a debt-to-equity ratio of 0.51, a current ratio of 2.25 and a quick ratio of 1.89. The firm has a market cap of $1.13 billion, a price-to-earnings ratio of -12.01 and a beta of 0.80. The stock’s fifty day moving average price is $23.06 and its 200-day moving average price is $18.50.

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.