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

Pacira BioSciences, Inc. (NASDAQ:PCRX)’s stock price gapped up before the market opened 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 traded.

Several other equities analysts have also issued reports on the company. Needham & Company LLC boosted their target price on Pacira BioSciences from $30.00 to $32.00 and gave the stock a “buy” rating in a research report on Friday, February 28th. 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. Royal Bank of Canada reissued a “sector perform” rating and set a $18.00 target price on shares of Pacira BioSciences in a research note on Tuesday, January 14th. Finally, Truist Financial raised Pacira BioSciences from a “sell” rating to a “hold” rating and upped their price target for the stock from $8.00 to $25.00 in a research 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 given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $26.67.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Charles Schwab Investment Management Inc. increased its position in Pacira BioSciences by 4.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 431,897 shares of the company’s stock worth $6,500,000 after buying an additional 16,819 shares during the period. Verition Fund Management LLC bought a new position in shares of Pacira BioSciences in the 3rd quarter valued at $493,000. Centiva Capital LP bought a new position in Pacira BioSciences in the third quarter valued at about $398,000. State Street Corp increased its position in Pacira BioSciences by 5.8% during the 3rd quarter. State Street Corp now owns 2,014,012 shares of the company’s stock worth $30,311,000 after purchasing an additional 110,162 shares in the last quarter. Finally, Hennion & Walsh Asset Management Inc. increased its holdings in shares of Pacira BioSciences by 18.1% during the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 56,385 shares of the company’s stock worth $1,062,000 after buying an additional 8,636 shares in the last quarter. 99.73% of the stock is owned by institutional investors and hedge funds.

Pacira BioSciences Stock Up 17.4 %

The company has a debt-to-equity ratio of 0.51, a current ratio of 2.25 and a quick ratio of 1.89. The stock has a market capitalization of $1.24 billion, a P/E ratio of -13.29 and a beta of 0.71. The firm has a 50-day simple moving average of $24.82 and a 200 day simple moving average of $20.43.

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.