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

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

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

Pacira BioSciences Price Performance

Pacira BioSciences stock opened at $22.87 on Monday. 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 firm’s fifty day moving average is $23.96 and its 200 day moving average is $19.25. The company has a market cap of $1.06 billion, a price-to-earnings ratio of -11.27 and a beta of 0.86.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in PCRX. Sterling Capital Management LLC increased its position 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 acquiring an additional 1,208 shares during the last quarter. Ancora Advisors LLC purchased a new stake in Pacira BioSciences during the fourth quarter worth approximately $26,000. Caitlin John LLC raised its stake in Pacira BioSciences by 1,850.0% during the 4th quarter. Caitlin John LLC now owns 1,872 shares of the company’s stock worth $35,000 after acquiring an additional 1,776 shares in the last quarter. Nisa Investment Advisors LLC increased its position in Pacira BioSciences by 495.3% during 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. lifted its stake in Pacira BioSciences by 16.6% in the fourth quarter. PNC Financial Services Group Inc. now owns 3,597 shares of the company’s stock valued at $68,000 after buying an additional 513 shares during the last quarter. 99.73% of the stock is currently owned by institutional investors and hedge funds.

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.