Pacira BioSciences (NASDAQ:PCRX) Given New $70.00 Price Target at HC Wainwright

Pacira BioSciences (NASDAQ:PCRX) had its price target hoisted by equities researchers at HC Wainwright from $57.00 to $70.00 in a report issued on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. HC Wainwright’s price objective would indicate a potential upside of 191.06% from the stock’s current price.

Several other research firms also recently commented on PCRX. Royal Bank of Canada reiterated a “sector perform” rating and issued a $18.00 price objective on shares of Pacira BioSciences in a report on Tuesday, January 14th. Needham & Company LLC lifted their price target on Pacira BioSciences from $30.00 to $32.00 and gave the stock a “buy” rating in a research note on Friday. Truist Financial raised Pacira BioSciences from a “sell” rating to a “hold” rating and increased their price objective for the company from $8.00 to $25.00 in a research note on Thursday, January 30th. Finally, Barclays decreased their target price on shares of Pacira BioSciences from $25.00 to $17.00 and set an “equal weight” rating on the stock in a research note on Tuesday, November 12th. One analyst has rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, Pacira BioSciences currently has a consensus rating of “Hold” and a consensus target price of $27.22.

Pacira BioSciences Price Performance

PCRX stock opened at $24.05 on Friday. 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 has a market cap of $1.11 billion, a P/E ratio of -11.85 and a beta of 0.80. The firm’s fifty day moving average is $23.16 and its 200 day moving average is $18.63. Pacira BioSciences has a 52 week low of $11.16 and a 52 week high of $31.67.

Institutional Trading of Pacira BioSciences

Several large investors have recently added to or reduced their stakes in PCRX. Pacer Advisors Inc. raised its holdings in Pacira BioSciences by 129.4% in the 3rd quarter. Pacer Advisors Inc. now owns 4,962,221 shares of the company’s stock worth $74,681,000 after purchasing an additional 2,799,434 shares in the last quarter. State Street Corp raised its stake in Pacira BioSciences by 5.8% in the third quarter. State Street Corp now owns 2,014,012 shares of the company’s stock worth $30,311,000 after buying an additional 110,162 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in Pacira BioSciences by 0.7% in the fourth quarter. Renaissance Technologies LLC now owns 1,992,601 shares of the company’s stock worth $37,541,000 after buying an additional 13,604 shares during the period. Geode Capital Management LLC boosted its position in Pacira BioSciences by 0.5% during the 4th quarter. Geode Capital Management LLC now owns 1,091,970 shares of the company’s stock valued at $20,578,000 after acquiring an additional 5,071 shares in the last quarter. Finally, Point72 Asset Management L.P. purchased a new position in shares of Pacira BioSciences during the 4th quarter worth approximately $20,266,000. Institutional investors 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.