Pacira BioSciences (NASDAQ:PCRX) Given "Buy" Rating at Needham & Company LLC

Needham & Company LLC restated their buy rating on shares of Pacira BioSciences (NASDAQ:PCRX - Free Report) in a report issued on Tuesday morning,Benzinga reports. They currently have a $32.00 price objective on the stock.

A number of other brokerages also recently issued reports on PCRX. HC Wainwright increased their price target on shares of Pacira BioSciences from $48.00 to $65.00 and gave the company a "buy" rating in a report on Tuesday, April 8th. Barclays increased their price objective on Pacira BioSciences from $17.00 to $24.00 and gave the company an "overweight" rating in a research note on Friday, February 28th. Truist Financial upgraded Pacira BioSciences from a "sell" rating to a "hold" rating and boosted their price target for the company from $8.00 to $25.00 in a report on Thursday, January 30th. Finally, Royal Bank of Canada reiterated a "sector perform" rating and set a $18.00 price objective on shares of Pacira BioSciences in a report on Tuesday, January 14th. One investment 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.com, the company presently has an average rating of "Hold" and a consensus target price of $26.67.

Pacira BioSciences Stock Performance

NASDAQ:PCRX traded up $0.87 during mid-day trading on Tuesday, reaching $24.56. The stock had a trading volume of 605,564 shares, compared to its average volume of 969,947. 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 business has a 50 day simple moving average of $24.74 and a 200 day simple moving average of $20.81. Pacira BioSciences has a twelve month low of $11.16 and a twelve month high of $31.67. The firm has a market capitalization of $1.14 billion, a price-to-earnings ratio of -12.10 and a beta of 0.71.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Verition Fund Management LLC acquired a new stake in shares of Pacira BioSciences during the third quarter valued at about $493,000. Centiva Capital LP acquired a new position in shares of Pacira BioSciences in the 3rd quarter valued at approximately $398,000. State Street Corp grew its position in shares of Pacira BioSciences by 5.8% during 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. Charles Schwab Investment Management Inc. increased its stake in shares of Pacira BioSciences by 16.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 502,204 shares of the company's stock worth $9,462,000 after buying an additional 70,307 shares during the last quarter. Finally, Nisa Investment Advisors LLC boosted its stake in Pacira BioSciences by 495.3% during the 4th quarter. Nisa Investment Advisors LLC now owns 3,304 shares of the company's stock valued at $62,000 after acquiring an additional 2,749 shares during the last quarter. 99.73% of the stock is currently owned by hedge funds and other institutional investors.

About Pacira BioSciences

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.