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

Shares of Pacira BioSciences, Inc. (NASDAQ:PCRX) have been assigned an average recommendation of “Hold” from the ten analysts that are covering the firm, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, four have assigned a hold recommendation and four have assigned a buy recommendation to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $24.30.

PCRX has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. reaffirmed an “underweight” rating and issued a $10.00 price objective (down from $45.00) on shares of Pacira BioSciences in a research note on Monday, August 12th. Royal Bank of Canada lifted their target price on shares of Pacira BioSciences from $15.00 to $16.00 and gave the stock a “sector perform” rating in a research note on Thursday, November 7th. Needham & Company LLC reaffirmed a “buy” rating and set a $22.00 price target on shares of Pacira BioSciences in a research report on Friday. StockNews.com lowered Pacira BioSciences from a “strong-buy” rating to a “buy” rating in a research report on Monday, August 12th. Finally, Jefferies Financial Group raised their target price on Pacira BioSciences from $15.00 to $18.00 and gave the stock a “buy” rating in a research note on Tuesday, September 24th.

Pacira BioSciences Stock Performance

Shares of PCRX stock opened at $17.50 on Tuesday. The firm has a market capitalization of $807.98 million, a price-to-earnings ratio of -8.62 and a beta of 0.82. The company has a current ratio of 2.25, a quick ratio of 5.70 and a debt-to-equity ratio of 0.51. The business’s 50-day moving average price is $15.62 and its 200-day moving average price is $20.93. Pacira BioSciences has a 12 month low of $11.16 and a 12 month high of $35.95.

Institutional Trading of Pacira BioSciences

Several hedge funds have recently made changes to their positions in PCRX. GAMMA Investing LLC lifted its stake in shares of Pacira BioSciences by 229.6% during the 2nd quarter. GAMMA Investing LLC now owns 1,338 shares of the company’s stock valued at $38,000 after buying an additional 932 shares in the last quarter. Park Place Capital Corp bought a new stake in shares of Pacira BioSciences during the 2nd quarter valued at $46,000. Innealta Capital LLC purchased a new stake in Pacira BioSciences during the 2nd quarter worth about $50,000. nVerses Capital LLC lifted its holdings in Pacira BioSciences by 800.0% during the 2nd quarter. nVerses Capital LLC now owns 1,800 shares of the company’s stock worth $51,000 after purchasing an additional 1,600 shares in the last quarter. Finally, Natixis purchased a new position in Pacira BioSciences during the 1st quarter valued at about $95,000. 99.73% of the stock is currently owned by institutional investors.

About Pacira BioSciences

Pacira BioSciences, Inc engages in the development, manufacture, marketing, distribution, and sale of non-opioid pain management and regenerative health solutions to healthcare practitioners in the United States. The company offers EXPAREL, a bupivacaine liposome injectable suspension; ZILRETTA, a triamcinolone acetonide extended-release injectable suspension; and iovera system, a non-opioid handheld cryoanalgesia device used to produce controlled doses of cold temperature to targeted nerves.