Pacira BioSciences (NASDAQ:PCRX) Upgraded to Hold at Truist Financial

Pacira BioSciences (NASDAQ:PCRX) was upgraded by investment analysts at Truist Financial from a “sell” rating to a “hold” rating in a report released on Thursday,Finviz reports. The brokerage presently has a $25.00 price target on the stock, up from their prior price target of $8.00. Truist Financial’s price objective would indicate a potential downside of 3.96% from the stock’s previous close.

Other analysts have also issued research reports about the stock. Barclays lowered their price objective on shares of Pacira BioSciences from $25.00 to $17.00 and set an “equal weight” rating for the company in a research note on Tuesday, November 12th. Needham & Company LLC lifted their price target on shares of Pacira BioSciences from $22.00 to $30.00 and gave the company a “buy” rating in a research note on Monday, January 13th. HC Wainwright reissued a “buy” rating and set a $39.00 price objective on shares of Pacira BioSciences in a research report on Wednesday, December 4th. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $18.00 price objective on shares of Pacira BioSciences in a report on Tuesday, January 14th. One analyst has rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $26.20.

Pacira BioSciences Trading Up 1.1 %

NASDAQ PCRX opened at $26.03 on Thursday. The stock has a market capitalization of $1.20 billion, a P/E ratio of -12.82 and a beta of 0.76. The business has a 50 day simple moving average of $19.70 and a 200 day simple moving average of $17.58. 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 has a one year low of $11.16 and a one year high of $34.01.

Hedge Funds Weigh In On Pacira BioSciences

A number of hedge funds have recently bought and sold shares of PCRX. Empowered Funds LLC raised its holdings in shares of Pacira BioSciences by 5.1% in the fourth quarter. Empowered Funds LLC now owns 229,485 shares of the company’s stock valued at $4,323,000 after purchasing an additional 11,149 shares during the last quarter. Caitlin John LLC increased 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 during the last quarter. China Universal Asset Management Co. Ltd. lifted its position in shares of Pacira BioSciences by 10.3% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 9,790 shares of the company’s stock worth $184,000 after buying an additional 918 shares in the last quarter. Gagnon Securities LLC boosted its stake in shares of Pacira BioSciences by 4.8% in the 4th quarter. Gagnon Securities LLC now owns 321,743 shares of the company’s stock worth $6,062,000 after buying an additional 14,800 shares during the last quarter. Finally, Nisa Investment Advisors LLC grew 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 valued at $62,000 after acquiring an additional 2,749 shares in the last quarter. 99.73% of the stock is owned by hedge funds and other institutional investors.

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.