Pacira BioSciences (NASDAQ:PCRX) Price Target Raised to $24.00

Pacira BioSciences (NASDAQ:PCRX) had its target price lifted by investment analysts at Barclays from $17.00 to $24.00 in a research note issued to investors on Friday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Barclays‘s price objective would suggest a potential downside of 0.21% from the company’s current price.

A number of other research firms have also issued reports on PCRX. Royal Bank of Canada reiterated a “sector perform” rating and set a $18.00 price objective on shares of Pacira BioSciences in a research note on Tuesday, January 14th. Needham & Company LLC boosted their price objective on Pacira BioSciences from $30.00 to $32.00 and gave the company a “buy” rating in a research note on Friday. HC Wainwright boosted their price objective on Pacira BioSciences from $57.00 to $70.00 and gave the company a “buy” rating in a research note on Friday. Finally, Truist Financial upgraded Pacira BioSciences from a “sell” rating to a “hold” rating and boosted their price objective for the company from $8.00 to $25.00 in a research note on Thursday, January 30th. One analyst has rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, Pacira BioSciences has an average rating of “Hold” and an average target price of $27.22.

Pacira BioSciences Stock Performance

Shares of NASDAQ PCRX traded down $1.33 during trading on Friday, reaching $24.05. 1,664,572 shares of the stock traded hands, compared to its average volume of 841,658. Pacira BioSciences has a 52-week low of $11.16 and a 52-week 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. The company has a 50-day moving average of $23.06 and a 200-day moving average of $18.50. The stock has a market capitalization of $1.11 billion, a P/E ratio of -11.85 and a beta of 0.80.

Hedge Funds Weigh In On Pacira BioSciences

A number of institutional investors have recently added to or reduced their stakes in PCRX. Sterling Capital Management LLC increased its stake in Pacira BioSciences by 779.4% in the 4th quarter. Sterling Capital Management LLC now owns 1,363 shares of the company’s stock worth $26,000 after acquiring an additional 1,208 shares during the last quarter. Ancora Advisors LLC bought a new position in shares of Pacira BioSciences during the 4th quarter valued at about $26,000. Caitlin John LLC increased its position in shares of Pacira BioSciences by 1,850.0% during 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 increased its position 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 purchasing an additional 2,749 shares during the last quarter. Finally, PNC Financial Services Group Inc. increased its position in shares of Pacira BioSciences by 16.6% during the 4th 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 last quarter. 99.73% of the stock is currently owned by institutional investors.

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.