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

Pacira BioSciences, Inc. (NASDAQ:PCRX)’s share price gapped up prior to trading on Friday after HC Wainwright raised their price target on the stock from $57.00 to $70.00. The stock had previously closed at $25.38, but opened at $26.00. HC Wainwright currently has a buy rating on the stock. Pacira BioSciences shares last traded at $24.52, with a volume of 181,124 shares.

A number of other research analysts also recently commented on the stock. Barclays lowered their price objective on shares of Pacira BioSciences from $25.00 to $17.00 and set an “equal weight” rating on the stock in a research report on Tuesday, November 12th. Truist Financial upgraded Pacira BioSciences from a “sell” rating to a “hold” rating and increased their price objective for the stock from $8.00 to $25.00 in a report on Thursday, January 30th. Royal Bank of Canada restated a “sector perform” rating and issued a $18.00 target price on shares of Pacira BioSciences in a research note on Tuesday, January 14th. Finally, Needham & Company LLC raised their price target on Pacira BioSciences from $30.00 to $32.00 and gave the stock a “buy” rating in a research note on Friday. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, Pacira BioSciences presently has an average rating of “Hold” and a consensus target price of $26.44.

Institutional Investors Weigh In On Pacira BioSciences

Large investors have recently added to or reduced their stakes in the stock. Pacer Advisors Inc. raised its holdings in Pacira BioSciences by 129.4% in the 3rd quarter. Pacer Advisors Inc. now owns 4,962,221 shares of the company’s stock worth $74,681,000 after acquiring an additional 2,799,434 shares during the period. Point72 Asset Management L.P. acquired a new stake in shares of Pacira BioSciences in the fourth quarter valued at about $20,266,000. Jacobs Levy Equity Management Inc. acquired a new stake in shares of Pacira BioSciences in the fourth quarter valued at about $8,558,000. Balyasny Asset Management L.P. acquired a new position in shares of Pacira BioSciences during the 4th quarter worth about $8,180,000. Finally, Nuveen Asset Management LLC boosted its stake in Pacira BioSciences by 109.9% during the 4th quarter. Nuveen Asset Management LLC now owns 625,917 shares of the company’s stock valued at $11,792,000 after purchasing an additional 327,754 shares during the period. Institutional investors own 99.73% of the company’s stock.

Pacira BioSciences Price Performance

The company has a current ratio of 2.25, a quick ratio of 1.89 and a debt-to-equity ratio of 0.51. The stock has a fifty day simple moving average of $23.06 and a 200-day simple moving average of $18.50. The stock has a market cap of $1.13 billion, a price-to-earnings ratio of -12.01 and a beta of 0.80.

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.