Pacira BioSciences, Inc. (NASDAQ:PCRX) Receives $27.22 Consensus PT from Brokerages

Pacira BioSciences, Inc. (NASDAQ:PCRX) has been assigned a consensus recommendation of “Hold” from the nine analysts that are currently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, four have given a hold recommendation and four have assigned a buy recommendation to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $27.22.

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

Hedge Funds Weigh In On Pacira BioSciences

Hedge funds have recently modified their holdings of the stock. Pacer Advisors Inc. grew its stake in Pacira BioSciences by 129.4% during 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 in the last quarter. State Street Corp grew its position in shares of Pacira BioSciences by 5.8% during the third quarter. State Street Corp now owns 2,014,012 shares of the company’s stock valued at $30,311,000 after purchasing an additional 110,162 shares in the last quarter. Renaissance Technologies LLC lifted its position in shares of Pacira BioSciences by 0.7% in the fourth quarter. Renaissance Technologies LLC now owns 1,992,601 shares of the company’s stock worth $37,541,000 after buying an additional 13,604 shares in the last quarter. Geode Capital Management LLC boosted its stake in Pacira BioSciences by 0.5% during the fourth quarter. Geode Capital Management LLC now owns 1,091,970 shares of the company’s stock valued at $20,578,000 after buying an additional 5,071 shares during the last quarter. Finally, Point72 Asset Management L.P. bought a new stake in Pacira BioSciences in the 4th quarter worth approximately $20,266,000. Hedge funds and other institutional investors own 99.73% of the company’s stock.

Pacira BioSciences Trading Down 4.8 %

Shares of PCRX stock opened at $22.04 on Monday. 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 company has a market cap of $1.02 billion, a price-to-earnings ratio of -10.86 and a beta of 0.86. Pacira BioSciences has a 1 year low of $11.16 and a 1 year high of $31.67. The firm has a fifty day moving average price of $23.78 and a 200-day moving average price of $19.16.

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.