Pacira BioSciences, Inc. (NASDAQ:PCRX) Receives Consensus Recommendation of “Hold” from Analysts

Shares of Pacira BioSciences, Inc. (NASDAQ:PCRX) have received an average recommendation of “Hold” from the ten brokerages that are presently covering the firm, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $23.50.

A number of research analysts have recently issued reports on the company. Barclays dropped their target price on Pacira BioSciences from $25.00 to $17.00 and set an “equal weight” rating on the stock in a report on Tuesday, November 12th. Royal Bank of Canada boosted their price objective on shares of Pacira BioSciences from $15.00 to $16.00 and gave the company a “sector perform” rating in a research note on Thursday, November 7th. HC Wainwright restated a “buy” rating and issued a $39.00 target price on shares of Pacira BioSciences in a research note on Wednesday, December 4th. Needham & Company LLC reaffirmed a “buy” rating and issued a $22.00 target price on shares of Pacira BioSciences in a report on Friday, November 8th. Finally, Jefferies Financial Group increased their price target on shares of Pacira BioSciences from $15.00 to $18.00 and gave the stock a “buy” rating in a report on Tuesday, September 24th.

Hedge Funds Weigh In On Pacira BioSciences

Hedge funds and other institutional investors have recently bought and sold shares of the company. Virtus Investment Advisers Inc. acquired a new stake in Pacira BioSciences in the third quarter valued at $98,000. State Street Corp grew its stake in Pacira BioSciences by 5.8% in the 3rd quarter. State Street Corp now owns 2,014,012 shares of the company’s stock valued at $30,311,000 after acquiring an additional 110,162 shares during the last quarter. Centiva Capital LP acquired a new stake in Pacira BioSciences in the 3rd quarter valued at about $398,000. PDT Partners LLC purchased a new position in Pacira BioSciences during the 3rd quarter valued at about $3,469,000. Finally, Verition Fund Management LLC acquired a new position in Pacira BioSciences during the third quarter worth about $493,000. 99.73% of the stock is owned by institutional investors and hedge funds.

Pacira BioSciences Stock Performance

Shares of PCRX stock opened at $19.65 on Wednesday. The stock’s 50-day moving average price is $17.91 and its 200 day moving average price is $18.25. The company has a quick ratio of 1.89, a current ratio of 2.25 and a debt-to-equity ratio of 0.51. The stock has a market capitalization of $907.30 million, a PE ratio of -9.68 and a beta of 0.80. Pacira BioSciences has a 52-week low of $11.16 and a 52-week high of $35.95.

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.