Needham & Company LLC Boosts Pacira BioSciences (NASDAQ:PCRX) Price Target to $30.00

Pacira BioSciences (NASDAQ:PCRX) had its price objective hoisted by Needham & Company LLC from $22.00 to $30.00 in a report released on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Needham & Company LLC’s target price indicates a potential upside of 45.35% from the company’s current price.

A number of other research firms have also recently commented on PCRX. Royal Bank of Canada increased their price target on Pacira BioSciences from $15.00 to $16.00 and gave the company a “sector perform” rating in a research note on Thursday, November 7th. Jefferies Financial Group increased their price objective on shares of Pacira BioSciences from $15.00 to $18.00 and gave the company a “buy” rating in a research report on Tuesday, September 24th. Barclays dropped their target price on shares of Pacira BioSciences from $25.00 to $17.00 and set an “equal weight” rating on the stock in a research report on Tuesday, November 12th. Finally, HC Wainwright restated a “buy” rating and set a $39.00 price target on shares of Pacira BioSciences in a research note on Wednesday, December 4th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Pacira BioSciences presently has a consensus rating of “Hold” and an average price target of $24.30.

Pacira BioSciences Stock Performance

Shares of PCRX stock opened at $20.64 on Monday. Pacira BioSciences has a 12-month low of $11.16 and a 12-month high of $34.01. The business’s fifty day simple moving average is $18.27 and its 200-day simple moving average is $17.59. The company has a current ratio of 2.25, a quick ratio of 1.89 and a debt-to-equity ratio of 0.51. The company has a market cap of $953.01 million, a PE ratio of -10.17 and a beta of 0.76.

Hedge Funds Weigh In On Pacira BioSciences

Several institutional investors and hedge funds have recently modified their holdings of PCRX. Pacer Advisors Inc. boosted its holdings in Pacira BioSciences by 129.4% during the third quarter. Pacer Advisors Inc. now owns 4,962,221 shares of the company’s stock worth $74,681,000 after buying an additional 2,799,434 shares in the last quarter. Renaissance Technologies LLC raised its position in shares of Pacira BioSciences by 9.8% in the second quarter. Renaissance Technologies LLC now owns 2,066,197 shares of the company’s stock worth $59,114,000 after acquiring an additional 184,000 shares during the period. State Street Corp boosted its stake in shares of Pacira BioSciences by 5.8% during the 3rd quarter. State Street Corp now owns 2,014,012 shares of the company’s stock worth $30,311,000 after acquiring an additional 110,162 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Pacira BioSciences by 12.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,828,065 shares of the company’s stock worth $52,300,000 after acquiring an additional 198,936 shares in the last quarter. Finally, Doma Perpetual Capital Management LLC grew 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 valued at $28,632,000 after acquiring an additional 418,321 shares during the period. Institutional investors and hedge funds 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.