Pacira BioSciences (NASDAQ:PCRX) Shares Gap Up – What’s Next?

Pacira BioSciences, Inc. (NASDAQ:PCRX)’s share price gapped up prior to trading on Friday . The stock had previously closed at $18.58, but opened at $20.14. Pacira BioSciences shares last traded at $20.63, with a volume of 72,556 shares traded.

Wall Street Analyst Weigh In

PCRX has been the topic of a number of research reports. HC Wainwright reissued a “buy” rating and issued a $39.00 price objective on shares of Pacira BioSciences in a research note on Wednesday, December 4th. Barclays cut their price target on Pacira BioSciences from $25.00 to $17.00 and set an “equal weight” rating for the company in a report on Tuesday, November 12th. Jefferies Financial Group lifted their price objective on Pacira BioSciences from $15.00 to $18.00 and gave the stock a “buy” rating in a research report on Tuesday, September 24th. Needham & Company LLC reaffirmed a “buy” rating and issued a $22.00 price objective on shares of Pacira BioSciences in a research report on Friday, November 8th. Finally, Royal Bank of Canada upped their price target on Pacira BioSciences from $15.00 to $16.00 and gave the stock a “sector perform” rating in a report on Thursday, November 7th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, Pacira BioSciences currently has a consensus rating of “Hold” and a consensus target price of $23.50.

Pacira BioSciences Stock Up 19.3 %

The stock’s 50 day simple moving average is $18.19 and its 200 day simple moving average is $17.80. The stock has a market capitalization of $1.02 billion, a P/E ratio of -10.92 and a beta of 0.76. The company has a current ratio of 2.25, a quick ratio of 1.89 and a debt-to-equity ratio of 0.51.

Institutional Investors Weigh In On Pacira BioSciences

Several institutional investors and hedge funds have recently made changes to their positions in PCRX. The Manufacturers Life Insurance Company increased its stake in Pacira BioSciences by 6.0% during the second quarter. The Manufacturers Life Insurance Company now owns 23,932 shares of the company’s stock valued at $685,000 after purchasing an additional 1,354 shares during the last quarter. Profund Advisors LLC grew its position in shares of Pacira BioSciences by 26.2% during the 2nd quarter. Profund Advisors LLC now owns 10,551 shares of the company’s stock valued at $302,000 after buying an additional 2,190 shares during the last quarter. China Universal Asset Management Co. Ltd. raised its stake in Pacira BioSciences by 62.3% during the third quarter. China Universal Asset Management Co. Ltd. now owns 8,872 shares of the company’s stock worth $134,000 after acquiring an additional 3,404 shares during the period. Mercer Global Advisors Inc. ADV lifted its holdings in Pacira BioSciences by 39.0% in the second quarter. Mercer Global Advisors Inc. ADV now owns 12,686 shares of the company’s stock worth $363,000 after acquiring an additional 3,562 shares during the last quarter. Finally, Quest Partners LLC acquired a new position in Pacira BioSciences in the second quarter valued at approximately $113,000. 99.73% of the stock is owned by institutional investors and hedge funds.

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.