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

Pacira BioSciences, Inc. (NASDAQ:PCRX)’s stock price gapped up prior to trading 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.

A number of other equities research analysts have also recently commented on PCRX. Royal Bank of Canada restated a “sector perform” rating and issued a $18.00 price target on shares of Pacira BioSciences in a report on Tuesday, January 14th. Truist Financial upgraded shares of Pacira BioSciences from a “sell” rating to a “hold” rating and raised their price target for the stock from $8.00 to $25.00 in a report on Thursday, January 30th. HC Wainwright raised 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. Finally, Needham & Company LLC raised 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 research analyst has rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $27.22.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in PCRX. Sterling Capital Management LLC lifted its position in shares of Pacira BioSciences by 779.4% during the fourth quarter. Sterling Capital Management LLC now owns 1,363 shares of the company’s stock valued at $26,000 after purchasing an additional 1,208 shares in the last quarter. Ancora Advisors LLC bought a new position in shares of Pacira BioSciences during the fourth quarter valued at about $26,000. Caitlin John LLC lifted its position in shares of Pacira BioSciences by 1,850.0% during the fourth quarter. Caitlin John LLC now owns 1,872 shares of the company’s stock valued at $35,000 after purchasing an additional 1,776 shares in the last quarter. Nisa Investment Advisors LLC lifted its position in shares of Pacira BioSciences by 495.3% during the fourth quarter. Nisa Investment Advisors LLC now owns 3,304 shares of the company’s stock valued at $62,000 after purchasing an additional 2,749 shares in the last quarter. Finally, PNC Financial Services Group Inc. lifted its position in shares of Pacira BioSciences by 16.6% during the fourth quarter. PNC Financial Services Group Inc. now owns 3,597 shares of the company’s stock valued at $68,000 after purchasing an additional 513 shares in the last quarter. 99.73% of the stock is owned by institutional investors.

Pacira BioSciences Price Performance

The company has a quick ratio of 1.89, a current ratio of 2.25 and a debt-to-equity ratio of 0.51. The business’s 50-day moving average is $23.16 and its two-hundred day moving average is $18.58. The company has a market capitalization of $1.11 billion, a P/E 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.