Pacira BioSciences, Inc. (NASDAQ:PCRX) Given Average Recommendation of “Hold” by Brokerages

Shares of Pacira BioSciences, Inc. (NASDAQ:PCRX) have earned a consensus recommendation of “Hold” from the ten research firms that are covering the firm, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $24.50.

Several brokerages have recently issued reports on PCRX. Barclays decreased their price target on shares of Pacira BioSciences from $25.00 to $17.00 and set an “equal weight” rating for the company in a report on Tuesday, November 12th. HC Wainwright reissued a “buy” rating and issued a $39.00 price target on shares of Pacira BioSciences in a report on Wednesday, December 4th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $18.00 target price on shares of Pacira BioSciences in a research note on Tuesday, January 14th. Finally, Needham & Company LLC upped their target price on shares of Pacira BioSciences from $22.00 to $30.00 and gave the stock a “buy” rating in a research note on Monday, January 13th.

Pacira BioSciences Stock Performance

Shares of Pacira BioSciences stock opened at $23.33 on Friday. 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 firm has a market cap of $1.08 billion, a P/E ratio of -11.49 and a beta of 0.76. The firm has a 50 day simple moving average of $19.04 and a 200 day simple moving average of $17.50. Pacira BioSciences has a fifty-two week low of $11.16 and a fifty-two week high of $34.01.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Pacer Advisors Inc. grew its position in shares of Pacira BioSciences by 129.4% during the 3rd quarter. Pacer Advisors Inc. now owns 4,962,221 shares of the company’s stock worth $74,681,000 after purchasing an additional 2,799,434 shares in the last quarter. State Street Corp boosted its position 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 position 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. Doma Perpetual Capital Management LLC boosted 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 worth $28,632,000 after acquiring an additional 418,321 shares in the last quarter. Finally, Marshall Wace LLP boosted its position in shares of Pacira BioSciences by 19.7% during the 2nd quarter. Marshall Wace LLP now owns 971,143 shares of the company’s stock worth $27,784,000 after acquiring an additional 159,791 shares in the last quarter. 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.