Pacira BioSciences (NASDAQ:PCRX) Given New $70.00 Price Target at HC Wainwright

Pacira BioSciences (NASDAQ:PCRX) had its price objective lifted by analysts at HC Wainwright from $57.00 to $70.00 in a research report issued on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. HC Wainwright’s target price would indicate a potential upside of 175.81% from the stock’s current price.

PCRX has been the subject of a number of other reports. Truist Financial upgraded shares of Pacira BioSciences from a “sell” rating to a “hold” rating and lifted their price target for the company from $8.00 to $25.00 in a research report on Thursday, January 30th. Barclays lowered their price objective on Pacira BioSciences from $25.00 to $17.00 and set an “equal weight” rating on the stock in a research note on Tuesday, November 12th. Needham & Company LLC upped their target price on Pacira BioSciences from $30.00 to $32.00 and gave the company a “buy” rating in a research report on Friday. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $18.00 target price on shares of Pacira BioSciences in a report on Tuesday, January 14th. One analyst has rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, Pacira BioSciences currently has an average rating of “Hold” and an average price target of $26.44.

Pacira BioSciences Price Performance

NASDAQ:PCRX opened at $25.38 on Friday. Pacira BioSciences has a 52 week low of $11.16 and a 52 week high of $31.67. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.89 and a current ratio of 2.25. The firm’s 50-day simple moving average is $23.06 and its 200 day simple moving average is $18.50. The firm has a market cap of $1.17 billion, a price-to-earnings ratio of -12.50 and a beta of 0.80.

Institutional Trading of Pacira BioSciences

Several institutional investors and hedge funds have recently modified their holdings of the business. Pacer Advisors Inc. lifted its holdings in shares of Pacira BioSciences by 129.4% in the third quarter. Pacer Advisors Inc. now owns 4,962,221 shares of the company’s stock worth $74,681,000 after acquiring an additional 2,799,434 shares during the last quarter. Point72 Asset Management L.P. acquired a new position in Pacira BioSciences during the 4th quarter worth approximately $20,266,000. Jacobs Levy Equity Management Inc. bought a new position in Pacira BioSciences in the 4th quarter valued at approximately $8,558,000. Balyasny Asset Management L.P. acquired a new stake in Pacira BioSciences in the fourth quarter valued at approximately $8,180,000. Finally, Nuveen Asset Management LLC grew its stake in shares of Pacira BioSciences by 109.9% during the fourth quarter. Nuveen Asset Management LLC now owns 625,917 shares of the company’s stock worth $11,792,000 after buying an additional 327,754 shares during the last quarter. 99.73% of the stock is currently owned by institutional investors.

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.