Pacira BioSciences (NASDAQ:PCRX) Trading 4.3% Higher – Should You Buy?

Pacira BioSciences, Inc. (NASDAQ:PCRX)’s share price traded up 4.3% during trading on Thursday . The company traded as high as $23.01 and last traded at $23.00. 91,507 shares were traded during mid-day trading, a decline of 90% from the average session volume of 891,186 shares. The stock had previously closed at $22.04.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on PCRX shares. Barclays increased their price target on shares of Pacira BioSciences from $17.00 to $24.00 and gave the stock an “overweight” rating in a research note on Friday, February 28th. Truist Financial raised Pacira BioSciences from a “sell” rating to a “hold” rating and raised their price target for the stock from $8.00 to $25.00 in a report on Thursday, January 30th. HC Wainwright increased their price target on Pacira BioSciences from $57.00 to $70.00 and gave the stock a “buy” rating in a report on Friday, February 28th. Needham & Company LLC upped their price objective on shares of Pacira BioSciences from $30.00 to $32.00 and gave the stock a “buy” rating in a research report on Friday, February 28th. Finally, Royal Bank of Canada restated a “sector perform” rating and issued a $18.00 target price on shares of Pacira BioSciences in a research note on Tuesday, January 14th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the company. According to MarketBeat, Pacira BioSciences currently has a consensus rating of “Hold” and a consensus price target of $27.22.

Pacira BioSciences Stock Up 5.5 %

The firm has a 50 day moving average of $23.78 and a two-hundred day moving average of $19.16. The stock has a market capitalization of $1.08 billion, a PE ratio of -11.58 and a beta of 0.86. The company has a current ratio of 2.25, a quick ratio of 1.89 and a debt-to-equity ratio of 0.51.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Pacer Advisors Inc. increased its holdings in Pacira BioSciences by 129.4% during the 3rd quarter. Pacer Advisors Inc. now owns 4,962,221 shares of the company’s stock valued at $74,681,000 after acquiring an additional 2,799,434 shares in the last quarter. BNP Paribas Financial Markets raised its position in shares of Pacira BioSciences by 269.7% during the 3rd quarter. BNP Paribas Financial Markets now owns 395,695 shares of the company’s stock worth $5,955,000 after purchasing an additional 288,662 shares during the last quarter. Janney Montgomery Scott LLC purchased a new stake in Pacira BioSciences in the 3rd quarter valued at approximately $793,000. Empowered Funds LLC acquired a new stake in Pacira BioSciences during the 3rd quarter valued at $3,286,000. Finally, Verition Fund Management LLC acquired a new position in shares of Pacira BioSciences in the third quarter worth $493,000. Institutional investors and hedge funds own 99.73% of the company’s stock.

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.