Royal Bank of Canada Forecasts Strong Price Appreciation for Pacira BioSciences (NASDAQ:PCRX) Stock

Pacira BioSciences (NASDAQ:PCRX - Free Report) had its price target boosted by Royal Bank of Canada from $15.00 to $16.00 in a research note released on Thursday,Benzinga reports. Royal Bank of Canada currently has a sector perform rating on the stock.

A number of other equities analysts have also weighed in on PCRX. StockNews.com lowered shares of Pacira BioSciences from a "strong-buy" rating to a "buy" rating in a research 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 stock from $42.00 to $11.00 in a research note on Monday, August 12th. Truist Financial lowered Pacira BioSciences from a "buy" rating to a "sell" rating and reduced their price objective for the company from $30.00 to $8.00 in a research note on Tuesday, August 13th. JPMorgan Chase & Co. reaffirmed an "underweight" rating and set a $10.00 price target (down from $45.00) on shares of Pacira BioSciences in a research report on Monday, August 12th. Finally, Raymond James cut shares of Pacira BioSciences from an "outperform" rating to a "market perform" rating in a research report on Monday, August 12th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, Pacira BioSciences has an average rating of "Hold" and an average target price of $24.30.

Pacira BioSciences Price Performance

Shares of PCRX traded up $0.03 during trading hours on Thursday, reaching $17.70. 607,632 shares of the company traded hands, compared to its average volume of 862,922. The stock has a market capitalization of $816.50 million, a PE ratio of 13.51 and a beta of 0.82. The stock has a fifty day simple moving average of $15.59 and a 200 day simple moving average of $21.07. Pacira BioSciences has a fifty-two week low of $11.16 and a fifty-two week high of $35.95. The company has a quick ratio of 5.70, a current ratio of 6.82 and a debt-to-equity ratio of 0.67.

Insider Buying and Selling at Pacira BioSciences

In related news, CEO Frank D. Lee purchased 8,264 shares of the business's stock in a transaction that occurred on Monday, August 12th. The shares were acquired at an average price of $12.10 per share, with a total value of $99,994.40. Following the acquisition, the chief executive officer now owns 107,784 shares in the company, valued at approximately $1,304,186.40. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders purchased a total of 11,176 shares of company stock worth $136,240 over the last ninety days. Company insiders own 6.40% of the company's stock.

Hedge Funds Weigh In On Pacira BioSciences

Several institutional investors have recently modified their holdings of the company. Jane Street Group LLC increased its position in Pacira BioSciences by 1,780.2% in the 1st quarter. Jane Street Group LLC now owns 187,531 shares of the company's stock valued at $5,480,000 after acquiring an additional 177,557 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of 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 purchasing an additional 198,936 shares during the period. Legato Capital Management LLC raised its stake in shares of Pacira BioSciences by 74.0% during the second quarter. Legato Capital Management LLC now owns 52,913 shares of the company's stock valued at $1,514,000 after purchasing an additional 22,497 shares in the last quarter. WINTON GROUP Ltd acquired a new stake in Pacira BioSciences in the second quarter worth about $2,726,000. Finally, QRG Capital Management Inc. grew its position in Pacira BioSciences by 42.0% in the 1st quarter. QRG Capital Management Inc. now owns 22,708 shares of the company's stock valued at $664,000 after buying an additional 6,721 shares in the last quarter. Institutional investors own 99.73% of the company's stock.

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.