Pacira BioSciences (NASDAQ:PCRX) Shares Up 4.7% – Still a Buy?

Pacira BioSciences, Inc. (NASDAQ:PCRX)’s share price traded up 4.7% during mid-day trading on Friday . The stock traded as high as $24.26 and last traded at $24.43. 77,954 shares changed hands during trading, a decline of 90% from the average session volume of 756,200 shares. The stock had previously closed at $23.33.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Royal Bank of Canada reiterated a “sector perform” rating and set a $18.00 target price on shares of Pacira BioSciences in a report on Tuesday, January 14th. Needham & Company LLC lifted their price objective on Pacira BioSciences from $22.00 to $30.00 and gave the stock a “buy” rating in a research report on Monday, January 13th. HC Wainwright reissued a “buy” rating and issued a $39.00 target price on shares of Pacira BioSciences in a research note on Wednesday, December 4th. Finally, Barclays decreased their price target on shares of Pacira BioSciences from $25.00 to $17.00 and set an “equal weight” rating on the stock in a research note on Tuesday, November 12th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $24.50.

Pacira BioSciences Stock Up 6.0 %

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 cap of $1.14 billion, a price-to-earnings ratio of -12.11 and a beta of 0.76. The firm’s 50-day moving average is $19.04 and its 200 day moving average is $17.50.

Institutional Investors Weigh In On Pacira BioSciences

A number of institutional investors have recently added to or reduced their stakes in PCRX. China Universal Asset Management Co. Ltd. boosted its position in 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 purchasing an additional 918 shares during the period. The Manufacturers Life Insurance Company boosted its position in shares of Pacira BioSciences by 6.0% in the second quarter. The Manufacturers Life Insurance Company now owns 23,932 shares of the company’s stock worth $685,000 after buying an additional 1,354 shares during the period. Profund Advisors LLC grew its stake in shares of Pacira BioSciences by 26.2% in the second quarter. Profund Advisors LLC now owns 10,551 shares of the company’s stock valued at $302,000 after buying an additional 2,190 shares in the last quarter. Nisa Investment Advisors LLC raised its holdings in shares of Pacira BioSciences by 495.3% during the 4th quarter. Nisa Investment Advisors LLC now owns 3,304 shares of the company’s stock valued at $62,000 after buying an additional 2,749 shares during the period. Finally, Mercer Global Advisors Inc. ADV lifted its position in Pacira BioSciences by 39.0% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 12,686 shares of the company’s stock worth $363,000 after acquiring an additional 3,562 shares in the last quarter. Hedge funds and other institutional investors own 99.73% of the company’s stock.

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.