Brokerages Set Pacira BioSciences, Inc. (NASDAQ:PCRX) Target Price at $26.44

Shares of Pacira BioSciences, Inc. (NASDAQ:PCRX) have been given an average rating of “Hold” by the nine analysts that are currently covering the stock, MarketBeat reports. One analyst has rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating on the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $26.44.

A number of analysts have weighed in on the company. HC Wainwright increased their target price on Pacira BioSciences from $48.00 to $65.00 and gave the stock a “buy” rating in a research note on Tuesday, April 8th. Wall Street Zen upgraded Pacira BioSciences from a “hold” rating to a “buy” rating in a research note on Friday, June 6th. Finally, Needham & Company LLC reduced their target price on Pacira BioSciences from $32.00 to $30.00 and set a “buy” rating on the stock in a research note on Friday, May 9th.

Pacira BioSciences Stock Performance

PCRX stock opened at $22.73 on Friday. The company has a quick ratio of 1.99, a current ratio of 2.41 and a debt-to-equity ratio of 0.48. The business’s fifty day simple moving average is $24.71 and its two-hundred day simple moving average is $24.33. Pacira BioSciences has a twelve month low of $11.16 and a twelve month high of $27.64. The firm has a market cap of $1.05 billion, a price-to-earnings ratio of -9.97 and a beta of 0.48.

Insider Activity at Pacira BioSciences

In other news, SVP Lauren Riker sold 5,578 shares of the firm’s stock in a transaction on Wednesday, June 4th. The stock was sold at an average price of $26.21, for a total transaction of $146,199.38. Following the transaction, the senior vice president owned 59,564 shares in the company, valued at approximately $1,561,172.44. This trade represents a 8.56% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 6.40% of the company’s stock.

Hedge Funds Weigh In On Pacira BioSciences

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. State of Wyoming grew its stake in Pacira BioSciences by 8.0% in the fourth quarter. State of Wyoming now owns 6,566 shares of the company’s stock valued at $124,000 after purchasing an additional 487 shares during the last quarter. PNC Financial Services Group Inc. grew its stake in Pacira BioSciences by 16.6% in 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 during the last quarter. US Bancorp DE grew its stake in Pacira BioSciences by 31.0% in the first quarter. US Bancorp DE now owns 2,270 shares of the company’s stock valued at $56,000 after purchasing an additional 537 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Pacira BioSciences by 3.1% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 26,077 shares of the company’s stock worth $491,000 after acquiring an additional 794 shares in the last quarter. Finally, Sterling Capital Management LLC boosted its holdings in Pacira BioSciences by 779.4% in the fourth quarter. Sterling Capital Management LLC now owns 1,363 shares of the company’s stock worth $26,000 after acquiring an additional 1,208 shares in the last quarter. 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.