Pacira BioSciences’ (PCRX) Buy Rating Reaffirmed at Needham & Company LLC

Pacira BioSciences (NASDAQ:PCRX)‘s stock had its “buy” rating reaffirmed by stock analysts at Needham & Company LLC in a research note issued on Tuesday,Benzinga reports. They presently have a $32.00 price target on the stock. Needham & Company LLC’s target price would suggest a potential upside of 39.68% from the stock’s current price.

Other equities research analysts have also issued research reports about the company. HC Wainwright upped their target price on Pacira BioSciences from $48.00 to $65.00 and gave the company a “buy” rating in a research note on Tuesday. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $18.00 price objective on shares of Pacira BioSciences in a research note on Tuesday, January 14th. Barclays lifted their price objective on Pacira BioSciences from $17.00 to $24.00 and gave the stock an “overweight” rating in a research report on Friday, February 28th. Finally, Truist Financial raised shares of Pacira BioSciences from a “sell” rating to a “hold” rating and raised their price target for the stock from $8.00 to $25.00 in a research note on Thursday, January 30th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $26.67.

Pacira BioSciences Stock Performance

NASDAQ PCRX opened at $22.91 on Tuesday. The business has a 50 day moving average price of $24.82 and a 200 day moving average price of $20.43. The company has a market capitalization of $1.06 billion, a P/E ratio of -11.29 and a beta of 0.71. Pacira BioSciences has a 1-year low of $11.16 and a 1-year high of $31.67. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.25 and a quick ratio of 1.89.

Institutional Trading of Pacira BioSciences

A number of institutional investors have recently modified their holdings of the company. Point72 Asset Management L.P. purchased a new position in shares of Pacira BioSciences in the 4th quarter valued at $20,266,000. Jacobs Levy Equity Management Inc. acquired a new stake in Pacira BioSciences in the 4th quarter valued at $8,558,000. Balyasny Asset Management L.P. purchased a new position in Pacira BioSciences in the fourth quarter valued at about $8,180,000. Nuveen Asset Management LLC lifted its stake in shares of Pacira BioSciences by 109.9% during the fourth quarter. Nuveen Asset Management LLC now owns 625,917 shares of the company’s stock worth $11,792,000 after purchasing an additional 327,754 shares in the last quarter. Finally, Ameriprise Financial Inc. boosted its position in shares of Pacira BioSciences by 150.1% in the fourth quarter. Ameriprise Financial Inc. now owns 324,261 shares of the company’s stock worth $6,109,000 after buying an additional 194,597 shares during the period. Hedge funds and other institutional investors own 99.73% of the company’s stock.

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.