Pacira BioSciences (NASDAQ:PCRX) Stock Price Up 7.8% – What’s Next?

Shares of Pacira BioSciences, Inc. (NASDAQ:PCRX) rose 7.8% during mid-day trading on Wednesday . The company traded as high as $17.98 and last traded at $17.98. Approximately 139,634 shares traded hands during mid-day trading, a decline of 83% from the average daily volume of 842,305 shares. The stock had previously closed at $16.68.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on PCRX. Raymond James downgraded shares of Pacira BioSciences from an “outperform” rating to a “market perform” rating in a report on Monday, August 12th. Piper Sandler downgraded shares of Pacira BioSciences from an “overweight” rating to a “neutral” rating and cut their price target for the company from $42.00 to $11.00 in a report on Monday, August 12th. JPMorgan Chase & Co. restated an “underweight” rating and set a $10.00 price target (down previously from $45.00) on shares of Pacira BioSciences in a report on Monday, August 12th. Needham & Company LLC reiterated a “buy” rating and issued a $22.00 target price on shares of Pacira BioSciences in a report on Friday, November 8th. Finally, StockNews.com downgraded shares of Pacira BioSciences from a “strong-buy” rating to a “buy” rating in a report on Monday, August 12th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $23.50.

Pacira BioSciences Stock 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 firm’s 50-day moving average price is $16.58 and its two-hundred day moving average price is $19.57. The firm has a market capitalization of $881.44 million, a price-to-earnings ratio of -9.18 and a beta of 0.80.

Hedge Funds Weigh In On Pacira BioSciences

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Jane Street Group LLC boosted its position in Pacira BioSciences by 1,780.2% in the first quarter. Jane Street Group LLC now owns 187,531 shares of the company’s stock valued at $5,480,000 after buying an additional 177,557 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Pacira BioSciences by 12.2% in the second quarter. Dimensional Fund Advisors LP now owns 1,828,065 shares of the company’s stock worth $52,300,000 after acquiring an additional 198,936 shares during the last quarter. Pacer Advisors Inc. raised its stake in shares of Pacira BioSciences by 129.4% in the third quarter. Pacer Advisors Inc. now owns 4,962,221 shares of the company’s stock worth $74,681,000 after acquiring an additional 2,799,434 shares during the last quarter. Legato Capital Management LLC raised its stake in shares of Pacira BioSciences by 74.0% in the second quarter. Legato Capital Management LLC now owns 52,913 shares of the company’s stock worth $1,514,000 after acquiring an additional 22,497 shares during the last quarter. Finally, WINTON GROUP Ltd bought a new position in shares of Pacira BioSciences in the second quarter worth about $2,726,000. 99.73% of the stock is currently owned by institutional investors and hedge funds.

Pacira BioSciences Company Profile

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.