Pacira BioSciences (NASDAQ:PCRX) Shares Gap Up After Analyst Upgrade

Pacira BioSciences, Inc. (NASDAQ:PCRX) shares gapped up prior to trading on Tuesday after HC Wainwright raised their price target on the stock from $48.00 to $65.00. The stock had previously closed at $22.91, but opened at $27.60. HC Wainwright currently has a buy rating on the stock. Pacira BioSciences shares last traded at $26.70, with a volume of 623,434 shares trading hands.

Other equities analysts have also recently issued reports about the company. Truist Financial upgraded Pacira BioSciences from a “sell” rating to a “hold” rating and increased their target price for the stock from $8.00 to $25.00 in a report on Thursday, January 30th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $18.00 price objective on shares of Pacira BioSciences in a research report on Tuesday, January 14th. Needham & Company LLC lifted their price objective on Pacira BioSciences from $30.00 to $32.00 and gave the stock a “buy” rating in a report on Friday, February 28th. Finally, Barclays boosted their target price on shares of Pacira BioSciences from $17.00 to $24.00 and gave the company an “overweight” rating in a report on Friday, February 28th. One equities research analyst has 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. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $26.67.

Institutional Investors Weigh In On Pacira BioSciences

Institutional investors have recently added to or reduced their stakes in the company. GAMMA Investing LLC increased its position in shares of Pacira BioSciences by 5,187.8% in the first quarter. GAMMA Investing LLC now owns 91,796 shares of the company’s stock valued at $2,281,000 after acquiring an additional 90,060 shares during the period. Wellington Management Group LLP raised its position in Pacira BioSciences by 3.4% during the 4th quarter. Wellington Management Group LLP now owns 470,191 shares of the company’s stock valued at $8,858,000 after purchasing an additional 15,542 shares during the last quarter. Public Employees Retirement System of Ohio lifted its holdings in Pacira BioSciences by 21,458.4% in the 4th quarter. Public Employees Retirement System of Ohio now owns 91,192 shares of the company’s stock worth $1,718,000 after buying an additional 90,769 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Pacira BioSciences by 26.2% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 104,855 shares of the company’s stock valued at $1,975,000 after buying an additional 21,781 shares during the period. Finally, Voloridge Investment Management LLC lifted its stake in Pacira BioSciences by 129.2% in the fourth quarter. Voloridge Investment Management LLC now owns 116,149 shares of the company’s stock worth $2,188,000 after acquiring an additional 65,467 shares during the period. Hedge funds and other institutional investors own 99.73% of the company’s stock.

Pacira BioSciences Price Performance

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 business’s 50 day moving average price is $24.82 and its two-hundred day moving average price is $20.43. The stock has a market cap of $1.24 billion, a P/E ratio of -13.29 and a beta of 0.71.

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.