Brokerages Set Pacira BioSciences, Inc. (NASDAQ:PCRX) Price Target at $27.22

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

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

Institutional Trading of Pacira BioSciences

A number of hedge funds have recently bought and sold shares of PCRX. Verition Fund Management LLC purchased a new position in shares of Pacira BioSciences during the third quarter valued at $493,000. Centiva Capital LP acquired a new position in Pacira BioSciences during the third quarter worth $398,000. State Street Corp lifted its position in shares of Pacira BioSciences by 5.8% in the third quarter. State Street Corp now owns 2,014,012 shares of the company’s stock worth $30,311,000 after buying an additional 110,162 shares during the last quarter. Nisa Investment Advisors LLC boosted its stake in shares of Pacira BioSciences by 495.3% during the 4th quarter. Nisa Investment Advisors LLC now owns 3,304 shares of the company’s stock worth $62,000 after acquiring an additional 2,749 shares in the last quarter. Finally, Quantbot Technologies LP acquired a new position in shares of Pacira BioSciences during the 3rd quarter valued at about $257,000. 99.73% of the stock is owned by hedge funds and other institutional investors.

Pacira BioSciences Trading Down 4.9 %

Shares of NASDAQ PCRX opened at $23.10 on Friday. Pacira BioSciences has a 52-week low of $11.16 and a 52-week high of $31.67. The company has a quick ratio of 1.89, a current ratio of 2.25 and a debt-to-equity ratio of 0.51. The stock has a market capitalization of $1.07 billion, a P/E ratio of -11.38 and a beta of 0.70. The stock’s 50 day moving average price is $24.88 and its two-hundred day moving average price is $20.38.

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.