Pacira BioSciences, Inc. (NASDAQ:PCRX) Receives Average Rating of “Hold” from Brokerages

Shares of Pacira BioSciences, Inc. (NASDAQ:PCRX) have received an average recommendation of “Hold” from the ten brokerages that are currently covering the firm, MarketBeat.com reports. Two research analysts have rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $23.50.

Several equities analysts recently issued reports on PCRX shares. Barclays reduced their price target on 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. Needham & Company LLC reaffirmed a “buy” rating and issued a $22.00 target price on shares of Pacira BioSciences in a research note on Friday, November 8th. HC Wainwright reissued a “buy” rating and set a $39.00 price target on shares of Pacira BioSciences in a research report on Wednesday, December 4th. Jefferies Financial Group raised 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 upped their price objective on shares of Pacira BioSciences from $15.00 to $16.00 and gave the company a “sector perform” rating in a research note on Thursday, November 7th.

Institutional Trading of Pacira BioSciences

Several institutional investors have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp boosted its stake in shares of Pacira BioSciences by 0.5% during the second quarter. Bank of New York Mellon Corp now owns 400,002 shares of the company’s stock valued at $11,444,000 after purchasing an additional 2,141 shares during the period. Banco Santander S.A. bought a new stake in Pacira BioSciences during the 2nd quarter valued at about $3,959,000. Innealta Capital LLC purchased a new stake in Pacira BioSciences in the 2nd quarter valued at about $50,000. Fort Washington Investment Advisors Inc. OH bought a new position in Pacira BioSciences in the 2nd quarter worth about $13,240,000. Finally, Outfitter Financial LLC grew its stake in Pacira BioSciences by 5.7% in the 2nd quarter. Outfitter Financial LLC now owns 20,190 shares of the company’s stock worth $578,000 after acquiring an additional 1,095 shares in the last quarter. Institutional investors own 99.73% of the company’s stock.

Pacira BioSciences Stock Up 1.4 %

Shares of NASDAQ:PCRX opened at $19.47 on Wednesday. The stock has a market capitalization of $898.99 million, a P/E ratio of -9.59 and a beta of 0.80. The stock’s 50-day moving average price is $17.70 and its 200-day moving average price is $18.51. The company has a current ratio of 2.25, a quick ratio of 1.89 and a debt-to-equity ratio of 0.51. Pacira BioSciences has a 12-month low of $11.16 and a 12-month high of $35.95.

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.