Pacira BioSciences (NASDAQ:PCRX) Stock Price Expected to Rise, Needham & Company LLC Analyst Says

Pacira BioSciences (NASDAQ:PCRX) had its target price increased by analysts at Needham & Company LLC from $22.00 to $30.00 in a report released on Monday,Benzinga reports. The firm presently has a “buy” rating on the stock. Needham & Company LLC’s target price points to a potential upside of 45.99% from the company’s previous close.

A number of other equities analysts have also weighed in on PCRX. Barclays lowered their price objective on shares of Pacira BioSciences from $25.00 to $17.00 and set an “equal weight” rating on the stock in a research report on Tuesday, November 12th. HC Wainwright reaffirmed a “buy” rating and issued a $39.00 target price on shares of Pacira BioSciences in a report on Wednesday, December 4th. Jefferies Financial Group increased their price target on shares of Pacira BioSciences from $15.00 to $18.00 and gave the stock a “buy” rating in a report on Tuesday, September 24th. Finally, Royal Bank of Canada lifted their price objective on Pacira BioSciences from $15.00 to $16.00 and gave the company a “sector perform” rating in a report on Thursday, November 7th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $24.50.

Pacira BioSciences Stock Down 2.7 %

PCRX opened at $20.55 on Monday. Pacira BioSciences has a 52 week low of $11.16 and a 52 week high of $34.01. The business has a 50 day moving average price of $18.43 and a two-hundred day moving average price of $17.49. 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 company has a market cap of $948.86 million, a PE ratio of -10.12 and a beta of 0.76.

Hedge Funds Weigh In On Pacira BioSciences

Several hedge funds have recently bought and sold shares of PCRX. CWM LLC grew its holdings in Pacira BioSciences by 713.6% in the third quarter. CWM LLC now owns 6,517 shares of the company’s stock valued at $98,000 after purchasing an additional 5,716 shares during the last quarter. Virtus Investment Advisers Inc. purchased a new stake in shares of Pacira BioSciences in the 3rd quarter worth about $98,000. Quest Partners LLC acquired a new stake in Pacira BioSciences in the 2nd quarter valued at about $113,000. China Universal Asset Management Co. Ltd. increased its holdings in Pacira BioSciences by 62.3% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 8,872 shares of the company’s stock valued at $134,000 after acquiring an additional 3,404 shares in the last quarter. Finally, Canada Pension Plan Investment Board acquired a new position in Pacira BioSciences during the second quarter worth about $140,000. 99.73% of the stock is owned by hedge funds and other 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.