Pacira BioSciences (NASDAQ:PCRX) Raised to “Buy” at Truist Financial

Pacira BioSciences (NASDAQ:PCRX) was upgraded by stock analysts at Truist Financial from a “hold” rating to a “buy” rating in a note issued to investors on Friday, Marketbeat reports. The firm presently has a $30.00 price target on the stock. Truist Financial’s price objective indicates a potential upside of 33.04% from the stock’s previous close.

Other equities analysts also recently issued research reports about the stock. HC Wainwright lifted their price target on shares of Pacira BioSciences from $48.00 to $65.00 and gave the company a “buy” rating in a report on Tuesday, April 8th. Wall Street Zen raised shares of Pacira BioSciences from a “hold” rating to a “buy” rating in a report on Friday, June 6th. Finally, Needham & Company LLC lowered their price target on shares of Pacira BioSciences from $32.00 to $30.00 and set a “buy” rating on the stock in a report on Friday, May 9th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $27.00.

Pacira BioSciences Price Performance

Shares of NASDAQ:PCRX opened at $22.55 on Friday. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.41 and a quick ratio of 1.99. Pacira BioSciences has a 1-year low of $11.16 and a 1-year high of $27.64. The company has a market capitalization of $1.04 billion, a P/E ratio of -9.89 and a beta of 0.48. The firm’s 50 day simple moving average is $24.28 and its two-hundred day simple moving average is $24.53.

Insider Activity

In other news, SVP Lauren Riker sold 5,578 shares of Pacira BioSciences stock in a transaction that occurred on Wednesday, June 4th. The shares were sold at an average price of $26.21, for a total transaction of $146,199.38. Following the sale, the senior vice president owned 59,564 shares in the company, valued at $1,561,172.44. This trade represents a 8.56% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 6.40% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Pacira BioSciences

Several large investors have recently bought and sold shares of the business. Alyeska Investment Group L.P. purchased a new stake in Pacira BioSciences in the first quarter worth about $32,506,000. Point72 Asset Management L.P. acquired a new position in Pacira BioSciences in the 4th quarter worth approximately $20,266,000. American Century Companies Inc. increased its holdings in Pacira BioSciences by 392.2% in the 1st quarter. American Century Companies Inc. now owns 667,423 shares of the company’s stock worth $16,585,000 after buying an additional 531,831 shares during the period. Nuveen LLC acquired a new stake in shares of Pacira BioSciences during the 1st quarter worth approximately $12,884,000. Finally, Jacobs Levy Equity Management Inc. acquired a new stake in shares of Pacira BioSciences during the 4th quarter worth approximately $8,558,000. 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.