Pacira BioSciences (NASDAQ:PCRX) Shares Jump After Analyst Upgrade

Pacira BioSciences, Inc. (NASDAQ:PCRX) saw a notable increase in its stock price when the market opened on Friday. This surge was primarily due to an analyst upgrade from HC Wainwright, which raised its price target for the stock from $57.00 to $70.00. Previously, the stock had closed at $25.38 but opened at $26.00 as a result of this positive news. Currently, HC Wainwright has a buy rating on Pacira BioSciences.

Recently, the shares of Pacira BioSciences traded at $24.52, with a trading volume of 181,124 shares. Other analysts have also shared their perspectives on the stock. Truist Financial upgraded Pacira BioSciences from a 'sell' rating to a 'hold', while increasing their price target from $8.00 to $25.00. This was noted in a research report dated January 30th. On the same day, Needham & Company LLC also raised their price target from $30.00 to $32.00 and assigned a 'buy' rating to the stock. Additionally, Royal Bank of Canada maintained a 'sector perform' rating with a $18.00 price objective on January 14th. However, Barclays lowered their price target from $25.00 to $17.00, assigning an 'equal weight' rating.

Currently, one analyst has rated the stock with a sell, five have indicated a hold rating, and four have given it a buy rating. According to information from MarketBeat.com, Pacira BioSciences has an average rating of 'Hold' and an average price target of $26.44.

Institutional Investors' Activity

Several large institutional investors have recently adjusted their positions in Pacira BioSciences. For instance, Sterling Capital Management LLC increased its holdings by an impressive 779.4% during the fourth quarter and now owns 1,363 shares worth approximately $26,000 after purchasing 1,208 additional shares. Ancora Advisors LLC also took a new stake in Pacira BioSciences during the same quarter, valued around $26,000.

Another significant change was made by Caitlin John LLC, which upped its stake by 1,850.0%, bringing its total to 1,872 shares worth about $35,000 after acquiring an additional 1,776 shares in the last quarter. Nisa Investment Advisors LLC raised its holdings by 495.3%, now owning 3,304 shares valued at $62,000 after buying 2,749 additional shares. Lastly, PNC Financial Services Group Inc. increased its position by 16.6%, currently holding 3,597 shares worth $68,000 due to an acquisition of 513 more shares last quarter. Notably, 99.73% of Pacira BioSciences stock is held by institutional investors.

Financial Metrics of Pacira BioSciences

The company currently has a debt-to-equity ratio of 0.51, a current ratio of 2.25, and a quick ratio of 1.89. The market capitalization stands at $1.13 billion, with a price-to-earnings ratio of -12.01 and a beta of 0.80. The stock’s fifty-day moving average price is $23.06, while its 200-day moving average price is $18.50.

About Pacira BioSciences

Pacira Biosciences, Inc. is a holding company focused on providing non-opioid pain management and regenerative health solutions aimed at enhancing patient care along the neural pain pathway. Its product offerings include EXPAREL, iovera, and DepoFoam. Founded in December 2006, the company is headquartered in Tampa, Florida.

Pacira, BioSciences, Analyst