Truist Financial Cuts Pacira BioSciences (NASDAQ:PCRX) Price Target to $28.00

Pacira BioSciences (NASDAQ:PCRX) had its price objective cut by Truist Financial from $30.00 to $28.00 in a report published on Friday,Benzinga reports. They currently have a buy rating on the stock.

Several other analysts have also recently weighed in on PCRX. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Pacira BioSciences in a research note on Wednesday, October 8th. Zacks Research raised Pacira BioSciences from a “strong sell” rating to a “hold” rating in a research note on Thursday, August 14th. Four investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Pacira BioSciences currently has an average rating of “Hold” and a consensus target price of $33.00.

Pacira BioSciences Stock Performance

Pacira BioSciences stock opened at $22.05 on Friday. The firm has a market capitalization of $990.77 million, a P/E ratio of -7.93 and a beta of 0.36. The stock has a fifty day moving average price of $24.25 and a two-hundred day moving average price of $24.44. Pacira BioSciences has a 52-week low of $16.00 and a 52-week high of $27.64. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.38 and a quick ratio of 1.91.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of PCRX. Public Sector Pension Investment Board raised its position in shares of Pacira BioSciences by 3.2% during the third quarter. Public Sector Pension Investment Board now owns 204,970 shares of the company’s stock worth $5,282,000 after acquiring an additional 6,303 shares during the last quarter. LSV Asset Management raised its holdings in Pacira BioSciences by 20.1% during the 3rd quarter. LSV Asset Management now owns 114,300 shares of the company’s stock worth $2,946,000 after purchasing an additional 19,100 shares during the last quarter. Impax Asset Management Group plc lifted its position in Pacira BioSciences by 27.7% during the 3rd quarter. Impax Asset Management Group plc now owns 600,027 shares of the company’s stock valued at $15,463,000 after purchasing an additional 130,000 shares during the period. Hantz Financial Services Inc. boosted its stake in shares of Pacira BioSciences by 175.4% in the 3rd quarter. Hantz Financial Services Inc. now owns 1,132 shares of the company’s stock valued at $29,000 after purchasing an additional 721 shares during the last quarter. Finally, State of Wyoming boosted its stake in shares of Pacira BioSciences by 145.3% in the 3rd quarter. State of Wyoming now owns 10,427 shares of the company’s stock valued at $269,000 after purchasing an additional 6,177 shares during the last quarter. 99.73% of the stock is currently owned by 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.