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

Pacira BioSciences, Inc. (NASDAQ:PCRX)’s share price gapped up before the market opened on Friday after Barclays raised their price target on the stock from $17.00 to $24.00. The stock had previously closed at $25.38, but opened at $26.00. Barclays currently has an overweight rating on the stock. Pacira BioSciences shares last traded at $24.52, with a volume of 181,124 shares traded.

Several other brokerages also recently commented on PCRX. HC Wainwright increased their price objective on shares of Pacira BioSciences from $57.00 to $70.00 and gave the company a “buy” rating in a research note on Friday. Truist Financial raised shares of Pacira BioSciences from a “sell” rating to a “hold” rating and increased their price objective for the company from $8.00 to $25.00 in a research note on Thursday, January 30th. Royal Bank of Canada reissued a “sector perform” rating and issued a $18.00 price objective on shares of Pacira BioSciences in a research note on Tuesday, January 14th. Finally, Needham & Company LLC increased their price objective on shares of Pacira BioSciences from $30.00 to $32.00 and gave the company a “buy” rating in a research note on Friday. One equities 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. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $27.22.

Hedge Funds Weigh In On Pacira BioSciences

Large investors have recently modified their holdings of the business. Public Employees Retirement System of Ohio increased its position in shares of Pacira BioSciences by 21,458.4% during the fourth 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 position 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 worth $1,975,000 after buying an additional 21,781 shares during the period. Voloridge Investment Management LLC increased its position in shares of Pacira BioSciences by 129.2% during the fourth quarter. Voloridge Investment Management LLC now owns 116,149 shares of the company’s stock worth $2,188,000 after buying an additional 65,467 shares during the period. Squarepoint Ops LLC increased its position in shares of Pacira BioSciences by 72.2% during the fourth quarter. Squarepoint Ops LLC now owns 60,836 shares of the company’s stock worth $1,146,000 after buying an additional 25,505 shares during the period. Finally, Two Sigma Advisers LP acquired a new stake in shares of Pacira BioSciences during the fourth quarter worth $797,000. Institutional investors own 99.73% of the company’s stock.

Pacira BioSciences Stock Performance

The company has a debt-to-equity ratio of 0.51, a current ratio of 2.25 and a quick ratio of 1.89. The company’s 50-day moving average price is $23.16 and its two-hundred day moving average price is $18.58. The company has a market capitalization of $1.11 billion, a price-to-earnings ratio of -11.85 and a beta of 0.80.

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.