Royal Bank of Canada Reaffirms “Sector Perform” Rating for Pacira BioSciences (NASDAQ:PCRX)

Pacira BioSciences (NASDAQ:PCRX)‘s stock had its “sector perform” rating reaffirmed by stock analysts at Royal Bank of Canada in a report issued on Tuesday,Benzinga reports. They currently have a $18.00 price target on the stock. Royal Bank of Canada’s price objective points to a potential downside of 17.73% from the company’s previous close.

Other research analysts also recently issued research reports about the company. Needham & Company LLC increased their price target on Pacira BioSciences from $22.00 to $30.00 and gave the stock a “buy” rating in a research note on Monday. Barclays reduced their target price on shares of Pacira BioSciences from $25.00 to $17.00 and set an “equal weight” rating for the company in a research note on Tuesday, November 12th. Jefferies Financial Group upped their price target on shares of Pacira BioSciences from $15.00 to $18.00 and gave the company a “buy” rating in a research note on Tuesday, September 24th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $39.00 price target on shares of Pacira BioSciences in a report on Wednesday, December 4th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $24.50.

Pacira BioSciences Stock Up 6.5 %

Pacira BioSciences stock opened at $21.88 on Tuesday. The firm has a 50 day moving average price of $18.52 and a 200-day moving average price of $17.52. The company has a quick ratio of 1.89, a current ratio of 2.25 and a debt-to-equity ratio of 0.51. Pacira BioSciences has a twelve month low of $11.16 and a twelve month high of $34.01. The company has a market capitalization of $1.01 billion, a P/E ratio of -10.78 and a beta of 0.76.

Hedge Funds Weigh In On Pacira BioSciences

A number of hedge funds have recently modified their holdings of the company. The Manufacturers Life Insurance Company boosted its holdings in shares of Pacira BioSciences by 6.0% during the second quarter. The Manufacturers Life Insurance Company now owns 23,932 shares of the company’s stock worth $685,000 after purchasing an additional 1,354 shares during the period. Profund Advisors LLC raised its position in Pacira BioSciences by 26.2% during the 2nd quarter. Profund Advisors LLC now owns 10,551 shares of the company’s stock valued at $302,000 after purchasing an additional 2,190 shares during the last quarter. China Universal Asset Management Co. Ltd. lifted its holdings in Pacira BioSciences by 62.3% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 8,872 shares of the company’s stock worth $134,000 after buying an additional 3,404 shares during the period. Mercer Global Advisors Inc. ADV increased its stake in shares of Pacira BioSciences by 39.0% during the second quarter. Mercer Global Advisors Inc. ADV now owns 12,686 shares of the company’s stock valued at $363,000 after buying an additional 3,562 shares during the period. Finally, Quest Partners LLC bought a new position in shares of Pacira BioSciences during the second quarter valued at approximately $113,000. Hedge funds and other institutional investors own 99.73% of the company’s stock.

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.