Pacira BioSciences, Inc. (NASDAQ:PCRX) Receives $24.50 Consensus Price Target from Analysts

Shares of Pacira BioSciences, Inc. (NASDAQ:PCRX) have earned a consensus recommendation of “Hold” from the ten ratings firms that are currently covering the firm, MarketBeat reports. Two investment analysts have rated the stock with a sell recommendation, four have given a hold recommendation and four have issued a buy recommendation on the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $24.50.

A number of brokerages have issued reports on PCRX. HC Wainwright reissued a “buy” rating and issued a $39.00 target price on shares of Pacira BioSciences in a research report on Wednesday, December 4th. Needham & Company LLC boosted their price objective on Pacira BioSciences from $22.00 to $30.00 and gave the company a “buy” rating in a report on Monday, January 13th. Royal Bank of Canada restated a “sector perform” rating and set a $18.00 target price on shares of Pacira BioSciences in a report on Tuesday, January 14th. Finally, Barclays cut 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.

Pacira BioSciences Price Performance

Pacira BioSciences stock opened at $24.52 on Friday. The company’s 50 day simple moving average is $19.34 and its 200-day simple moving average is $17.54. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.89 and a current ratio of 2.25. Pacira BioSciences has a 1 year low of $11.16 and a 1 year high of $34.01. The company has a market capitalization of $1.13 billion, a price-to-earnings ratio of -12.08 and a beta of 0.76.

Institutional Investors Weigh In On Pacira BioSciences

A number of large investors have recently modified their holdings of PCRX. Pacer Advisors Inc. lifted its position in shares of Pacira BioSciences by 129.4% during the 3rd quarter. Pacer Advisors Inc. now owns 4,962,221 shares of the company’s stock worth $74,681,000 after purchasing an additional 2,799,434 shares during the last quarter. Assenagon Asset Management S.A. boosted its position in shares of Pacira BioSciences by 314.4% during the 3rd quarter. Assenagon Asset Management S.A. now owns 553,114 shares of the company’s stock worth $8,324,000 after acquiring an additional 419,656 shares in the last quarter. Doma Perpetual Capital Management LLC boosted its position in shares of Pacira BioSciences by 71.8% during the 2nd quarter. Doma Perpetual Capital Management LLC now owns 1,000,761 shares of the company’s stock worth $28,632,000 after acquiring an additional 418,321 shares in the last quarter. BNP Paribas Financial Markets raised its position in shares of Pacira BioSciences by 269.7% during the 3rd quarter. BNP Paribas Financial Markets now owns 395,695 shares of the company’s stock worth $5,955,000 after acquiring an additional 288,662 shares in the last quarter. Finally, PDT Partners LLC purchased a new stake in Pacira BioSciences during the third quarter worth approximately $3,469,000. 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.