Pacira BioSciences (NASDAQ:PCRX) Stock Price Up 4.7% – What’s Next?

Pacira BioSciences, Inc. (NASDAQ:PCRX)’s stock price rose 4.7% during trading on Friday . The company traded as high as $24.26 and last traded at $24.43. Approximately 77,954 shares changed hands during mid-day trading, a decline of 90% from the average daily volume of 756,200 shares. The stock had previously closed at $23.33.

Analyst Ratings Changes

Several brokerages have issued reports on PCRX. HC Wainwright restated a “buy” rating and set a $39.00 price objective on shares of Pacira BioSciences in a research note on Wednesday, December 4th. Royal Bank of Canada restated a “sector perform” rating and set a $18.00 price objective on shares of Pacira BioSciences in a research note on Tuesday, January 14th. Needham & Company LLC increased their target price on shares of Pacira BioSciences from $22.00 to $30.00 and gave the stock a “buy” rating in a report on Monday, January 13th. Finally, Barclays lowered their target price on Pacira BioSciences from $25.00 to $17.00 and set an “equal weight” rating for the company in a report on Tuesday, November 12th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $24.50.

Pacira BioSciences Price Performance

The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.89 and a current ratio of 2.25. The company’s 50 day moving average price is $19.04 and its 200-day moving average price is $17.50. The company has a market cap of $1.14 billion, a price-to-earnings ratio of -12.11 and a beta of 0.76.

Institutional Investors Weigh In On Pacira BioSciences

Large investors have recently modified their holdings of the stock. China Universal Asset Management Co. Ltd. lifted its holdings in shares of Pacira BioSciences by 10.3% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 9,790 shares of the company’s stock valued at $184,000 after purchasing an additional 918 shares during the last quarter. Gagnon Securities LLC lifted its stake in Pacira BioSciences by 4.8% during the fourth quarter. Gagnon Securities LLC now owns 321,743 shares of the company’s stock valued at $6,062,000 after buying an additional 14,800 shares in the last quarter. Nisa Investment Advisors LLC boosted its holdings in shares of Pacira BioSciences by 495.3% in the fourth quarter. Nisa Investment Advisors LLC now owns 3,304 shares of the company’s stock worth $62,000 after buying an additional 2,749 shares during the period. Hennion & Walsh Asset Management Inc. increased its position in shares of Pacira BioSciences by 18.1% in the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 56,385 shares of the company’s stock worth $1,062,000 after acquiring an additional 8,636 shares in the last quarter. Finally, Virtus Investment Advisers Inc. acquired a new stake in shares of Pacira BioSciences during the third quarter valued at approximately $98,000. 99.73% of the stock is owned by institutional investors.

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.