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

Pacira BioSciences, Inc. (NASDAQ:PCRX) gapped up prior to trading on Tuesday after HC Wainwright raised their price target on the stock from $48.00 to $65.00. The stock had previously closed at $22.91, but opened at $27.60. HC Wainwright currently has a buy rating on the stock. Pacira BioSciences shares last traded at $26.70, with a volume of 623,434 shares changing hands.

Other equities research analysts also recently issued reports about the company. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $18.00 price target on shares of Pacira BioSciences in a research report on Tuesday, January 14th. Needham & Company LLC lifted their price target on Pacira BioSciences from $30.00 to $32.00 and gave the company a “buy” rating in a research report on Friday, February 28th. Barclays upped their price objective on Pacira BioSciences from $17.00 to $24.00 and gave the stock an “overweight” rating in a research report on Friday, February 28th. Finally, Truist Financial raised shares of Pacira BioSciences from a “sell” rating to a “hold” rating and lifted their target price for the company from $8.00 to $25.00 in a report on Thursday, January 30th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $26.67.

Institutional Investors Weigh In On Pacira BioSciences

A number of institutional investors have recently added to or reduced their stakes in the stock. Sterling Capital Management LLC grew its position in shares of Pacira BioSciences by 779.4% in 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 period. Ancora Advisors LLC purchased a new position in Pacira BioSciences in the 4th quarter valued at about $26,000. Caitlin John LLC lifted its stake in Pacira BioSciences by 1,850.0% in the 4th 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 Pacira BioSciences by 495.3% in the 4th 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 last quarter. Finally, PNC Financial Services Group Inc. increased its stake in Pacira BioSciences by 16.6% during the 4th quarter. PNC Financial Services Group Inc. now owns 3,597 shares of the company’s stock worth $68,000 after buying an additional 513 shares in the last quarter. Institutional investors and hedge funds own 99.73% of the company’s stock.

Pacira BioSciences Stock Up 14.7 %

The firm has a market cap of $1.22 billion, a price-to-earnings ratio of -12.94 and a beta of 0.71. The business has a fifty day simple moving average of $24.84 and a 200 day simple moving average of $20.56. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.25 and a quick ratio of 1.89.

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.