Pacira BioSciences, Inc. (NASDAQ:PCRX) Receives Consensus Recommendation of "Hold" from Analysts

Pacira BioSciences, Inc. (NASDAQ:PCRX - Get Free Report) has earned a consensus recommendation of "Hold" from the ten research firms that are covering the firm, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, four have assigned a hold recommendation and four have given a buy recommendation to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $23.50.

Several research firms have weighed in on PCRX. Jefferies Financial Group increased their price target on shares of Pacira BioSciences from $15.00 to $18.00 and gave the company a "buy" rating in a report on Tuesday, September 24th. Royal Bank of Canada increased their price target on shares of Pacira BioSciences from $15.00 to $16.00 and gave the company a "sector perform" rating in a report on Thursday, November 7th. Needham & Company LLC reissued a "buy" rating and issued a $22.00 price target on shares of Pacira BioSciences in a report on Friday, November 8th. JPMorgan Chase & Co. reissued an "underweight" rating and issued a $10.00 price target (down from $45.00) on shares of Pacira BioSciences in a report on Monday, August 12th. Finally, Raymond James cut shares of Pacira BioSciences from an "outperform" rating to a "market perform" rating in a report on Monday, August 12th.

Hedge Funds Weigh In On Pacira BioSciences

A number of hedge funds have recently modified their holdings of PCRX. Pacer Advisors Inc. lifted its holdings in Pacira BioSciences by 129.4% in the third quarter. Pacer Advisors Inc. now owns 4,962,221 shares of the company's stock valued at $74,681,000 after buying an additional 2,799,434 shares during the period. Fort Washington Investment Advisors Inc. OH acquired a new position in Pacira BioSciences in the second quarter valued at $13,240,000. Assenagon Asset Management S.A. lifted its holdings in Pacira BioSciences by 314.4% in the third quarter. Assenagon Asset Management S.A. now owns 553,114 shares of the company's stock valued at $8,324,000 after buying an additional 419,656 shares during the period. Doma Perpetual Capital Management LLC lifted its holdings in Pacira BioSciences by 71.8% in the second quarter. Doma Perpetual Capital Management LLC now owns 1,000,761 shares of the company's stock valued at $28,632,000 after buying an additional 418,321 shares during the period. Finally, BNP Paribas Financial Markets increased its stake in Pacira BioSciences by 269.7% in the third quarter. BNP Paribas Financial Markets now owns 395,695 shares of the company's stock valued at $5,955,000 after purchasing an additional 288,662 shares in the last quarter. Institutional investors and hedge funds own 99.73% of the company's stock.

Pacira BioSciences Stock Performance

NASDAQ:PCRX traded up $0.27 during mid-day trading on Friday, hitting $16.91. The stock had a trading volume of 296,431 shares, compared to its average volume of 844,038. Pacira BioSciences has a twelve month low of $11.16 and a twelve month high of $35.95. The stock has a market cap of $780.73 million, a price-to-earnings ratio of -8.33 and a beta of 0.82. The company's 50 day simple moving average is $16.46 and its 200 day simple moving average is $19.91. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.89 and a current ratio of 2.25.

About Pacira BioSciences

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.