Pacira BioSciences (NASDAQ:PCRX) Earns Sector Perform Rating from Royal Bank of Canada

Pacira BioSciences (NASDAQ:PCRX - Get Free Report)'s stock had its "sector perform" rating reaffirmed by investment analysts at Royal Bank of Canada in a report released on Tuesday,Benzinga reports. They presently have a $18.00 target price on the stock. Royal Bank of Canada's target price would indicate a potential downside of 12.41% from the company's current price.

A number of other equities research analysts have also commented on PCRX. Jefferies Financial Group raised their price objective on shares of Pacira BioSciences from $15.00 to $18.00 and gave the stock a "buy" rating in a report on Tuesday, September 24th. Needham & Company LLC raised their target price on shares of Pacira BioSciences from $22.00 to $30.00 and gave the company a "buy" rating in a research note on Monday. HC Wainwright reiterated a "buy" rating and issued a $39.00 price target on shares of Pacira BioSciences in a research note on Wednesday, December 4th. Finally, Barclays dropped their price target on Pacira BioSciences from $25.00 to $17.00 and set an "equal weight" rating for the company in a report on Tuesday, November 12th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, Pacira BioSciences presently has an average rating of "Hold" and an average target price of $24.50.

Pacira BioSciences Trading Down 2.7 %

Shares of NASDAQ PCRX traded down $0.58 during midday trading on Tuesday, reaching $20.55. 690,239 shares of the stock were exchanged, compared to its average volume of 772,467. Pacira BioSciences has a 12 month low of $11.16 and a 12 month high of $34.01. The company has a market capitalization of $948.86 million, a price-to-earnings ratio of -10.12 and a beta of 0.76. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.25 and a quick ratio of 1.89. The business has a 50-day simple moving average of $18.37 and a two-hundred day simple moving average of $17.55.

Hedge Funds Weigh In On Pacira BioSciences

Several hedge funds and other institutional investors have recently modified their holdings of PCRX. Victory Capital Management Inc. increased its holdings in shares of Pacira BioSciences by 18.7% during the second quarter. Victory Capital Management Inc. now owns 87,639 shares of the company's stock valued at $2,507,000 after acquiring an additional 13,776 shares in the last quarter. Quest Partners LLC bought a new stake in shares of Pacira BioSciences during the 2nd quarter valued at about $113,000. American Century Companies Inc. boosted its holdings in shares of Pacira BioSciences by 16.6% in the second quarter. American Century Companies Inc. now owns 69,498 shares of the company's stock worth $1,988,000 after buying an additional 9,911 shares during the last quarter. Dimensional Fund Advisors LP grew its position in Pacira BioSciences by 12.2% during the second quarter. Dimensional Fund Advisors LP now owns 1,828,065 shares of the company's stock valued at $52,300,000 after buying an additional 198,936 shares during the period. Finally, Renaissance Technologies LLC increased its holdings in Pacira BioSciences by 9.8% during the second quarter. Renaissance Technologies LLC now owns 2,066,197 shares of the company's stock valued at $59,114,000 after buying an additional 184,000 shares during the last quarter. 99.73% of the stock is owned by 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.