Needham & Company LLC Reiterates “Buy” Rating for Pacira BioSciences (NASDAQ:PCRX)

Pacira BioSciences (NASDAQ:PCRX)‘s stock had its “buy” rating reaffirmed by research analysts at Needham & Company LLC in a report released on Tuesday,Benzinga reports. They currently have a $32.00 target price on the stock. Needham & Company LLC’s price objective would suggest a potential upside of 23.84% from the company’s current price.

A number of other research analysts also recently commented on PCRX. Royal Bank of Canada reissued a “sector perform” rating and set a $18.00 target price on shares of Pacira BioSciences in a research report on Tuesday, January 14th. Truist Financial upgraded shares of Pacira BioSciences from a “sell” rating to a “hold” rating and lifted their target price for the stock from $8.00 to $25.00 in a research note on Thursday, January 30th. HC Wainwright raised their price objective on Pacira BioSciences from $48.00 to $65.00 and gave the stock a “buy” rating in a research note on Tuesday. Finally, Barclays increased their price target on Pacira BioSciences from $17.00 to $24.00 and gave the stock an “overweight” rating in a research report on Friday, February 28th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $26.67.

Pacira BioSciences Price Performance

Shares of PCRX stock opened at $25.84 on Tuesday. Pacira BioSciences has a one year low of $11.16 and a one year high of $31.67. The company has a market capitalization of $1.20 billion, a P/E ratio of -12.73 and a beta of 0.71. The company’s 50-day simple moving average is $24.82 and its two-hundred day simple moving average is $20.67. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.25 and a quick ratio of 1.89.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Sterling Capital Management LLC raised its position in shares of Pacira BioSciences by 779.4% in the fourth quarter. Sterling Capital Management LLC now owns 1,363 shares of the company’s stock valued at $26,000 after buying an additional 1,208 shares during the last quarter. Ancora Advisors LLC purchased a new position in Pacira BioSciences during the fourth quarter worth about $26,000. Caitlin John LLC raised 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 buying an additional 1,776 shares during the period. Nisa Investment Advisors LLC lifted its holdings in Pacira BioSciences by 495.3% in the fourth quarter. Nisa Investment Advisors LLC now owns 3,304 shares of the company’s stock valued at $62,000 after acquiring an additional 2,749 shares during the last quarter. Finally, PNC Financial Services Group Inc. grew its position in Pacira BioSciences by 16.6% in the fourth quarter. PNC Financial Services Group Inc. now owns 3,597 shares of the company’s stock worth $68,000 after acquiring an additional 513 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.