Pacira BioSciences (NASDAQ:PCRX) Shares Up 5.7% – Time to Buy?

Shares of Pacira BioSciences, Inc. (NASDAQ:PCRX) rose 5.7% during trading on Monday . The company traded as high as $26.73 and last traded at $26.06. Approximately 118,813 shares were traded during trading, a decline of 88% from the average daily volume of 971,122 shares. The stock had previously closed at $24.65.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. HC Wainwright upped their price objective on Pacira BioSciences from $48.00 to $65.00 and gave the company a “buy” rating in a report on Tuesday, April 8th. Needham & Company LLC reissued a “buy” rating and issued a $32.00 price objective on shares of Pacira BioSciences in a research note on Tuesday, April 8th. Royal Bank of Canada reissued a “sector perform” rating and issued a $18.00 price target on shares of Pacira BioSciences in a research report on Tuesday, January 14th. Truist Financial raised Pacira BioSciences from a “sell” rating to a “hold” rating and upped their price objective for the stock from $8.00 to $25.00 in a research report on Thursday, January 30th. Finally, Barclays lifted their target price on Pacira BioSciences from $17.00 to $24.00 and gave the company an “overweight” rating in a report on Friday, February 28th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, Pacira BioSciences currently has an average rating of “Hold” and an average target price of $26.67.

Pacira BioSciences Trading Down 1.7 %

The firm has a market capitalization of $1.18 billion, a price-to-earnings ratio of -12.54 and a beta of 0.71. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.89 and a current ratio of 2.25. The company has a 50-day moving average price of $24.51 and a 200-day moving average price of $21.28.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Sterling Capital Management LLC grew its stake in Pacira BioSciences by 779.4% during the 4th quarter. Sterling Capital Management LLC now owns 1,363 shares of the company’s stock worth $26,000 after buying an additional 1,208 shares during the last quarter. Ancora Advisors LLC purchased a new stake in Pacira BioSciences in the 4th quarter valued at $26,000. Caitlin John LLC raised its position 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 purchasing an additional 1,776 shares during the last quarter. Nisa Investment Advisors LLC grew its position in Pacira BioSciences by 495.3% during the 4th quarter. Nisa Investment Advisors LLC now owns 3,304 shares of the company’s stock worth $62,000 after purchasing an additional 2,749 shares during the last quarter. Finally, PNC Financial Services Group Inc. increased 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 purchasing an additional 513 shares during the period. 99.73% of the stock is owned by hedge funds and other institutional investors.

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.